Short Interest in Alphatec Holdings, Inc. (NASDAQ:ATEC) Rises By 6.3%

Alphatec Holdings, Inc. (NASDAQ:ATEC) saw a significant growth in short interest in the month of June. As of June 15th, there was short interest totalling 12,450,000 shares, a growth of 6.3% from the May 31st total of 11,710,000 shares. Based on an average daily volume of 1,620,000 shares, the days-to-cover ratio is currently 7.7 days.

Insider Transactions at Alphatec

In related news, General Counsel Tyson Eliot Marshall sold 50,232 shares of the company’s stock in a transaction on Wednesday, June 12th. The stock was sold at an average price of $10.88, for a total transaction of $546,524.16. Following the completion of the sale, the general counsel now owns 245,638 shares in the company, valued at $2,672,541.44. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In related news, General Counsel Tyson Eliot Marshall sold 50,232 shares of the company’s stock in a transaction on Wednesday, June 12th. The stock was sold at an average price of $10.88, for a total transaction of $546,524.16. Following the completion of the sale, the general counsel now owns 245,638 shares in the company, valued at $2,672,541.44. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CFO John Todd Koning sold 37,500 shares of the company’s stock in a transaction on Wednesday, April 24th. The stock was sold at an average price of $12.82, for a total value of $480,750.00. Following the sale, the chief financial officer now owns 393,356 shares of the company’s stock, valued at approximately $5,042,823.92. The disclosure for this sale can be found here. 22.80% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in ATEC. First Light Asset Management LLC grew its stake in shares of Alphatec by 97.0% during the 4th quarter. First Light Asset Management LLC now owns 5,976,851 shares of the medical technology company’s stock worth $90,310,000 after acquiring an additional 2,943,310 shares during the period. Cerity Partners LLC purchased a new stake in Alphatec during the 4th quarter worth about $28,451,000. Artisan Partners Limited Partnership purchased a new stake in Alphatec during the 4th quarter worth about $19,050,000. Goldman Sachs Group Inc. lifted its holdings in Alphatec by 93.9% during the 4th quarter. Goldman Sachs Group Inc. now owns 1,451,499 shares of the medical technology company’s stock worth $21,932,000 after purchasing an additional 702,950 shares in the last quarter. Finally, BNP PARIBAS ASSET MANAGEMENT Holding S.A. lifted its holdings in Alphatec by 48.1% during the 1st quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 2,125,042 shares of the medical technology company’s stock worth $29,305,000 after purchasing an additional 690,022 shares in the last quarter. Institutional investors own 66.35% of the company’s stock.

Alphatec Stock Up 0.8 %

ATEC stock opened at $9.98 on Friday. The company has a debt-to-equity ratio of 13.63, a quick ratio of 1.49 and a current ratio of 2.39. The company has a market capitalization of $1.40 billion, a price-to-earnings ratio of -6.70 and a beta of 1.40. Alphatec has a fifty-two week low of $8.66 and a fifty-two week high of $19.14. The stock has a fifty day moving average of $10.84 and a 200-day moving average of $13.24.

Alphatec (NASDAQ:ATEC) last posted its quarterly earnings results on Tuesday, May 7th. The medical technology company reported ($0.34) earnings per share for the quarter, missing the consensus estimate of ($0.33) by ($0.01). The firm had revenue of $138.48 million for the quarter, compared to the consensus estimate of $134.07 million. Alphatec had a negative return on equity of 1,767.81% and a negative net margin of 37.45%. The firm’s revenue was up 26.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted ($0.40) EPS. As a group, equities research analysts predict that Alphatec will post -1.04 earnings per share for the current year.

Analysts Set New Price Targets

ATEC has been the subject of several recent research reports. Piper Sandler decreased their price target on Alphatec from $19.00 to $17.00 and set an “overweight” rating for the company in a report on Wednesday, May 8th. Canaccord Genuity Group restated a “buy” rating and issued a $25.00 price objective on shares of Alphatec in a research note on Wednesday, March 20th. Finally, Needham & Company LLC restated a “buy” rating and issued a $23.00 price objective on shares of Alphatec in a research note on Wednesday, May 8th. One equities research analyst has rated the stock with a sell rating and eight have assigned a buy rating to the company’s stock. According to MarketBeat, Alphatec presently has a consensus rating of “Moderate Buy” and an average target price of $21.75.

About Alphatec

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.