Alphatec (NASDAQ:ATEC) Sees Strong Trading Volume Following Insider Buying Activity

Shares of Alphatec Holdings, Inc. (NASDAQ:ATEC) saw strong trading volume on Monday after an insider bought additional shares in the company. Approximately 4,697,587 shares were traded during mid-day trading, an increase of 56% from the average daily volume of 3,018,966 shares. The stock last traded at $7.4560 and had previously closed at $7.04.

Specifically, Director David Demski bought 60,000 shares of the stock in a transaction on Friday, October 30th. The shares were bought at an average price of $6.81 per share, with a total value of $408,600.00. Following the completion of the acquisition, the director owned 491,635 shares in the company, valued at $3,348,034.35. The trade was a 13.90% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Analyst Upgrades and Downgrades

ATEC has been the subject of a number of recent research reports. TD Cowen cut their price target on Alphatec from $13.00 to $10.00 and set a “buy” rating for the company in a research note on Friday. Canaccord Genuity Group lowered their price objective on shares of Alphatec from $19.00 to $16.00 and set a “buy” rating on the stock in a research note on Friday, October 30th. JPMorgan Chase & Co. dropped their price objective on shares of Alphatec from $16.00 to $15.00 and set an “overweight” rating on the stock in a report on Friday, October 30th. Stephens began coverage on shares of Alphatec in a research report on Thursday, July 23rd. They set an “overweight” rating and a $15.00 target price for the company. Finally, BMO Capital Markets lowered shares of Alphatec from an “outperform” rating to a “market perform” rating and set a $8.00 target price for the company. in a research report on Friday, October 30th. Eleven analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $15.63.

Alphatec Trading Up 2.2%

The company has a market cap of $1.16 billion, a P/E ratio of -13.58 and a beta of 0.88. The business’s 50 day simple moving average is $10.06 and its 200 day simple moving average is $10.53.

Alphatec (NASDAQ:ATEC) last issued its quarterly earnings results on Thursday, October 29th. The medical technology company reported $0.09 earnings per share for the quarter, missing the consensus estimate of $0.10 by ($0.01). The firm had revenue of $221.17 million for the quarter, compared to analysts’ expectations of $225.16 million. Alphatec had a negative net margin of 10.35% and a negative return on equity of 6,752.24%. Alphatec’s revenue for the quarter was up 12.6% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.03 EPS. Sell-side analysts anticipate that Alphatec Holdings, Inc. will post -0.45 EPS for the current year.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the company. Bank of America Corp DE raised its stake in Alphatec by 26.9% during the 1st quarter. Bank of America Corp DE now owns 2,560,971 shares of the medical technology company’s stock valued at $27,863,000 after purchasing an additional 543,059 shares during the period. Emerald Advisers LLC lifted its holdings in Alphatec by 10.4% in the 1st quarter. Emerald Advisers LLC now owns 1,807,307 shares of the medical technology company’s stock worth $19,664,000 after purchasing an additional 169,578 shares in the last quarter. Granite Investment Partners LLC boosted its stake in Alphatec by 4.7% in the 1st quarter. Granite Investment Partners LLC now owns 1,195,156 shares of the medical technology company’s stock worth $13,003,000 after purchasing an additional 54,043 shares during the period. Emerald Mutual Fund Advisers Trust boosted its stake in Alphatec by 27.1% in the 1st quarter. Emerald Mutual Fund Advisers Trust now owns 1,156,826 shares of the medical technology company’s stock worth $12,586,000 after purchasing an additional 246,773 shares during the period. Finally, Renaissance Technologies LLC boosted its stake in Alphatec by 21.3% in the 1st quarter. Renaissance Technologies LLC now owns 1,055,100 shares of the medical technology company’s stock worth $11,479,000 after purchasing an additional 184,969 shares during the period. Hedge funds and other institutional investors own 66.35% of the company’s stock.

About Alphatec

Alphatec Holdings, Inc is a medical technology company focused on the design, development and commercialization of products and procedural solutions for spine surgery. The company aims to improve the treatment of spinal disorders through technologies that support spinal fusion, deformity correction, reconstruction and minimally invasive procedures.

Its portfolio includes spinal implants, surgical instruments, navigation and imaging technologies, and intraoperative monitoring solutions.