Alphatec (NASDAQ:ATEC) Shares Pass Above 200 Day Moving Average – Time to Sell?

Alphatec Holdings, Inc. (NASDAQ:ATEC)’s stock price crossed above its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of $15.75 and traded as high as $21.20. Alphatec shares last traded at $20.98, with a volume of 1,149,093 shares traded.

Analysts Set New Price Targets

ATEC has been the subject of a number of recent research reports. Piper Sandler restated an “overweight” rating and issued a $25.00 target price (up from $20.00) on shares of Alphatec in a research note on Friday, October 31st. Weiss Ratings reissued a “sell (e+)” rating on shares of Alphatec in a report on Monday, December 22nd. Lake Street Capital set a $25.00 price objective on shares of Alphatec and gave the stock a “buy” rating in a report on Friday, October 31st. Stifel Nicolaus initiated coverage on shares of Alphatec in a research report on Tuesday, October 28th. They set a “buy” rating and a $20.00 target price on the stock. Finally, Barclays upped their target price on shares of Alphatec from $22.00 to $23.00 and gave the company an “overweight” rating in a research note on Monday, November 3rd. Nine investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $22.45.

Alphatec Trading Up 0.0%

The company’s fifty day moving average price is $19.82 and its two-hundred day moving average price is $15.75. The company has a quick ratio of 1.24, a current ratio of 1.99 and a debt-to-equity ratio of 43.02. The company has a market cap of $3.12 billion, a price-to-earnings ratio of -20.17 and a beta of 1.08.

Alphatec (NASDAQ:ATEC) last released its quarterly earnings results on Thursday, October 30th. The medical technology company reported $0.03 EPS for the quarter, topping analysts’ consensus estimates of ($0.06) by $0.09. The business had revenue of $196.50 million for the quarter, compared to the consensus estimate of $182.78 million. During the same quarter last year, the company earned ($0.28) earnings per share. The firm’s revenue was up 30.4% on a year-over-year basis. Research analysts expect that Alphatec Holdings, Inc. will post -1.08 earnings per share for the current year.

Insider Activity at Alphatec

In other news, EVP Craig E. Hunsaker sold 32,584 shares of the firm’s stock in a transaction on Wednesday, December 10th. The stock was sold at an average price of $20.84, for a total value of $679,050.56. Following the completion of the sale, the executive vice president directly owned 1,256,558 shares in the company, valued at approximately $26,186,668.72. This trade represents a 2.53% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, EVP David Sponsel sold 21,106 shares of Alphatec stock in a transaction dated Wednesday, December 10th. The shares were sold at an average price of $20.79, for a total value of $438,793.74. Following the completion of the transaction, the executive vice president directly owned 439,767 shares of the company’s stock, valued at $9,142,755.93. This represents a 4.58% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last ninety days, insiders have sold 3,403,342 shares of company stock valued at $69,111,381. 22.80% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Alphatec

Large investors have recently modified their holdings of the stock. Granite Investment Partners LLC increased its holdings in shares of Alphatec by 320.6% in the second quarter. Granite Investment Partners LLC now owns 1,720,944 shares of the medical technology company’s stock valued at $19,102,000 after purchasing an additional 1,311,748 shares in the last quarter. Tudor Investment Corp ET AL boosted its position in Alphatec by 608.4% in the 3rd quarter. Tudor Investment Corp ET AL now owns 900,491 shares of the medical technology company’s stock valued at $13,093,000 after buying an additional 773,367 shares during the last quarter. Assenagon Asset Management S.A. increased its stake in shares of Alphatec by 7,083.2% in the 3rd quarter. Assenagon Asset Management S.A. now owns 750,429 shares of the medical technology company’s stock valued at $10,911,000 after buying an additional 739,982 shares during the period. Two Sigma Investments LP raised its position in shares of Alphatec by 59.0% during the third quarter. Two Sigma Investments LP now owns 1,794,324 shares of the medical technology company’s stock worth $26,089,000 after acquiring an additional 665,634 shares during the last quarter. Finally, Bank of Montreal Can lifted its stake in shares of Alphatec by 545.7% during the second quarter. Bank of Montreal Can now owns 743,041 shares of the medical technology company’s stock valued at $8,248,000 after acquiring an additional 627,973 shares during the period. 66.35% of the stock is currently owned by institutional investors and hedge funds.

Alphatec Company Profile

Alphatec Holdings, Inc (NASDAQ: ATEC) is a medical technology company focused on the design, development and commercialization of products for the surgical correction of degenerative spinal conditions. The company’s portfolio centers on interbody implants, biologics, fixation devices and surgical planning tools intended to improve patient outcomes in spinal fusion procedures. Alphatec’s flagship offerings include customizable interbody cages, bone graft materials and specialized instrumentation designed for minimally invasive and open spinal surgeries.

Founded as Alphatec Spine in 1985 and rebranded as Alphatec Holdings in 2018, the company has grown from a single-product organization into a multi-platform innovator in the spine market.