Alphatec Holdings, Inc. (NASDAQ:ATEC – Get Free Report) Director David Demski acquired 60,000 shares of the company’s stock in a transaction that occurred on Friday, October 30th. The shares were acquired at an average price of $6.81 per share, with a total value of $408,600.00. Following the acquisition, the director owned 491,635 shares in the company, valued at $3,348,034.35. This trade represents a 13.90% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.
Alphatec Stock Up 2.2%
Shares of Alphatec stock opened at $7.47 on Wednesday. The stock’s fifty day moving average is $10.06 and its two-hundred day moving average is $10.53. The company has a market capitalization of $1.16 billion, a PE ratio of -13.58 and a beta of 0.88. Alphatec Holdings, Inc. has a 52 week low of $6.81 and a 52 week high of $23.29.
Alphatec (NASDAQ:ATEC – Get Free Report) last released its earnings results on Thursday, October 29th. The medical technology company reported $0.09 earnings per share for the quarter, missing analysts’ consensus estimates of $0.10 by ($0.01). Alphatec had a negative return on equity of 6,752.24% and a negative net margin of 10.35%. The business had revenue of $221.17 million during the quarter, compared to analysts’ expectations of $225.16 million. During the same quarter in the previous year, the business earned $0.03 EPS. The business’s revenue for the quarter was up 12.6% on a year-over-year basis. As a group, research analysts anticipate that Alphatec Holdings, Inc. will post -0.45 earnings per share for the current year.
More Alphatec News
Here are the key news stories impacting Alphatec this week:
- Positive Sentiment: Director David Demski bought 60,000 shares for $408,600, increasing his direct holdings by 13.9% to 491,635 shares. The purchase may indicate confidence, though it was made under a pre-arranged Rule 10b5-1 plan. Insider purchase report
- Neutral Sentiment: Canaccord Genuity cut its price target from $19 to $16 but retained a “buy” rating, leaving substantial implied upside from recent levels while signaling a lower valuation outlook. Canaccord price target report
- Negative Sentiment: BMO Capital Markets downgraded ATEC to “Market Perform.” Wells Fargo also lowered its price target; other recent analyst target reductions add to cautious sentiment. BMO rating report Wells Fargo price target report
- Negative Sentiment: SueWallSt announced an investigation into potential securities claims involving Alphatec. The notice does not establish wrongdoing, but may add uncertainty for investors. Shareholder investigation announcement
- Negative Sentiment: Recent quarterly results missed analyst estimates for both earnings and revenue, despite 12.6% year-over-year revenue growth. Ongoing losses and the stock’s position near its 52-week low remain concerns.
Wall Street Analyst Weigh In
Several research analysts recently commented on ATEC shares. BMO Capital Markets downgraded shares of Alphatec from an “outperform” rating to a “market perform” rating and set a $8.00 price target on the stock. in a research note on Friday, October 30th. Wells Fargo & Company lowered their price objective on shares of Alphatec from $14.00 to $12.00 and set an “overweight” rating for the company in a research report on Friday, October 30th. JPMorgan Chase & Co. lowered their price objective on shares of Alphatec from $16.00 to $15.00 and set an “overweight” rating for the company in a research report on Friday, October 30th. Stifel Nicolaus dropped their target price on shares of Alphatec from $16.00 to $13.00 and set a “buy” rating on the stock in a research note on Wednesday, July 8th. Finally, Needham & Company LLC reduced their target price on shares of Alphatec from $14.00 to $12.00 and set a “buy” rating on the stock in a research report on Friday. Twelve investment analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, Alphatec currently has an average rating of “Moderate Buy” and an average target price of $16.13.
View Our Latest Report on Alphatec
Institutional Investors Weigh In On Alphatec
A number of institutional investors and hedge funds have recently bought and sold shares of ATEC. Paradigm Capital Management Inc. NY purchased a new stake in Alphatec in the second quarter worth about $9,413,000. Bank of America Corp DE grew its holdings in Alphatec by 26.9% during the 1st quarter. Bank of America Corp DE now owns 2,560,971 shares of the medical technology company’s stock worth $27,863,000 after acquiring an additional 543,059 shares in the last quarter. FirstWave Capital Management LLC bought a new position in Alphatec during the 2nd quarter worth about $1,244,000. Emerald Advisers LLC grew its holdings in Alphatec by 10.4% during the 1st quarter. Emerald Advisers LLC now owns 1,807,307 shares of the medical technology company’s stock worth $19,664,000 after acquiring an additional 169,578 shares in the last quarter. Finally, Bank of New York Mellon Corp purchased a new position in Alphatec during the 2nd quarter valued at about $3,092,000. 66.35% of the stock is owned by institutional investors.
Alphatec Company Profile
Alphatec Holdings, Inc is a medical technology company focused on the design, development and commercialization of products and procedural solutions for spine surgery. The company aims to improve the treatment of spinal disorders through technologies that support spinal fusion, deformity correction, reconstruction and minimally invasive procedures.
Its portfolio includes spinal implants, surgical instruments, navigation and imaging technologies, and intraoperative monitoring solutions.
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