Alphatec (NASDAQ:ATEC) Sets New 52-Week High – Here’s Why

Alphatec Holdings, Inc. (NASDAQ:ATEC)’s stock price hit a new 52-week high during mid-day trading on Saturday . The company traded as high as $13.89 and last traded at $13.77, with a volume of 12995953 shares changing hands. The stock had previously closed at $10.58.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on the stock. HC Wainwright reissued a “buy” rating and set a $20.00 target price on shares of Alphatec in a research note on Monday, April 14th. Piper Sandler reissued an “overweight” rating and set a $15.00 target price (up previously from $13.00) on shares of Alphatec in a research note on Friday, May 2nd. Lake Street Capital raised shares of Alphatec to a “buy” rating and set a $18.00 target price for the company in a research note on Monday, June 16th. Canaccord Genuity Group reissued a “buy” rating and set a $20.00 target price on shares of Alphatec in a research note on Friday. Finally, Needham & Company LLC reissued a “buy” rating and set a $16.00 target price on shares of Alphatec in a research note on Friday, May 2nd. One investment analyst has rated the stock with a hold rating and six have assigned a buy rating to the stock. According to MarketBeat.com, Alphatec has a consensus rating of “Moderate Buy” and a consensus price target of $18.33.

Alphatec Stock Up 30.2%

The firm has a market cap of $2.04 billion, a P/E ratio of -12.19 and a beta of 1.05. The business’s fifty day moving average price is $11.37 and its two-hundred day moving average price is $11.15. The company has a current ratio of 2.88, a quick ratio of 1.77 and a debt-to-equity ratio of 23.22.

Alphatec (NASDAQ:ATEC) last released its quarterly earnings results on Thursday, July 31st. The medical technology company reported $0.02 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.06) by $0.08. The business had revenue of $185.54 million for the quarter, compared to the consensus estimate of $178.85 million. Alphatec had a negative net margin of 24.33% and a negative return on equity of 1,657.19%. Alphatec’s revenue for the quarter was up 27.5% on a year-over-year basis. During the same quarter last year, the firm earned ($0.29) EPS. As a group, equities research analysts anticipate that Alphatec Holdings, Inc. will post -1.08 EPS for the current year.

Insider Activity

In related news, COO Scott Lish sold 55,375 shares of Alphatec stock in a transaction on Monday, May 19th. The shares were sold at an average price of $13.00, for a total value of $719,875.00. Following the transaction, the chief operating officer owned 771,645 shares in the company, valued at $10,031,385. This trade represents a 6.70% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Karen K. Mcginnis sold 3,963 shares of Alphatec stock in a transaction on Wednesday, June 11th. The stock was sold at an average price of $12.11, for a total transaction of $47,991.93. Following the completion of the transaction, the director owned 68,709 shares in the company, valued at $832,065.99. This trade represents a 5.45% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 287,547 shares of company stock worth $3,553,516. 22.80% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the company. Wealth Enhancement Advisory Services LLC raised its holdings in Alphatec by 301.0% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 59,987 shares of the medical technology company’s stock worth $608,000 after acquiring an additional 45,027 shares during the period. GAMMA Investing LLC increased its holdings in shares of Alphatec by 38,433.3% during the 1st quarter. GAMMA Investing LLC now owns 2,312 shares of the medical technology company’s stock worth $228,000 after purchasing an additional 2,306 shares during the period. SG Americas Securities LLC increased its holdings in shares of Alphatec by 28.3% during the 1st quarter. SG Americas Securities LLC now owns 56,927 shares of the medical technology company’s stock worth $577,000 after purchasing an additional 12,553 shares during the period. Oppenheimer Asset Management Inc. increased its holdings in shares of Alphatec by 13.4% during the 1st quarter. Oppenheimer Asset Management Inc. now owns 13,144 shares of the medical technology company’s stock worth $133,000 after purchasing an additional 1,552 shares during the period. Finally, Rhumbline Advisers increased its holdings in shares of Alphatec by 6.9% during the 1st quarter. Rhumbline Advisers now owns 148,749 shares of the medical technology company’s stock worth $1,508,000 after purchasing an additional 9,661 shares during the period. Institutional investors own 66.35% of the company’s stock.

Alphatec Company Profile

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.