Alphatec (NASDAQ:ATEC) Stock Price Up 8.9% – Should You Buy?

Alphatec Holdings, Inc. (NASDAQ:ATEC) shares rose 8.9% on Thursday . The stock traded as high as $17.50 and last traded at $17.3650. Approximately 3,348,558 shares were traded during trading, a decline of 23% from the average daily volume of 4,367,235 shares. The stock had previously closed at $15.95.

Analysts Set New Price Targets

ATEC has been the subject of several recent research reports. Needham & Company LLC reiterated a “buy” rating and set a $22.00 price target on shares of Alphatec in a research report on Monday. Piper Sandler reaffirmed an “overweight” rating and set a $25.00 target price (up from $20.00) on shares of Alphatec in a report on Friday, October 31st. Stifel Nicolaus initiated coverage on shares of Alphatec in a report on Tuesday, October 28th. They set a “buy” rating and a $20.00 price target on the stock. JPMorgan Chase & Co. assumed coverage on shares of Alphatec in a report on Friday, October 24th. They issued an “overweight” rating and a $19.00 price objective for the company. Finally, Lake Street Capital set a $25.00 price objective on shares of Alphatec and gave the stock a “buy” rating in a research report on Friday, October 31st. Nine research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, Alphatec has an average rating of “Moderate Buy” and an average target price of $22.82.

Alphatec Stock Up 9.5%

The company has a market capitalization of $2.59 billion, a PE ratio of -16.79 and a beta of 1.01. The company has a current ratio of 1.99, a quick ratio of 1.24 and a debt-to-equity ratio of 43.02. The business has a fifty day moving average of $20.57 and a 200 day moving average of $16.50.

Alphatec (NASDAQ:ATEC) last posted its quarterly earnings data on Thursday, October 30th. The medical technology company reported $0.03 EPS for the quarter, beating the consensus estimate of ($0.06) by $0.09. The business had revenue of $196.50 million during the quarter, compared to analysts’ expectations of $182.78 million. The company’s revenue for the quarter was up 30.4% compared to the same quarter last year. During the same period in the previous year, the business posted ($0.28) EPS. Equities research analysts anticipate that Alphatec Holdings, Inc. will post -1.08 EPS for the current year.

Insiders Place Their Bets

In related news, COO Scott Lish sold 19,900 shares of Alphatec stock in a transaction on Tuesday, December 16th. The stock was sold at an average price of $19.64, for a total value of $390,836.00. Following the completion of the transaction, the chief operating officer directly owned 641,432 shares in the company, valued at approximately $12,597,724.48. This trade represents a 3.01% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Patrick Miles sold 100,000 shares of the company’s stock in a transaction dated Monday, January 5th. The stock was sold at an average price of $21.01, for a total value of $2,101,000.00. Following the sale, the chief executive officer owned 5,135,398 shares in the company, valued at approximately $107,894,711.98. This trade represents a 1.91% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders sold 3,403,342 shares of company stock valued at $69,816,381. 20.90% of the stock is owned by company insiders.

Institutional Investors Weigh In On Alphatec

A number of hedge funds and other institutional investors have recently modified their holdings of ATEC. Granite Investment Partners LLC increased its holdings in Alphatec by 320.6% in the second quarter. Granite Investment Partners LLC now owns 1,720,944 shares of the medical technology company’s stock valued at $19,102,000 after buying an additional 1,311,748 shares during the last quarter. Tudor Investment Corp ET AL increased its holdings in shares of Alphatec by 608.4% in the 3rd quarter. Tudor Investment Corp ET AL now owns 900,491 shares of the medical technology company’s stock valued at $13,093,000 after acquiring an additional 773,367 shares during the last quarter. Assenagon Asset Management S.A. raised its position in shares of Alphatec by 7,083.2% during the 3rd quarter. Assenagon Asset Management S.A. now owns 750,429 shares of the medical technology company’s stock worth $10,911,000 after acquiring an additional 739,982 shares in the last quarter. Two Sigma Investments LP lifted its stake in Alphatec by 59.0% during the third quarter. Two Sigma Investments LP now owns 1,794,324 shares of the medical technology company’s stock worth $26,089,000 after purchasing an additional 665,634 shares during the last quarter. Finally, Bank of Montreal Can increased its stake in Alphatec by 545.7% in the second quarter. Bank of Montreal Can now owns 743,041 shares of the medical technology company’s stock valued at $8,248,000 after purchasing an additional 627,973 shares during the last quarter. 66.35% of the stock is currently owned by institutional investors and hedge funds.

About Alphatec

Alphatec Holdings, Inc (NASDAQ: ATEC) is a medical technology company focused on the design, development and commercialization of products for the surgical correction of degenerative spinal conditions. The company’s portfolio centers on interbody implants, biologics, fixation devices and surgical planning tools intended to improve patient outcomes in spinal fusion procedures. Alphatec’s flagship offerings include customizable interbody cages, bone graft materials and specialized instrumentation designed for minimally invasive and open spinal surgeries.

Founded as Alphatec Spine in 1985 and rebranded as Alphatec Holdings in 2018, the company has grown from a single-product organization into a multi-platform innovator in the spine market.