Alphatec (NASDAQ:ATEC) Shares Gap Up – Still a Buy?

Alphatec Holdings, Inc. (NASDAQ:ATEC) shares gapped up prior to trading on Monday . The stock had previously closed at $9.52, but opened at $10.00. Alphatec shares last traded at $10.1270, with a volume of 334,817 shares traded.

Analyst Ratings Changes

ATEC has been the subject of several research analyst reports. Wall Street Zen lowered shares of Alphatec from a “buy” rating to a “hold” rating in a report on Sunday, July 12th. Barclays dropped their price objective on Alphatec from $27.00 to $24.00 and set an “overweight” rating on the stock in a research note on Thursday, May 7th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Alphatec in a report on Monday. Canaccord Genuity Group lowered their price target on Alphatec from $25.00 to $23.00 and set a “buy” rating for the company in a report on Wednesday, May 6th. Finally, BMO Capital Markets assumed coverage on Alphatec in a report on Wednesday, July 8th. They set an “outperform” rating and a $11.00 price objective on the stock. One analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating, one has given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, Alphatec has a consensus rating of “Moderate Buy” and an average price target of $17.13.

Alphatec Trading Up 2.0%

The company has a market capitalization of $1.59 billion, a P/E ratio of -12.62 and a beta of 0.85. The business has a fifty day moving average price of $8.70 and a 200 day moving average price of $10.83. The company has a quick ratio of 1.12, a current ratio of 1.90 and a debt-to-equity ratio of 40.35.

Alphatec (NASDAQ:ATEC) last announced its earnings results on Tuesday, August 4th. The medical technology company reported $0.07 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.07. The business had revenue of $213.51 million for the quarter, compared to analyst estimates of $211.26 million. Alphatec had a negative return on equity of 1,183.84% and a negative net margin of 15.93%.Alphatec’s revenue for the quarter was up 15.1% compared to the same quarter last year. During the same quarter last year, the firm earned $0.02 EPS. On average, analysts expect that Alphatec Holdings, Inc. will post -0.44 earnings per share for the current fiscal year.

Insider Activity

In other news, Director Karen K. Mcginnis sold 6,050 shares of the business’s stock in a transaction on Thursday, June 11th. The shares were sold at an average price of $8.01, for a total value of $48,460.50. Following the sale, the director owned 94,671 shares of the company’s stock, valued at $758,314.71. The trade was a 6.01% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. 13.48% of the stock is owned by company insiders.

Institutional Investors Weigh In On Alphatec

Several hedge funds and other institutional investors have recently added to or reduced their stakes in ATEC. Universal Beteiligungs und Servicegesellschaft mbH acquired a new stake in shares of Alphatec in the fourth quarter valued at about $3,691,000. Pier Capital LLC acquired a new position in Alphatec during the fourth quarter valued at approximately $4,835,000. Jefferies Financial Group Inc. grew its stake in Alphatec by 983.5% in the fourth quarter. Jefferies Financial Group Inc. now owns 595,937 shares of the medical technology company’s stock valued at $12,539,000 after purchasing an additional 540,937 shares in the last quarter. Lisanti Capital Growth LLC grew its stake in Alphatec by 63.8% in the fourth quarter. Lisanti Capital Growth LLC now owns 372,407 shares of the medical technology company’s stock valued at $7,835,000 after purchasing an additional 145,120 shares in the last quarter. Finally, Emerald Advisers LLC increased its position in shares of Alphatec by 10.4% during the 1st quarter. Emerald Advisers LLC now owns 1,807,307 shares of the medical technology company’s stock worth $19,664,000 after purchasing an additional 169,578 shares during the last quarter. 66.35% of the stock is currently owned by institutional investors and hedge funds.

Alphatec Company Profile

Alphatec Holdings, Inc (NASDAQ: ATEC) is a medical technology company focused on the design, development and commercialization of products for the surgical correction of degenerative spinal conditions. The company’s portfolio centers on interbody implants, biologics, fixation devices and surgical planning tools intended to improve patient outcomes in spinal fusion procedures. Alphatec’s flagship offerings include customizable interbody cages, bone graft materials and specialized instrumentation designed for minimally invasive and open spinal surgeries.

Founded as Alphatec Spine in 1985 and rebranded as Alphatec Holdings in 2018, the company has grown from a single-product organization into a multi-platform innovator in the spine market.