Alphatec (NASDAQ:ATEC) Trading 8.9% Higher – What’s Next?

Alphatec Holdings, Inc. (NASDAQ:ATEC) shares shot up 8.9% during mid-day trading on Thursday . The company traded as high as $17.50 and last traded at $17.3650. 3,348,558 shares were traded during trading, a decline of 23% from the average session volume of 4,367,235 shares. The stock had previously closed at $15.95.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on the stock. Needham & Company LLC reissued a “buy” rating and issued a $22.00 price objective on shares of Alphatec in a research report on Monday. Wells Fargo & Company boosted their price target on Alphatec from $14.00 to $16.00 and gave the company an “overweight” rating in a report on Thursday, October 16th. Wall Street Zen upgraded Alphatec from a “hold” rating to a “buy” rating in a report on Saturday, January 3rd. Stifel Nicolaus assumed coverage on Alphatec in a research report on Tuesday, October 28th. They set a “buy” rating and a $20.00 target price for the company. Finally, Canaccord Genuity Group increased their price target on Alphatec from $20.00 to $25.00 and gave the stock a “buy” rating in a research report on Friday, October 31st. Nine research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, Alphatec currently has an average rating of “Moderate Buy” and an average price target of $22.82.

Alphatec Stock Performance

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 $2.59 billion, a PE ratio of -16.79 and a beta of 1.01. The business’s 50-day moving average price is $20.57 and its 200-day moving average price is $16.50.

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

Insider Buying and Selling at Alphatec

In other Alphatec news, EVP Craig E. Hunsaker sold 32,584 shares of the company’s stock in a transaction that occurred on Wednesday, December 10th. The shares were sold at an average price of $20.84, for a total transaction of $679,050.56. Following the transaction, the executive vice president owned 1,256,558 shares in the company, valued at approximately $26,186,668.72. This represents a 2.53% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Patrick Miles sold 100,000 shares of Alphatec stock in a transaction on Monday, January 5th. The stock was sold at an average price of $21.01, for a total transaction of $2,101,000.00. Following the sale, the chief executive officer owned 5,135,398 shares of the company’s stock, valued at $107,894,711.98. The trade was a 1.91% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last three months, insiders have sold 3,403,342 shares of company stock valued at $69,816,381. Insiders own 20.90% of the company’s stock.

Institutional Trading of Alphatec

A number of institutional investors and hedge funds have recently added to or reduced their stakes in ATEC. Assenagon Asset Management S.A. raised its stake in shares of Alphatec by 30.4% in the fourth quarter. Assenagon Asset Management S.A. now owns 978,343 shares of the medical technology company’s stock worth $20,584,000 after purchasing an additional 227,914 shares during the last quarter. Diversified Trust Co. lifted its stake in Alphatec by 17.3% during the 4th quarter. Diversified Trust Co. now owns 12,649 shares of the medical technology company’s stock valued at $266,000 after acquiring an additional 1,868 shares during the period. Wealth Enhancement Advisory Services LLC boosted its holdings in shares of Alphatec by 10.8% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 68,872 shares of the medical technology company’s stock valued at $1,501,000 after acquiring an additional 6,695 shares during the last quarter. Tudor Investment Corp ET AL increased its stake in shares of Alphatec by 608.4% in the third quarter. Tudor Investment Corp ET AL now owns 900,491 shares of the medical technology company’s stock worth $13,093,000 after acquiring an additional 773,367 shares during the period. Finally, FNY Investment Advisers LLC purchased a new position in shares of Alphatec during the third quarter worth $74,000. 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.