Alphatec (NASDAQ:ATEC) Trading Up 6.6%

Alphatec Holdings, Inc. (NASDAQ:ATEC) traded up 6.6% during mid-day trading on Friday . The company traded as high as $5.85 and last traded at $5.85. 387,730 shares changed hands during trading, a decline of 79% from the average session volume of 1,857,139 shares. The stock had previously closed at $5.49.

Wall Street Analysts Forecast Growth

ATEC has been the subject of several analyst reports. Barclays assumed coverage on Alphatec in a report on Monday, July 8th. They issued an “overweight” rating and a $19.00 price target for the company. HC Wainwright reaffirmed a “buy” rating and set a $20.00 price objective on shares of Alphatec in a research note on Thursday, August 1st. Wells Fargo & Company decreased their target price on shares of Alphatec from $26.00 to $19.00 and set an “overweight” rating on the stock in a research report on Thursday, August 1st. Piper Sandler lowered their target price on shares of Alphatec from $17.00 to $12.00 and set an “overweight” rating for the company in a report on Thursday, August 1st. Finally, Stifel Nicolaus cut their price target on shares of Alphatec from $19.00 to $16.00 and set a “buy” rating on the stock in a research note on Thursday, August 1st. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $17.50.

Alphatec Stock Performance

The stock’s 50 day moving average price is $6.93 and its 200 day moving average price is $10.10. The company has a current ratio of 2.22, a quick ratio of 1.21 and a debt-to-equity ratio of 30.21. The firm has a market cap of $797.34 million, a PE ratio of -3.93 and a beta of 1.40.

Alphatec (NASDAQ:ATEC) last announced its earnings results on Wednesday, July 31st. The medical technology company reported ($0.29) EPS for the quarter, missing the consensus estimate of ($0.26) by ($0.03). The company had revenue of $145.57 million for the quarter, compared to analysts’ expectations of $144.55 million. Alphatec had a negative net margin of 33.48% and a negative return on equity of 816.57%. The business’s quarterly revenue was up 24.5% compared to the same quarter last year. During the same quarter in the previous year, the business posted ($0.43) earnings per share. As a group, equities analysts forecast that Alphatec Holdings, Inc. will post -1.08 earnings per share for the current fiscal year.

Insider Transactions at Alphatec

In other news, Director David M. Demski purchased 50,000 shares of the stock in a transaction that occurred on Wednesday, August 21st. The stock was acquired at an average cost of $5.67 per share, with a total value of $283,500.00. Following the acquisition, the director now owns 288,441 shares in the company, valued at $1,635,460.47. The acquisition was disclosed in a legal filing with the SEC, which is available at the SEC website. Corporate insiders own 22.80% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the business. Charles Schwab Investment Management Inc. raised its position in shares of Alphatec by 20.2% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 746,781 shares of the medical technology company’s stock valued at $11,284,000 after purchasing an additional 125,488 shares in the last quarter. Pura Vida Investments LLC bought a new position in Alphatec during the 4th quarter valued at $4,609,000. Magnetar Financial LLC acquired a new position in Alphatec during the 2nd quarter worth $10,957,000. First Light Asset Management LLC increased its position 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 worth $90,310,000 after purchasing an additional 2,943,310 shares during the last quarter. Finally, Congress Asset Management Co. MA acquired a new stake in shares of Alphatec in the 1st quarter valued at about $1,829,000. 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.