Alphatec (NASDAQ:ATEC) Reaches New 12-Month High – What’s Next?

Alphatec Holdings, Inc. (NASDAQ:ATEC) shares reached a new 52-week high during mid-day trading on Thursday . The company traded as high as $23.20 and last traded at $23.02, with a volume of 772148 shares trading hands. The stock had previously closed at $21.97.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on ATEC. Barclays raised their target price on Alphatec from $23.00 to $27.00 and gave the stock an “overweight” rating in a research report on Wednesday. Morgan Stanley set a $23.00 price objective on Alphatec in a research note on Tuesday, December 2nd. Piper Sandler reiterated an “overweight” rating and set a $25.00 target price (up previously from $20.00) on shares of Alphatec in a research report on Friday, October 31st. Loop Capital set a $25.00 price target on shares of Alphatec in a report on Wednesday, December 10th. Finally, Wall Street Zen raised shares of Alphatec from a “hold” rating to a “buy” rating in a research note on Saturday, January 3rd. Nine equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $22.82.

Alphatec Trading Up 4.4%

The company has a current ratio of 1.99, a quick ratio of 1.24 and a debt-to-equity ratio of 43.02. The stock has a market cap of $3.41 billion, a P/E ratio of -22.01 and a beta of 1.01. The business’s fifty day simple moving average is $20.54 and its 200 day simple moving average is $16.22.

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

Insider Activity

In related news, Director David R. Pelizzon sold 250,000 shares of the firm’s stock in a transaction dated Wednesday, November 12th. The stock was sold at an average price of $20.80, for a total value of $5,200,000.00. Following the transaction, the director owned 11,145,045 shares in the company, valued at $231,816,936. This trade represents a 2.19% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, major shareholder Squadron Capital Llc sold 250,000 shares of the business’s stock in a transaction dated Wednesday, November 12th. The stock was sold at an average price of $20.80, for a total value of $5,200,000.00. Following the sale, the insider directly owned 11,145,045 shares of the company’s stock, valued at $231,816,936. This represents a 2.19% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 3,403,342 shares of company stock valued at $69,816,381 over the last 90 days. 20.90% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Vanguard Group Inc. raised its holdings in shares of Alphatec by 2.4% during the third quarter. Vanguard Group Inc. now owns 6,815,058 shares of the medical technology company’s stock worth $99,091,000 after acquiring an additional 158,295 shares during the period. American Century Companies Inc. increased its holdings in Alphatec by 2.6% during the 3rd quarter. American Century Companies Inc. now owns 6,336,491 shares of the medical technology company’s stock worth $92,133,000 after purchasing an additional 159,330 shares in the last quarter. Geode Capital Management LLC lifted its holdings in shares of Alphatec by 7.4% in the second quarter. Geode Capital Management LLC now owns 2,697,541 shares of the medical technology company’s stock valued at $29,946,000 after purchasing an additional 185,297 shares in the last quarter. Next Century Growth Investors LLC lifted its holdings in shares of Alphatec by 22.8% in the second quarter. Next Century Growth Investors LLC now owns 2,060,735 shares of the medical technology company’s stock valued at $22,874,000 after purchasing an additional 382,057 shares in the last quarter. Finally, Two Sigma Investments LP boosted its position in shares of Alphatec by 59.0% during the third quarter. Two Sigma Investments LP now owns 1,794,324 shares of the medical technology company’s stock worth $26,089,000 after buying an additional 665,634 shares during the period. Institutional investors and hedge funds own 66.35% of the company’s stock.

About Alphatec

Alphatec Holdings, Inc (NASDAQ: ATEC) is a medical technology company focused on the design, development and commercialization of products for the surgical correction of degenerative spinal conditions. The company’s portfolio centers on interbody implants, biologics, fixation devices and surgical planning tools intended to improve patient outcomes in spinal fusion procedures. Alphatec’s flagship offerings include customizable interbody cages, bone graft materials and specialized instrumentation designed for minimally invasive and open spinal surgeries.

Founded as Alphatec Spine in 1985 and rebranded as Alphatec Holdings in 2018, the company has grown from a single-product organization into a multi-platform innovator in the spine market.