Insider Buying: Alphatec (NASDAQ:ATEC) Director Purchases $408,600.00 in Stock

Alphatec Holdings, Inc. (NASDAQ:ATEC) Director David Demski bought 60,000 shares of the firm’s stock in a transaction on Friday, October 30th. The stock was purchased at an average cost of $6.81 per share, for a total transaction of $408,600.00. Following the completion of the acquisition, the director owned 491,635 shares in the company, valued at approximately $3,348,034.35. This trade represents a 13.90% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Alphatec Trading Up 6.7%

ATEC traded up $0.47 on Monday, reaching $7.51. The stock had a trading volume of 8,837,689 shares, compared to its average volume of 3,055,418. The company has a market capitalization of $1.17 billion, a price-to-earnings ratio of -13.72 and a beta of 0.88. Alphatec Holdings, Inc. has a fifty-two week low of $6.81 and a fifty-two week high of $23.29. The firm has a 50-day moving average of $10.14 and a 200-day moving average of $10.62.

Alphatec (NASDAQ:ATEC) last posted its quarterly earnings data on Thursday, October 29th. The medical technology company reported $0.09 earnings per share for the quarter, missing the consensus estimate of $0.10 by ($0.01). The business had revenue of $221.17 million during the quarter, compared to the consensus estimate of $225.16 million. Alphatec had a negative return on equity of 6,752.24% and a negative net margin of 10.35%. The business’s revenue was up 12.6% on a year-over-year basis. During the same period last year, the business posted $0.03 earnings per share. Sell-side analysts anticipate that Alphatec Holdings, Inc. will post -0.45 EPS for the current fiscal year.

Hedge Funds Weigh In On Alphatec

Hedge funds have recently modified their holdings of the stock. Paradigm Capital Management Inc. NY bought a new stake in shares of Alphatec in the 2nd quarter worth about $9,413,000. Bank of America Corp DE lifted its position in Alphatec by 26.9% in the first quarter. Bank of America Corp DE now owns 2,560,971 shares of the medical technology company’s stock worth $27,863,000 after buying an additional 543,059 shares during the last quarter. Bank of New York Mellon Corp purchased a new position in Alphatec during the second quarter worth $3,092,000. Great Lakes Advisors LLC purchased a new position in Alphatec during the second quarter worth $2,423,000. Finally, Arrowstreet Capital Limited Partnership increased its position in Alphatec by 102.3% during the first quarter. Arrowstreet Capital Limited Partnership now owns 507,017 shares of the medical technology company’s stock valued at $5,516,000 after acquiring an additional 256,342 shares during the last quarter. Hedge funds and other institutional investors own 66.35% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on the stock. TD Cowen cut their price objective on shares of Alphatec from $13.00 to $10.00 and set a “buy” rating for the company in a research report on Friday. Stephens assumed coverage on shares of Alphatec in a research report on Thursday, July 23rd. They set an “overweight” rating and a $15.00 target price for the company. Wells Fargo & Company dropped their price objective on shares of Alphatec from $14.00 to $12.00 and set an “overweight” rating for the company in a report on Friday. Needham & Company LLC reduced their target price on Alphatec from $14.00 to $12.00 and set a “buy” rating on the stock in a research note on Friday. Finally, Stifel Nicolaus dropped their target price on Alphatec from $16.00 to $13.00 and set a “buy” rating for the company in a research report on Wednesday, July 8th. Twelve investment analysts have rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $16.13.

Alphatec Company Profile

Alphatec Holdings, Inc is a medical technology company focused on the design, development and commercialization of products and procedural solutions for spine surgery. The company aims to improve the treatment of spinal disorders through technologies that support spinal fusion, deformity correction, reconstruction and minimally invasive procedures.

Its portfolio includes spinal implants, surgical instruments, navigation and imaging technologies, and intraoperative monitoring solutions.