Traders Buy High Volume of Alphatec Put Options (NASDAQ:ATEC)

Alphatec Holdings, Inc. (NASDAQ:ATEC) was the recipient of unusually large options trading on Tuesday. Stock investors acquired 4,816 put options on the stock. This is an increase of 246% compared to the typical volume of 1,392 put options.

Alphatec Stock Down 2.7 %

NASDAQ ATEC opened at $9.91 on Wednesday. The company has a quick ratio of 1.15, a current ratio of 2.32 and a debt-to-equity ratio of 30.21. Alphatec has a fifty-two week low of $4.88 and a fifty-two week high of $13.79. The business has a 50 day moving average price of $10.41 and a two-hundred day moving average price of $9.38. The stock has a market cap of $1.43 billion, a PE ratio of -7.74 and a beta of 1.20.

Alphatec (NASDAQ:ATEC) last issued 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). Alphatec had a negative return on equity of 541.39% and a negative net margin of 31.06%. The firm had revenue of $176.79 million during the quarter, compared to analyst estimates of $172.74 million. As a group, sell-side analysts predict that Alphatec will post -1.08 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

ATEC has been the subject of several recent analyst reports. StockNews.com upgraded shares of Alphatec from a “sell” rating to a “hold” rating in a research note on Friday, February 28th. HC Wainwright reaffirmed a “buy” rating and issued a $20.00 price objective on shares of Alphatec in a research note on Monday. Needham & Company LLC reiterated a “buy” rating and issued a $16.00 price objective on shares of Alphatec in a research report on Thursday, February 27th. Piper Sandler raised 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. Finally, Barclays lifted their price objective on Alphatec from $20.00 to $21.00 and gave the stock an “overweight” rating in a research report on Wednesday, January 22nd. Two research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $17.67.

Insider Buying and Selling

In other news, EVP David Sponsel sold 36,256 shares of the firm’s stock in a transaction on Monday, February 3rd. The shares were sold at an average price of $11.42, for a total value of $414,043.52. Following the completion of the sale, the executive vice president now owns 735,074 shares in the company, valued at approximately $8,394,545.08. This trade represents a 4.70 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Patrick Miles sold 6,687 shares of Alphatec stock in a transaction dated Tuesday, January 21st. The shares were sold at an average price of $12.00, for a total transaction of $80,244.00. Following the completion of the sale, the chief executive officer now directly owns 5,501,715 shares in the company, valued at approximately $66,020,580. The trade was a 0.12 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 278,800 shares of company stock valued at $3,201,469 over the last three months. 22.80% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the stock. BNP Paribas Financial Markets raised its stake in Alphatec by 73.7% during the third quarter. BNP Paribas Financial Markets now owns 21,603 shares of the medical technology company’s stock valued at $120,000 after buying an additional 9,165 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in shares of Alphatec by 3.0% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 201,672 shares of the medical technology company’s stock valued at $1,121,000 after acquiring an additional 5,883 shares in the last quarter. HighTower Advisors LLC raised its position in shares of Alphatec by 16.2% during the 3rd quarter. HighTower Advisors LLC now owns 52,232 shares of the medical technology company’s stock valued at $290,000 after acquiring an additional 7,299 shares in the last quarter. Stifel Financial Corp lifted its stake in Alphatec by 19.7% during the third quarter. Stifel Financial Corp now owns 178,702 shares of the medical technology company’s stock worth $994,000 after purchasing an additional 29,411 shares during the last quarter. Finally, State Street Corp boosted its holdings in Alphatec by 10.1% in the third quarter. State Street Corp now owns 3,138,960 shares of the medical technology company’s stock worth $17,453,000 after purchasing an additional 287,350 shares during the period. 66.35% of the stock is 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.