Alphatec (NASDAQ:ATEC) Hits New 52-Week High – Here’s Why

Alphatec Holdings, Inc. (NASDAQ:ATEC)’s share price hit a new 52-week high on Wednesday . The company traded as high as $12.85 and last traded at $12.72, with a volume of 985887 shares. The stock had previously closed at $12.67.

Wall Street Analysts Forecast Growth

ATEC has been the topic of a number of recent analyst reports. Barclays increased their price target on Alphatec from $20.00 to $21.00 and gave the stock an “overweight” rating in a research note on Wednesday, January 22nd. Piper Sandler reaffirmed an “overweight” rating and issued a $15.00 target price (up from $13.00) on shares of Alphatec in a research report on Friday, May 2nd. StockNews.com raised Alphatec from a “sell” rating to a “hold” rating in a research report on Friday, February 28th. Needham & Company LLC reaffirmed a “buy” rating and issued a $16.00 target price on shares of Alphatec in a research report on Friday, May 2nd. Finally, HC Wainwright reaffirmed a “buy” rating and issued a $20.00 target price on shares of Alphatec in a research report on Monday, April 14th. Two analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $17.89.

Alphatec Stock Performance

The stock has a market capitalization of $1.86 billion, a price-to-earnings ratio of -9.95 and a beta of 1.06. The company has a debt-to-equity ratio of 30.21, a quick ratio of 1.15 and a current ratio of 2.32. The firm has a fifty day moving average of $10.67 and a 200-day moving average of $10.30.

Alphatec (NASDAQ:ATEC) last announced its quarterly earnings results on Thursday, May 1st. The medical technology company reported ($0.35) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.12) by ($0.23). Alphatec had a negative net margin of 31.06% and a negative return on equity of 541.39%. The company had revenue of $169.18 million during the quarter, compared to analyst estimates of $167.57 million. During the same quarter in the prior year, the company posted ($0.34) earnings per share. The firm’s revenue for the quarter was up 22.2% on a year-over-year basis. As a group, equities analysts predict that Alphatec Holdings, Inc. will post -1.08 earnings per share for the current fiscal year.

Insider Activity at Alphatec

In other news, EVP David Sponsel sold 12,946 shares of the firm’s stock in a transaction dated Monday, February 24th. The stock was sold at an average price of $10.73, for a total transaction of $138,910.58. Following the completion of the sale, the executive vice president now directly owns 722,128 shares in the company, valued at $7,748,433.44. This trade represents a 1.76% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Patrick Miles sold 32,393 shares of the firm’s stock in a transaction dated Wednesday, February 26th. The shares were sold at an average price of $10.89, for a total value of $352,759.77. Following the sale, the chief executive officer now owns 5,940,391 shares of the company’s stock, valued at $64,690,857.99. This represents a 0.54% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 126,945 shares of company stock worth $1,416,352. Corporate insiders own 20.90% of the company’s stock.

Hedge Funds Weigh In On Alphatec

A number of hedge funds have recently bought and sold shares of ATEC. Ballentine Partners LLC acquired a new position in Alphatec in the fourth quarter worth about $120,000. Nisa Investment Advisors LLC grew its stake in Alphatec by 973.3% in the fourth quarter. Nisa Investment Advisors LLC now owns 4,669 shares of the medical technology company’s stock worth $43,000 after purchasing an additional 4,234 shares in the last quarter. Mount Yale Investment Advisors LLC acquired a new position in Alphatec in the fourth quarter worth about $152,000. R Squared Ltd acquired a new position in Alphatec in the fourth quarter worth about $29,000. Finally, Newton One Investments LLC acquired a new position in Alphatec in the fourth quarter worth about $50,000. 66.35% of the stock is currently owned by institutional investors and hedge funds.

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.