Alphatec (NASDAQ:ATEC) Trading Up 8.1%

Alphatec Holdings, Inc. (NASDAQ:ATECGet Free Report) shot up 8.1% during trading on Wednesday . The company traded as high as $11.22 and last traded at $11.19. 699,969 shares changed hands during mid-day trading, a decline of 57% from the average session volume of 1,646,881 shares. The stock had previously closed at $10.35.

Analysts Set New Price Targets

A number of brokerages recently commented on ATEC. Piper Sandler cut their target price on Alphatec from $19.00 to $17.00 and set an “overweight” rating for the company in a research note on Wednesday, May 8th. HC Wainwright restated a “buy” rating and issued a $20.00 target price on shares of Alphatec in a research note on Monday, March 4th. Needham & Company LLC restated a “buy” rating and issued a $23.00 target price on shares of Alphatec in a research note on Wednesday, May 8th. Finally, Canaccord Genuity Group reiterated a “buy” rating and set a $25.00 price objective on shares of Alphatec in a research note on Wednesday, March 20th. One research analyst has rated the stock with a sell rating and eight have issued a buy rating to the stock. Based on data from MarketBeat.com, Alphatec has an average rating of “Moderate Buy” and an average target price of $22.89.

Get Our Latest Stock Analysis on Alphatec

Alphatec Stock Down 0.6 %

The firm has a 50 day simple moving average of $11.72 and a 200-day simple moving average of $13.49. The company has a debt-to-equity ratio of 13.63, a current ratio of 2.39 and a quick ratio of 1.49. The stock has a market capitalization of $1.49 billion, a price-to-earnings ratio of -7.15 and a beta of 1.41.

Alphatec (NASDAQ:ATECGet Free Report) last announced its earnings results on Tuesday, May 7th. The medical technology company reported ($0.34) EPS for the quarter, missing the consensus estimate of ($0.33) by ($0.01). The business had revenue of $138.48 million for the quarter, compared to the consensus estimate of $134.07 million. Alphatec had a negative return on equity of 1,767.81% and a negative net margin of 37.45%. Alphatec’s revenue for the quarter was up 26.9% on a year-over-year basis. During the same quarter in the previous year, the company posted ($0.40) EPS. On average, sell-side analysts forecast that Alphatec Holdings, Inc. will post -1.05 EPS for the current fiscal year.

Insider Transactions at Alphatec

In other news, CFO John Todd Koning sold 37,500 shares of the stock in a transaction on Wednesday, April 24th. The stock was sold at an average price of $12.82, for a total transaction of $480,750.00. Following the sale, the chief financial officer now owns 393,356 shares in the company, valued at $5,042,823.92. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In related news, CFO John Todd Koning sold 37,500 shares of the firm’s stock in a transaction dated Wednesday, April 24th. The stock was sold at an average price of $12.82, for a total value of $480,750.00. Following the transaction, the chief financial officer now owns 393,356 shares in the company, valued at $5,042,823.92. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, General Counsel Tyson Eliot Marshall sold 50,232 shares of the firm’s stock in a transaction dated Wednesday, June 12th. The shares were sold at an average price of $10.88, for a total value of $546,524.16. Following the completion of the transaction, the general counsel now owns 245,638 shares in the company, valued at approximately $2,672,541.44. The disclosure for this sale can be found here. Company insiders own 22.80% of the company’s stock.

Hedge Funds Weigh In On Alphatec

Several hedge funds have recently added to or reduced their stakes in the company. Provence Wealth Management Group bought a new position in Alphatec during the third quarter worth about $56,000. RiverPark Advisors LLC raised its position in shares of Alphatec by 22.6% in the 4th quarter. RiverPark Advisors LLC now owns 5,033 shares of the medical technology company’s stock valued at $76,000 after acquiring an additional 928 shares during the period. Comerica Bank boosted its stake in Alphatec by 64.8% during the 1st quarter. Comerica Bank now owns 6,443 shares of the medical technology company’s stock worth $89,000 after acquiring an additional 2,534 shares during the last quarter. Van ECK Associates Corp acquired a new position in Alphatec during the third quarter valued at approximately $113,000. Finally, Tidemark LLC bought a new stake in Alphatec in the fourth quarter valued at approximately $137,000. Institutional investors own 66.35% of the company’s stock.

Alphatec Company Profile

(Get Free Report)

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.

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