Alphatec (NASDAQ:ATEC) Trading 9.1% Higher

Alphatec Holdings, Inc. (NASDAQ:ATEC) shares shot up 9.1% on Thursday . The stock traded as high as $11.63 and last traded at $11.56. 1,678,204 shares were traded during trading, an increase of 1% from the average session volume of 1,667,973 shares. The stock had previously closed at $10.60.

Analyst Ratings Changes

Several brokerages recently weighed in on ATEC. Canaccord Genuity Group reissued a “buy” rating and set a $25.00 price target on shares of Alphatec in a research report on Wednesday, March 20th. HC Wainwright restated a “buy” rating and issued a $20.00 target price on shares of Alphatec in a report on Monday, March 4th. Needham & Company LLC restated a “buy” rating and issued a $23.00 target price on shares of Alphatec in a report on Wednesday. Piper Sandler dropped their target price on shares of Alphatec from $19.00 to $17.00 and set an “overweight” rating on the stock in a report on Wednesday. Finally, Wells Fargo & Company assumed coverage on shares of Alphatec in a research note on Friday, February 9th. They set an “overweight” rating and a $26.00 price target on the stock. One equities research analyst has rated the stock with a sell rating and eight have given a buy rating to the stock. According to data from MarketBeat.com, Alphatec currently has an average rating of “Moderate Buy” and an average target price of $22.89.

Alphatec Price Performance

The company has a debt-to-equity ratio of 6.54, a quick ratio of 1.99 and a current ratio of 2.86. The firm has a market cap of $1.59 billion, a price-to-earnings ratio of -7.32 and a beta of 1.48. The stock’s 50 day simple moving average is $13.25 and its 200-day simple moving average is $13.54.

Alphatec (NASDAQ:ATEC) last released its quarterly earnings data on Tuesday, May 7th. The medical technology company reported ($0.34) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.33) by ($0.01). The firm had revenue of $138.48 million for the quarter, compared to analysts’ expectations of $134.07 million. Alphatec’s revenue for the quarter was up 26.9% on a year-over-year basis. During the same quarter in the prior year, the firm earned ($0.40) EPS. Equities research analysts anticipate that Alphatec Holdings, Inc. will post -1.1 EPS for the current fiscal year.

Insider Buying and Selling

In related news, EVP Craig E. Hunsaker sold 41,560 shares of the stock in a transaction on Monday, February 26th. The shares were sold at an average price of $15.05, for a total transaction of $625,478.00. Following the sale, the executive vice president now directly owns 1,188,444 shares of the company’s stock, valued at $17,886,082.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In other Alphatec news, EVP Craig E. Hunsaker sold 41,560 shares of the stock in a transaction on Monday, February 26th. The shares were sold at an average price of $15.05, for a total transaction of $625,478.00. Following the transaction, the executive vice president now directly owns 1,188,444 shares of the company’s stock, valued at $17,886,082.20. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CFO John Todd Koning sold 37,500 shares of the stock in a transaction on Wednesday, April 24th. The shares were sold at an average price of $12.82, for a total transaction of $480,750.00. Following the transaction, the chief financial officer now directly owns 393,356 shares in the company, valued at $5,042,823.92. The disclosure for this sale can be found here. Over the last three months, insiders have sold 285,069 shares of company stock valued at $3,971,495. Corporate insiders own 29.12% of the company’s stock.

Hedge Funds Weigh In On Alphatec

A number of institutional investors have recently bought and sold shares of the company. First Light Asset Management LLC raised its stake in shares of Alphatec by 97.0% in the 4th quarter. First Light Asset Management LLC now owns 5,976,851 shares of the medical technology company’s stock valued at $90,310,000 after acquiring an additional 2,943,310 shares during the period. Cerity Partners LLC purchased a new stake in shares of Alphatec in the 4th quarter valued at approximately $28,451,000. Artisan Partners Limited Partnership purchased a new stake in shares of Alphatec in the 4th quarter valued at approximately $19,050,000. abrdn plc grew its holdings in shares of Alphatec by 276.7% in the third quarter. abrdn plc now owns 1,382,770 shares of the medical technology company’s stock valued at $17,935,000 after purchasing an additional 1,015,668 shares in the last quarter. Finally, Fred Alger Management LLC grew its holdings in shares of Alphatec by 48.9% in the third quarter. Fred Alger Management LLC now owns 2,336,718 shares of the medical technology company’s stock valued at $30,307,000 after purchasing an additional 767,280 shares in the last quarter. 66.35% of the stock is owned by hedge funds and other institutional investors.

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.