Evan Bakst Buys 15,000 Shares of Alphatec Holdings, Inc. (NASDAQ:ATEC) Stock

Alphatec Holdings, Inc. (NASDAQ:ATECGet Free Report) Director Evan Bakst bought 15,000 shares of Alphatec stock in a transaction on Thursday, March 14th. The shares were acquired at an average price of $13.53 per share, for a total transaction of $202,950.00. Following the completion of the acquisition, the director now owns 15,000 shares in the company, valued at $202,950. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link.

Alphatec Trading Up 4.7 %

NASDAQ ATEC opened at $14.15 on Wednesday. The company has a debt-to-equity ratio of 6.54, a current ratio of 2.86 and a quick ratio of 1.99. The firm’s fifty day moving average price is $15.06 and its 200 day moving average price is $13.46. The company has a market capitalization of $1.95 billion, a price-to-earnings ratio of -9.13 and a beta of 1.58. Alphatec Holdings, Inc. has a 12 month low of $8.66 and a 12 month high of $19.14.

Alphatec (NASDAQ:ATECGet Free Report) last posted its earnings results on Tuesday, February 27th. The medical technology company reported ($0.37) EPS for the quarter, missing analysts’ consensus estimates of ($0.28) by ($0.09). The company had revenue of $138.00 million for the quarter, compared to analysts’ expectations of $131.90 million. Alphatec’s revenue was up 30.3% on a year-over-year basis. During the same quarter last year, the business earned ($0.33) earnings per share. On average, sell-side analysts expect that Alphatec Holdings, Inc. will post -1.11 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the stock. Intrinsic Edge Capital Management LLC grew its position in shares of Alphatec by 63.4% in the 2nd quarter. Intrinsic Edge Capital Management LLC now owns 1,078,284 shares of the medical technology company’s stock valued at $19,388,000 after buying an additional 418,289 shares during the last quarter. Assenagon Asset Management S.A. grew its position in Alphatec by 10.5% during the 3rd quarter. Assenagon Asset Management S.A. now owns 1,587,516 shares of the medical technology company’s stock worth $20,590,000 after purchasing an additional 151,249 shares during the last quarter. American Century Companies Inc. grew its position in Alphatec by 24.5% during the 3rd quarter. American Century Companies Inc. now owns 2,655,328 shares of the medical technology company’s stock worth $34,440,000 after purchasing an additional 523,323 shares during the last quarter. abrdn plc grew its position in Alphatec by 276.7% during the 3rd quarter. abrdn plc now owns 1,382,770 shares of the medical technology company’s stock worth $17,935,000 after purchasing an additional 1,015,668 shares during the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. grew its position in Alphatec by 77.3% during the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 461,511 shares of the medical technology company’s stock worth $5,986,000 after purchasing an additional 201,249 shares during the last quarter. 67.19% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on ATEC shares. HC Wainwright reiterated a “buy” rating and set a $20.00 target price on shares of Alphatec in a report on Monday, March 4th. Needham & Company LLC reiterated a “buy” rating and set a $19.00 target price on shares of Alphatec in a report on Wednesday, February 28th. Finally, Wells Fargo & Company started coverage on shares of Alphatec in a report on Friday, February 9th. They set an “overweight” rating and a $26.00 target price on the stock. One investment analyst has rated the stock with a sell rating and seven have assigned a buy rating to the company. According to data from MarketBeat.com, Alphatec presently has an average rating of “Moderate Buy” and a consensus target price of $22.75.

Get Our Latest Stock Analysis on ATEC

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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