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

Alphatec Holdings, Inc. (NASDAQ:ATEC)’s share price hit a new 52-week high during trading on Wednesday . The stock traded as high as $12.85 and last traded at $12.72, with a volume of 985887 shares. The stock had previously closed at $12.67.

Analyst Ratings Changes

Several brokerages recently commented on ATEC. Piper Sandler reaffirmed an “overweight” rating and set a $15.00 price objective (up previously from $13.00) on shares of Alphatec in a research note on Friday, May 2nd. HC Wainwright reissued a “buy” rating and issued a $20.00 price target on shares of Alphatec in a research note on Monday, April 14th. StockNews.com raised Alphatec from a “sell” rating to a “hold” rating in a research report on Friday, February 28th. Needham & Company LLC reaffirmed a “buy” rating and set a $16.00 price objective on shares of Alphatec in a research report on Friday, May 2nd. Finally, Barclays upped 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 issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $17.89.

Alphatec Trading Up 0.4%

The company has a debt-to-equity ratio of 30.21, a current ratio of 2.32 and a quick ratio of 1.15. The business has a 50-day moving average of $10.56 and a 200-day moving average of $10.23. The firm has a market cap of $1.86 billion, a price-to-earnings ratio of -9.94 and a beta of 1.06.

Alphatec (NASDAQ:ATEC) last posted its quarterly earnings results on Thursday, May 1st. The medical technology company reported ($0.35) EPS for the quarter, missing analysts’ consensus estimates of ($0.12) by ($0.23). Alphatec had a negative return on equity of 541.39% and a negative net margin of 31.06%. The business had revenue of $169.18 million for the quarter, compared to the consensus estimate of $167.57 million. During the same quarter in the previous year, the business posted ($0.34) EPS. The company’s revenue for the quarter was up 22.2% on a year-over-year basis. Research analysts anticipate that Alphatec Holdings, Inc. will post -1.08 EPS for the current year.

Insider Buying and Selling

In other news, COO Scott Lish sold 12,000 shares of the business’s stock in a transaction that occurred on Monday, May 5th. The stock was sold at an average price of $12.12, for a total transaction of $145,440.00. Following the completion of the sale, the chief operating officer now owns 826,251 shares in the company, valued at $10,014,162.12. The trade was a 1.43% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO Patrick Miles sold 32,393 shares of Alphatec stock in a transaction that occurred on Wednesday, February 26th. The shares were sold at an average price of $10.89, for a total transaction of $352,759.77. Following the completion of the sale, the chief executive officer now owns 5,940,391 shares of the company’s stock, valued at approximately $64,690,857.99. The trade was a 0.54% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 126,945 shares of company stock worth $1,416,352. Company insiders own 20.90% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the company. Northern Trust Corp raised its position in Alphatec by 3.4% during the first quarter. Northern Trust Corp now owns 1,049,469 shares of the medical technology company’s stock valued at $10,642,000 after purchasing an additional 34,726 shares in the last quarter. American Century Companies Inc. increased its holdings in shares of Alphatec by 16.9% during the first quarter. American Century Companies Inc. now owns 5,830,031 shares of the medical technology company’s stock worth $59,117,000 after buying an additional 840,974 shares in the last quarter. Aberdeen Group plc increased its holdings in shares of Alphatec by 5.3% during the first quarter. Aberdeen Group plc now owns 1,131,707 shares of the medical technology company’s stock worth $11,476,000 after buying an additional 56,995 shares in the last quarter. Russell Investments Group Ltd. increased its holdings in shares of Alphatec by 68.3% during the first quarter. Russell Investments Group Ltd. now owns 336,463 shares of the medical technology company’s stock worth $3,412,000 after buying an additional 136,577 shares in the last quarter. Finally, Motley Fool Asset Management LLC acquired a new position in shares of Alphatec during the first quarter worth $6,346,000. 66.35% of the stock is currently owned by institutional investors and hedge funds.

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.