Alphatec (NASDAQ:ATEC) Shares Gap Up to $15.60


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Alphatec Holdings, Inc. (NASDAQ:ATEC) shares gapped up prior to trading on Thursday . The stock had previously closed at $15.60, but opened at $16.11. Alphatec shares last traded at $16.23, with a volume of 3,483 shares traded.

ATEC has been the topic of several recent research reports. Piper Sandler increased their price target on shares of Alphatec from $17.00 to $19.00 and gave the stock an “overweight” rating in a research report on Friday, March 5th. Zacks Investment Research upgraded shares of Alphatec from a “sell” rating to a “hold” rating in a research report on Tuesday, March 9th. Canaccord Genuity reiterated a “buy” rating and issued a $16.00 price target on shares of Alphatec in a research report on Wednesday, January 13th. HC Wainwright raised their price objective on shares of Alphatec from $16.00 to $19.00 and gave the company a “buy” rating in a research report on Thursday, March 11th. Finally, Lake Street Capital raised their price objective on shares of Alphatec from $15.00 to $20.00 in a research report on Friday, December 18th. One equities research analyst has rated the stock with a hold rating and seven have given a buy rating to the company. The company has an average rating of “Buy” and an average target price of $15.50.

The company has a market capitalization of $1.57 billion, a PE ratio of -15.12 and a beta of 1.53. The company’s 50 day moving average is $16.49 and its two-hundred day moving average is $12.83. The company has a quick ratio of 0.92, a current ratio of 1.80 and a debt-to-equity ratio of 8.17.

Alphatec (NASDAQ:ATEC) last posted its earnings results on Thursday, March 4th. The medical technology company reported ($0.35) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.23) by ($0.12). The company had revenue of $43.95 million for the quarter, compared to analysts’ expectations of $43.87 million. Alphatec had a negative net margin of 51.95% and a negative return on equity of 266.45%. Analysts forecast that Alphatec Holdings, Inc. will post -1.05 EPS for the current year.

In other Alphatec news, CFO Jeffrey G. Black sold 25,000 shares of Alphatec stock in a transaction on Tuesday, February 16th. The shares were sold at an average price of $16.28, for a total value of $407,000.00. Following the completion of the transaction, the chief financial officer now directly owns 627,770 shares of the company’s stock, valued at approximately $10,220,095.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, major shareholder Jennifer N. Pritzker acquired 3,000 shares of the company’s stock in a transaction on Wednesday, March 10th. The stock was acquired at an average cost of $16.38 per share, with a total value of $49,140.00. Following the completion of the purchase, the insider now directly owns 30,200 shares in the company, valued at $494,676. The disclosure for this purchase can be found here. Insiders sold a total of 58,387 shares of company stock valued at $953,404 over the last three months. Corporate insiders own 28.18% of the company’s stock.

Several large investors have recently modified their holdings of ATEC. State Street Corp grew its stake in shares of Alphatec by 8.8% in the 3rd quarter. State Street Corp now owns 762,716 shares of the medical technology company’s stock worth $5,064,000 after buying an additional 61,793 shares in the last quarter. Morgan Stanley boosted its stake in shares of Alphatec by 2,661.1% during the 3rd quarter. Morgan Stanley now owns 386,944 shares of the medical technology company’s stock worth $2,570,000 after purchasing an additional 372,930 shares during the period. Cubist Systematic Strategies LLC purchased a new position in shares of Alphatec during the 3rd quarter worth about $152,000. Schonfeld Strategic Advisors LLC boosted its stake in shares of Alphatec by 29.3% during the 3rd quarter. Schonfeld Strategic Advisors LLC now owns 96,500 shares of the medical technology company’s stock worth $641,000 after purchasing an additional 21,860 shares during the period. Finally, California State Teachers Retirement System boosted its stake in shares of Alphatec by 5.1% during the 3rd quarter. California State Teachers Retirement System now owns 67,637 shares of the medical technology company’s stock worth $449,000 after purchasing an additional 3,274 shares during the period. 31.76% of the stock is owned by institutional investors and hedge funds.

About Alphatec (NASDAQ:ATEC)

Alphatec Holdings, Inc, a medical technology company, designs, develops, and advances technologies for the surgical treatment of spinal disorders. The company offers SafeOp Neural InformatiX System, an Alpha InformatiX product platform designed to reduce the risk of intraoperative nerve injury; squadron lateral retractor designed to maximize patient outcomes; Sigma transforaminal lumbar interbody fusion pedicle-based access system that provides direct visualization of anatomical landmarks; Sigma PTP Access and Patient Positioning System; Invictus Spinal Fixation System, a thoracolumbar fixation system to treat a range of pathologies; and Invictus MIS SingleStep System designed to improve surgical efficiency without compromising accuracy.

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