Alphatec (NASDAQ:ATEC) Trading 6.8% Higher – Still a Buy?

Alphatec Holdings, Inc. (NASDAQ:ATEC)’s stock price traded up 6.8% on Tuesday . The stock 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.

Analysts Set New Price Targets

A number of brokerages have issued reports on ATEC. Stephens began coverage on Alphatec in a report on Thursday, July 23rd. They set an “overweight” rating and a $15.00 target price on the stock. Needham & Company LLC cut their price target on shares of Alphatec from $25.00 to $14.00 and set a “buy” rating on the stock in a research report on Wednesday, May 6th. Wells Fargo & Company decreased their price objective on shares of Alphatec from $28.00 to $14.00 and set an “overweight” rating for the company in a report on Thursday, May 7th. TD Cowen lowered their target price on shares of Alphatec from $20.00 to $11.00 and set a “buy” rating for the company in a research note on Wednesday, May 6th. Finally, Barclays reduced their price target on shares of Alphatec from $27.00 to $24.00 and set an “overweight” rating on the stock in a research report on Thursday, May 7th. One research analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $17.13.

Alphatec Stock Up 7.4%

The firm has a market capitalization of $1.43 billion, a P/E ratio of -11.36 and a beta of 0.85. The company has a debt-to-equity ratio of 40.35, a quick ratio of 1.12 and a current ratio of 1.90. The firm’s 50-day moving average is $8.51 and its 200 day moving average is $11.24.

Insider Activity at Alphatec

In other news, Director Karen K. Mcginnis sold 6,050 shares of the business’s stock in a transaction dated Thursday, June 11th. The stock was sold at an average price of $8.01, for a total value of $48,460.50. Following the sale, the director directly owned 94,671 shares in the company, valued at $758,314.71. The trade was a 6.01% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at 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 currently owned by company insiders.

Institutional Investors Weigh In On Alphatec

Hedge funds and other institutional investors have recently bought and sold shares of the company. Handelsbanken Fonder AB bought a new stake in Alphatec in the 2nd quarter valued at approximately $427,000. Redhawk Wealth Advisors Inc. raised its holdings in shares of Alphatec by 87.8% in the second quarter. Redhawk Wealth Advisors Inc. now owns 19,412 shares of the medical technology company’s stock valued at $168,000 after purchasing an additional 9,077 shares during the last quarter. Atlas Brown Inc. acquired a new stake in shares of Alphatec in the second quarter valued at approximately $111,000. Valeo Financial Advisors LLC lifted its position in shares of Alphatec by 7.2% in the second quarter. Valeo Financial Advisors LLC now owns 44,363 shares of the medical technology company’s stock worth $384,000 after purchasing an additional 2,967 shares in the last quarter. Finally, Western Wealth Management LLC boosted its holdings in Alphatec by 20.9% during the first quarter. Western Wealth Management LLC now owns 103,909 shares of the medical technology company’s stock worth $1,131,000 after purchasing an additional 17,928 shares during the last quarter. Institutional investors and hedge funds 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.