Alphatec Holdings, Inc. (NASDAQ:ATEC) Short Interest Up 12.2% in March

Alphatec Holdings, Inc. (NASDAQ:ATEC) was the target of a large growth in short interest in March. As of March 31st, there was short interest totalling 12,360,000 shares, a growth of 12.2% from the March 15th total of 11,020,000 shares. Based on an average daily trading volume, of 1,690,000 shares, the days-to-cover ratio is presently 7.3 days.

Analysts Set New Price Targets

A number of equities research analysts have commented on ATEC shares. Needham & Company LLC increased their price target on Alphatec from $22.00 to $23.00 and gave the company a “buy” rating in a research note on Thursday, March 28th. HC Wainwright reaffirmed a “buy” rating and set a $20.00 target price on shares of Alphatec in a report on Monday, March 4th. Canaccord Genuity Group reissued a “buy” rating and issued a $25.00 price objective on shares of Alphatec in a report on Wednesday, March 20th. Finally, Wells Fargo & Company started coverage on Alphatec in a report on Friday, February 9th. They issued an “overweight” rating and a $26.00 price objective on the stock. One research analyst has rated the stock with a sell rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $23.63.

Alphatec Trading Down 1.5 %

NASDAQ ATEC traded down $0.20 on Monday, reaching $13.10. 1,065,943 shares of the company were exchanged, compared to its average volume of 1,640,833. The business’s fifty day moving average price is $14.27 and its 200 day moving average price is $13.43. The stock has a market capitalization of $1.81 billion, a P/E ratio of -8.45 and a beta of 1.55. The company has a current ratio of 2.86, a quick ratio of 1.99 and a debt-to-equity ratio of 6.54. Alphatec has a fifty-two week low of $8.66 and a fifty-two week high of $19.14.

Alphatec (NASDAQ:ATEC) last announced its quarterly earnings results on Tuesday, February 27th. The medical technology company reported ($0.37) EPS for the quarter, missing the consensus estimate of ($0.28) by ($0.09). The firm had revenue of $138.00 million during the quarter, compared to analyst estimates of $131.90 million. During the same quarter in the previous year, the business posted ($0.33) earnings per share. The firm’s revenue was up 30.3% on a year-over-year basis. Analysts forecast that Alphatec will post -1.1 earnings per share for the current year.

Insider Transactions at Alphatec

In other news, Director Evan Bakst purchased 15,000 shares of the company’s stock in a transaction dated Thursday, March 14th. The shares were acquired at an average price of $13.53 per share, with a total value of $202,950.00. Following the transaction, the director now owns 15,000 shares of the company’s stock, valued at $202,950. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In related news, Director Evan Bakst acquired 15,000 shares of the company’s stock in a transaction that occurred on Thursday, March 14th. The shares were bought at an average price of $13.53 per share, with a total value of $202,950.00. Following the completion of the transaction, the director now directly owns 15,000 shares in the company, valued at $202,950. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, General Counsel Tyson Eliot Marshall sold 11,825 shares of the firm’s stock in a transaction dated Friday, March 1st. The shares were sold at an average price of $13.30, for a total value of $157,272.50. Following the sale, the general counsel now directly owns 305,095 shares in the company, valued at approximately $4,057,763.50. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 250,069 shares of company stock valued at $3,528,245. 29.12% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Alphatec

Large investors have recently modified their holdings of the business. BluePath Capital Management LLC acquired a new position in Alphatec during the 3rd quarter worth about $29,000. Macquarie Group Ltd. purchased a new position in Alphatec during the 1st quarter worth approximately $40,000. Lazard Asset Management LLC purchased a new position in Alphatec during the 2nd quarter worth approximately $49,000. Comerica Bank purchased a new position in Alphatec during the 3rd quarter worth approximately $36,000. Finally, State of Wyoming lifted its position in Alphatec by 59.1% during the 2nd quarter. State of Wyoming now owns 3,763 shares of the medical technology company’s stock worth $68,000 after acquiring an additional 1,398 shares during the period. Institutional investors and hedge funds own 66.35% of the company’s stock.

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.