Alphatec (NASDAQ:ATEC) Trading Up 5.9% – What’s Next?

Shares of Alphatec Holdings, Inc. (NASDAQ:ATEC) were up 5.9% during mid-day trading on Wednesday . The company traded as high as $12.01 and last traded at $12.13. Approximately 911,271 shares changed hands during trading, a decline of 49% from the average daily volume of 1,797,184 shares. The stock had previously closed at $11.45.

Analyst Ratings Changes

Several analysts have recently weighed in on ATEC shares. Barclays upped their price objective on Alphatec from $20.00 to $21.00 and gave the company an “overweight” rating in a report on Wednesday, January 22nd. Needham & Company LLC upped their price target on Alphatec from $13.00 to $16.00 and gave the company a “buy” rating in a research report on Monday, January 13th. Finally, HC Wainwright reaffirmed a “buy” rating and issued a $20.00 target price on shares of Alphatec in a research report on Tuesday, January 14th. One research analyst has rated the stock with a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $17.56.

Alphatec Stock Performance

The firm has a 50 day moving average of $10.08 and a two-hundred day moving average of $8.12. The stock has a market cap of $1.67 billion, a P/E ratio of -9.21 and a beta of 1.41. The company has a debt-to-equity ratio of 30.21, a quick ratio of 1.15 and a current ratio of 2.32.

Insiders Place Their Bets

In other news, CEO Patrick Miles sold 6,687 shares of the stock in a transaction that occurred on Tuesday, January 21st. The stock was sold at an average price of $12.00, for a total value of $80,244.00. Following the completion of the transaction, the chief executive officer now directly owns 5,501,715 shares of the company’s stock, valued at approximately $66,020,580. This represents a 0.12 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP David Sponsel sold 58,283 shares of the stock in a transaction that occurred on Monday, January 13th. The stock was sold at an average price of $10.71, for a total value of $624,210.93. Following the completion of the transaction, the executive vice president now directly owns 502,311 shares of the company’s stock, valued at approximately $5,379,750.81. The trade was a 10.40 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 65,208 shares of company stock worth $706,835. 22.80% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Alphatec

Hedge funds have recently modified their holdings of the stock. R Squared Ltd acquired a new stake in shares of Alphatec in the 4th quarter valued at $29,000. Nisa Investment Advisors LLC increased its stake in shares of Alphatec by 973.3% in the 4th quarter. Nisa Investment Advisors LLC now owns 4,669 shares of the medical technology company’s stock valued at $43,000 after buying an additional 4,234 shares during the period. Newton One Investments LLC acquired a new stake in shares of Alphatec in the 4th quarter valued at $50,000. XTX Topco Ltd bought a new position in shares of Alphatec in the 3rd quarter worth $69,000. Finally, Net Worth Advisory Group bought a new position in shares of Alphatec in the 3rd quarter worth $76,000. 66.35% of the stock is owned by institutional investors and hedge funds.

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.