Alphatec (NASDAQ:ATEC) Hits New 52-Week High – Here’s Why

Alphatec Holdings, Inc. (NASDAQ:ATEC) hit a new 52-week high during mid-day trading on Wednesday . The company traded as high as $12.85 and last traded at $12.72, with a volume of 985887 shares. The stock had previously closed at $12.67.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on ATEC shares. StockNews.com raised Alphatec from a “sell” rating to a “hold” rating in a report on Friday, February 28th. Barclays lifted their price target on Alphatec from $20.00 to $21.00 and gave the stock an “overweight” rating in a report on Wednesday, January 22nd. HC Wainwright reaffirmed a “buy” rating and set a $20.00 price target on shares of Alphatec in a report on Monday, April 14th. Needham & Company LLC reissued a “buy” rating and issued a $16.00 target price on shares of Alphatec in a report on Friday, May 2nd. Finally, Piper Sandler reissued an “overweight” rating and issued a $15.00 target price (up from $13.00) on shares of Alphatec in a report on Friday, May 2nd. Two equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $17.89.

Alphatec Price Performance

The company has a debt-to-equity ratio of 30.21, a quick ratio of 1.15 and a current ratio of 2.32. The company has a 50-day simple moving average of $10.67 and a 200-day simple moving average of $10.30. The company has a market cap of $1.86 billion, a price-to-earnings ratio of -9.95 and a beta of 1.06.

Alphatec (NASDAQ:ATEC) last released its earnings results on Thursday, May 1st. The medical technology company reported ($0.35) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.12) by ($0.23). Alphatec had a negative return on equity of 541.39% and a negative net margin of 31.06%. The business had revenue of $169.18 million for the quarter, compared to analyst estimates of $167.57 million. During the same quarter in the previous year, the firm posted ($0.34) EPS. The business’s revenue for the quarter was up 22.2% on a year-over-year basis. As a group, research analysts predict that Alphatec Holdings, Inc. will post -1.08 earnings per share for the current year.

Insider Buying and Selling

In other news, COO Scott Lish sold 23,183 shares of the business’s stock in a transaction on Thursday, February 27th. The stock was sold at an average price of $12.03, for a total value of $278,891.49. Following the completion of the transaction, the chief operating officer now directly owns 844,494 shares of the company’s stock, valued at $10,159,262.82. The trade was a 2.67% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, EVP David Sponsel sold 33,732 shares of the stock in a transaction on Thursday, March 6th. The shares were sold at an average price of $10.83, for a total value of $365,317.56. Following the sale, the executive vice president now directly owns 668,977 shares in the company, valued at approximately $7,245,020.91. The trade was a 4.80% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 126,945 shares of company stock worth $1,416,352 in the last quarter. Company insiders own 20.90% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the company. PDT Partners LLC acquired a new position in Alphatec in the 1st quarter valued at about $1,136,000. Cubist Systematic Strategies LLC raised its stake in Alphatec by 46.6% in the 1st quarter. Cubist Systematic Strategies LLC now owns 765,854 shares of the medical technology company’s stock valued at $7,766,000 after purchasing an additional 243,296 shares during the last quarter. Royal Bank of Canada lifted its stake in shares of Alphatec by 10.8% during the 1st quarter. Royal Bank of Canada now owns 3,527,939 shares of the medical technology company’s stock worth $35,773,000 after purchasing an additional 342,656 shares during the period. Driehaus Capital Management LLC purchased a new position in shares of Alphatec during the 1st quarter worth $10,398,000. Finally, Trexquant Investment LP purchased a new position in shares of Alphatec during the 1st quarter worth $1,313,000. Institutional investors and hedge funds own 66.35% of the company’s stock.

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.