Alphatec (NASDAQ:ATEC) Stock Price Up 6.8% – Here’s What Happened

Alphatec Holdings, Inc. (NASDAQ:ATEC)’s share price rose 6.8% during trading on Tuesday . The company traded as high as $9.42 and last traded at $9.2580. Approximately 235,857 shares changed hands during mid-day trading, a decline of 92% from the average session volume of 3,142,359 shares. The stock had previously closed at $8.67.

Wall Street Analyst Weigh In

A number of analysts have commented on the company. Barclays reduced their price target on Alphatec from $27.00 to $24.00 and set an “overweight” rating for the company in a research report on Thursday, May 7th. Piper Sandler reissued an “overweight” rating and issued a $14.00 target price (down from $25.00) on shares of Alphatec in a report on Wednesday, May 6th. Needham & Company LLC decreased their target price on shares of Alphatec from $25.00 to $14.00 and set a “buy” rating on the stock in a research note on Wednesday, May 6th. Stifel Nicolaus lowered their price target on shares of Alphatec from $16.00 to $13.00 and set a “buy” rating on the stock in a report on Wednesday, July 8th. Finally, BMO Capital Markets initiated coverage on shares of Alphatec in a research report on Wednesday, July 8th. They issued an “outperform” rating and a $11.00 price target for the company. One research analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $17.13.

Alphatec Stock Performance

The company has a quick ratio of 1.12, a current ratio of 1.90 and a debt-to-equity ratio of 40.35. The business has a 50 day moving average price of $8.56 and a two-hundred day moving average price of $11.06. The stock has a market cap of $1.48 billion, a P/E ratio of -11.77 and a beta of 0.85.

Insiders Place Their Bets

In other Alphatec news, Director Karen K. Mcginnis sold 6,050 shares of the company’s stock in a transaction that occurred on Thursday, June 11th. The stock was sold at an average price of $8.01, for a total value of $48,460.50. Following the completion of the transaction, the director directly owned 94,671 shares in the company, valued at $758,314.71. This represents a 6.01% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. 13.48% of the stock is owned by insiders.

Hedge Funds Weigh In On Alphatec

A number of hedge funds and other institutional investors have recently modified their holdings of ATEC. Northwestern Mutual Wealth Management Co. grew its stake in Alphatec by 157.1% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 2,571 shares of the medical technology company’s stock valued at $54,000 after acquiring an additional 1,571 shares in the last quarter. Summit Securities Group LLC purchased a new stake in Alphatec in the 1st quarter worth $29,000. Osterweis Capital Management Inc. purchased a new stake in Alphatec in the 2nd quarter worth $37,000. Focus Partners Wealth bought a new position in shares of Alphatec during the 3rd quarter valued at about $138,000. Finally, Merit Financial Group LLC purchased a new position in shares of Alphatec during the fourth quarter valued at about $207,000. Institutional investors own 66.35% of the company’s stock.

Alphatec Company Profile

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.