Alphatec (NASDAQ:ATEC) Stock Price Up 3.9% – Still a Buy?

Alphatec Holdings, Inc. (NASDAQ:ATEC)’s share price was up 3.9% during trading on Thursday . The stock traded as high as $9.92 and last traded at $9.91. Approximately 521,116 shares traded hands during mid-day trading, a decline of 74% from the average daily volume of 1,971,084 shares. The stock had previously closed at $9.54.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on ATEC. HC Wainwright reissued a “buy” rating and set a $20.00 price objective on shares of Alphatec in a research report on Tuesday, January 14th. StockNews.com upgraded shares of Alphatec from a “sell” rating to a “hold” rating in a report on Friday, February 28th. Piper Sandler lifted their target price on shares of Alphatec from $12.00 to $13.00 and gave the company an “overweight” rating in a report on Thursday, February 27th. Needham & Company LLC restated a “buy” rating and set a $16.00 price target on shares of Alphatec in a research note on Thursday, February 27th. Finally, Barclays lifted their price objective on Alphatec from $20.00 to $21.00 and gave the company an “overweight” rating in a research note on Wednesday, January 22nd. Two investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $17.67.

Alphatec Stock Up 6.2 %

The firm has a market cap of $1.46 billion, a PE ratio of -7.89 and a beta of 1.39. The company has a current ratio of 2.32, a quick ratio of 1.15 and a debt-to-equity ratio of 30.21. The firm has a 50 day moving average price of $10.95 and a 200-day moving average price of $8.80.

Alphatec (NASDAQ:ATEC) last announced its quarterly earnings data on Wednesday, February 26th. The medical technology company reported ($0.23) EPS for the quarter, missing analysts’ consensus estimates of ($0.19) by ($0.04). The firm had revenue of $176.79 million during the quarter, compared to analysts’ expectations of $172.74 million. Alphatec had a negative net margin of 31.06% and a negative return on equity of 541.39%. Research analysts forecast that Alphatec Holdings, Inc. will post -1.08 EPS for the current fiscal year.

Insider Transactions at Alphatec

In related news, CEO Patrick Miles sold 50,000 shares of the firm’s stock in a transaction dated Wednesday, January 29th. The shares were sold at an average price of $12.03, for a total value of $601,500.00. Following the completion of the sale, the chief executive officer now owns 6,152,544 shares in the company, valued at $74,015,104.32. This trade represents a 0.81 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP David Sponsel sold 58,283 shares of the company’s stock in a transaction dated Monday, January 13th. The stock was sold at an average price of $10.71, for a total transaction of $624,210.93. Following the transaction, the executive vice president now owns 502,311 shares in the company, valued at $5,379,750.81. The trade was a 10.40 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 337,321 shares of company stock valued at $3,828,060. 22.80% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Alphatec

Several institutional investors have recently modified their holdings of the company. Wealth Enhancement Advisory Services LLC acquired a new stake in Alphatec in the fourth quarter valued at $137,000. PharVision Advisers LLC purchased a new position in Alphatec during the 4th quarter valued at about $201,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in Alphatec by 11.4% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 224,643 shares of the medical technology company’s stock worth $2,062,000 after acquiring an additional 22,971 shares during the last quarter. Western Standard LLC purchased a new stake in shares of Alphatec in the fourth quarter valued at about $6,668,000. Finally, Soviero Asset Management LP acquired a new stake in shares of Alphatec in the fourth quarter valued at approximately $918,000. Hedge funds and other institutional investors 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.