Alphatec (NASDAQ:ATEC) Shares Up 7.4% – Still a Buy?

Alphatec Holdings, Inc. (NASDAQ:ATEC) shares traded up 7.4% on Monday . The company traded as high as $8.18 and last traded at $8.2290. 1,988,757 shares traded hands during mid-day trading, a decline of 41% from the average session volume of 3,373,418 shares. The stock had previously closed at $7.66.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on the company. Stifel Nicolaus dropped their price target on Alphatec from $24.00 to $20.00 and set a “buy” rating for the company in a research report on Monday, March 9th. JPMorgan Chase & Co. reduced their price objective on Alphatec from $24.00 to $16.00 and set an “overweight” rating on the stock in a research report on Wednesday, May 6th. Canaccord Genuity Group dropped their target price on Alphatec from $25.00 to $23.00 and set a “buy” rating for the company in a report on Wednesday, May 6th. Needham & Company LLC cut their target price on Alphatec from $25.00 to $14.00 and set a “buy” rating for the company in a research note on Wednesday, May 6th. Finally, Wells Fargo & Company reduced their price target on Alphatec from $28.00 to $14.00 and set an “overweight” rating on the stock in a report on Thursday, May 7th. Ten research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, Alphatec has a consensus rating of “Moderate Buy” and a consensus price target of $18.58.

Alphatec Price Performance

The firm has a market cap of $1.25 billion, a price-to-earnings ratio of -9.89 and a beta of 0.96. The company has a current ratio of 1.90, a quick ratio of 1.12 and a debt-to-equity ratio of 40.35. The stock’s fifty day moving average price is $10.76 and its 200-day moving average price is $15.50.

Alphatec (NASDAQ:ATEC) last released its quarterly earnings data on Tuesday, May 5th. The medical technology company reported ($0.22) EPS for the quarter, missing analysts’ consensus estimates of ($0.01) by ($0.21). The business had revenue of $192.11 million during the quarter, compared to analyst estimates of $197.51 million. Alphatec had a negative net margin of 15.93% and a negative return on equity of 1,183.84%. The company’s revenue was up 13.6% on a year-over-year basis. During the same quarter in the prior year, the company posted ($0.35) earnings per share. As a group, equities research analysts forecast that Alphatec Holdings, Inc. will post -0.44 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, COO Scott Lish sold 260,535 shares of the business’s stock in a transaction dated Friday, March 13th. The shares were sold at an average price of $12.30, for a total value of $3,204,580.50. Following the sale, the chief operating officer directly owned 815,704 shares in the company, valued at approximately $10,033,159.20. The trade was a 24.21% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP David Sponsel sold 163,452 shares of the stock in a transaction dated Wednesday, March 11th. The stock was sold at an average price of $12.52, for a total transaction of $2,046,419.04. Following the transaction, the executive vice president directly owned 504,932 shares of the company’s stock, valued at approximately $6,321,748.64. This trade represents a 24.45% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders have sold 629,189 shares of company stock valued at $7,801,589. 13.48% of the stock is owned by company insiders.

Hedge Funds Weigh In On Alphatec

Hedge funds have recently made changes to their positions in the stock. Summit Securities Group LLC acquired a new stake in Alphatec in the 1st quarter valued at approximately $29,000. Aster Capital Management DIFC Ltd purchased a new position in shares of Alphatec during the third quarter worth $34,000. Osterweis Capital Management Inc. acquired a new stake in shares of Alphatec in the second quarter valued at $37,000. Northwestern Mutual Wealth Management Co. grew its stake in shares of Alphatec by 157.1% in the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 2,571 shares of the medical technology company’s stock valued at $54,000 after buying an additional 1,571 shares in the last quarter. Finally, China Universal Asset Management Co. Ltd. purchased a new stake in shares of Alphatec in the 3rd quarter valued at $73,000. Hedge funds and other institutional investors own 66.35% of the company’s stock.

Alphatec Company Profile

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.