Alphatec (NASDAQ:ATEC) Reaches New 52-Week High – Should You Buy?

Alphatec Holdings, Inc. (NASDAQ:ATEC) shares hit a new 52-week high on Tuesday . The stock traded as high as $21.21 and last traded at $21.1530, with a volume of 175019 shares traded. The stock had previously closed at $20.63.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on ATEC shares. JPMorgan Chase & Co. started coverage on shares of Alphatec in a research note on Friday, October 24th. They set an “overweight” rating and a $19.00 price target on the stock. Wall Street Zen upgraded shares of Alphatec from a “hold” rating to a “buy” rating in a report on Saturday, October 18th. Lake Street Capital set a $25.00 target price on shares of Alphatec and gave the company a “buy” rating in a research report on Friday, October 31st. Wells Fargo & Company increased their price target on shares of Alphatec from $14.00 to $16.00 and gave the company an “overweight” rating in a report on Thursday, October 16th. Finally, Morgan Stanley boosted their price objective on Alphatec from $16.00 to $21.00 and gave the stock an “equal weight” rating in a research note on Monday, November 10th. Nine analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, Alphatec presently has an average rating of “Moderate Buy” and an average price target of $22.00.

Alphatec Price Performance

The company has a debt-to-equity ratio of 23.22, a quick ratio of 1.77 and a current ratio of 2.88. The company has a market capitalization of $3.20 billion, a P/E ratio of -18.90 and a beta of 1.17. The firm’s fifty day moving average is $16.59 and its 200 day moving average is $14.26.

Alphatec (NASDAQ:ATEC) last released its earnings results on Thursday, October 30th. The medical technology company reported $0.03 EPS for the quarter, beating analysts’ consensus estimates of ($0.06) by $0.09. The business had revenue of $196.50 million for the quarter, compared to the consensus estimate of $182.78 million. During the same period in the prior year, the company posted ($0.28) EPS. The company’s quarterly revenue was up 30.4% compared to the same quarter last year. Alphatec has set its FY 2025 guidance at EPS. As a group, analysts predict that Alphatec Holdings, Inc. will post -1.08 earnings per share for the current fiscal year.

Insider Activity at Alphatec

In other news, major shareholder Squadron Capital Llc sold 250,000 shares of Alphatec stock in a transaction that occurred on Wednesday, November 12th. The shares were sold at an average price of $20.80, for a total transaction of $5,200,000.00. Following the completion of the sale, the insider owned 11,145,045 shares of the company’s stock, valued at approximately $231,816,936. The trade was a 2.19% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, General Counsel Tyson Eliot Marshall sold 70,000 shares of the stock in a transaction that occurred on Thursday, November 20th. The stock was sold at an average price of $19.51, for a total value of $1,365,700.00. Following the completion of the transaction, the general counsel directly owned 368,331 shares in the company, valued at approximately $7,186,137.81. This trade represents a 15.97% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 1,917,500 shares of company stock worth $35,574,664 over the last ninety days. 20.90% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Alphatec

Several hedge funds have recently made changes to their positions in ATEC. Emerald Advisers LLC grew its holdings in Alphatec by 3.8% during the 2nd quarter. Emerald Advisers LLC now owns 1,684,334 shares of the medical technology company’s stock worth $18,696,000 after acquiring an additional 60,885 shares in the last quarter. AQR Capital Management LLC boosted its position in Alphatec by 7.6% during the first quarter. AQR Capital Management LLC now owns 676,897 shares of the medical technology company’s stock valued at $6,864,000 after purchasing an additional 47,939 shares in the last quarter. Northern Trust Corp raised its holdings in Alphatec by 3.4% in the first quarter. Northern Trust Corp now owns 1,049,469 shares of the medical technology company’s stock worth $10,642,000 after purchasing an additional 34,726 shares in the last quarter. Truist Financial Corp bought a new stake in shares of Alphatec in the 2nd quarter valued at about $216,000. Finally, Voya Investment Management LLC increased its position in shares of Alphatec by 60.1% during the first quarter. Voya Investment Management LLC now owns 49,561 shares of the medical technology company’s stock worth $503,000 after purchasing an additional 18,605 shares in the last quarter. 66.35% of the stock is currently owned by hedge funds and other institutional investors.

About Alphatec

Alphatec Holdings, Inc, a medical technology company, designs, develops, and advances technologies for the surgical treatment of spinal disorders in the United States and internationally. It manufactures and sells implants and instruments through third-party suppliers. The company offers Alpha InformatiX product platform, including EOS imaging system that provides full-body imaging; VEA alignment mobile application, which leverages EOS technology to more quickly quantify alignment parameters on a mobile device; SafeOp Neural InformatiX System that automates electromyographic and somatosensory evoked potential monitoring; and Valence, an intra-operative system that integrates navigation and robotics into spine procedures, as well as Sigma Prone TransPsoas (PTP) Access and PTP Patient Positioning Systems.