Alphatec (NASDAQ:ATEC) Stock Price Up 5.1% – Time to Buy?

Alphatec Holdings, Inc. (NASDAQ:ATEC) rose 5.1% during trading on Wednesday. The stock traded as high as $11.35 and last traded at $11.4260. Approximately 431,688 shares were traded during mid-day trading, a decline of 85% from the average session volume of 2,871,678 shares. The stock had previously closed at $10.87.

Analysts Set New Price Targets

A number of analysts recently commented on the stock. Stifel Nicolaus decreased their price objective 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. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Alphatec in a report on Monday, August 3rd. UBS Group lifted their price target on shares of Alphatec from $15.00 to $16.00 and gave the company a “buy” rating in a research report on Wednesday, August 5th. TD Cowen boosted their price target on Alphatec from $11.00 to $13.00 and gave the stock a “buy” rating in a research note on Wednesday, August 5th. Finally, Stephens began coverage on Alphatec in a report on Thursday, July 23rd. They issued an “overweight” rating and a $15.00 price target on the stock. Thirteen research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $17.40.

Alphatec Price Performance

The firm has a market capitalization of $1.76 billion, a PE ratio of -16.01 and a beta of 0.78. The company has a 50-day moving average price of $10.11 and a 200-day moving average price of $10.78.

Alphatec (NASDAQ:ATEC) last posted its quarterly earnings data on Tuesday, August 4th. The medical technology company reported $0.07 EPS for the quarter, hitting analysts’ consensus estimates of $0.07. The company had revenue of $213.51 million for the quarter, compared to analysts’ expectations of $211.26 million. During the same quarter in the prior year, the business posted $0.02 EPS. The company’s revenue for the quarter was up 15.1% compared to the same quarter last year. On average, research analysts predict that Alphatec Holdings, Inc. will post -0.45 earnings per share for the current fiscal year.

Insider Activity at Alphatec

In other Alphatec news, CEO Patrick Miles purchased 115,000 shares of the business’s stock in a transaction on Thursday, September 10th. The stock was bought at an average cost of $8.81 per share, for a total transaction of $1,013,150.00. Following the acquisition, the chief executive officer owned 5,893,551 shares of the company’s stock, valued at approximately $51,922,184.31. The trade was a 1.99% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at this link. Also, General Counsel Tyson Marshall sold 8,168 shares of the company’s stock in a transaction on Wednesday, August 5th. The shares were sold at an average price of $9.65, for a total value of $78,821.20. Following the completion of the transaction, the general counsel owned 630,398 shares of the company’s stock, valued at $6,083,340.70. The trade was a 1.28% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 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. Corporate insiders own 13.48% of the company’s stock.

Institutional Trading of Alphatec

A number of hedge funds have recently added to or reduced their stakes in ATEC. Summit Securities Group LLC acquired a new stake in shares of Alphatec in the first quarter worth approximately $29,000. Sterling Capital Management LLC raised its stake in Alphatec by 841.5% during the third quarter. Sterling Capital Management LLC now owns 4,105 shares of the medical technology company’s stock worth $42,000 after purchasing an additional 3,669 shares during the period. Integrated Wealth Concepts LLC acquired a new position in shares of Alphatec in the 2nd quarter valued at $52,000. Allworth Financial LP boosted its holdings in shares of Alphatec by 82.6% in the 2nd quarter. Allworth Financial LP now owns 6,666 shares of the medical technology company’s stock valued at $58,000 after purchasing an additional 3,015 shares during the last quarter. Finally, Atlas Brown Inc. purchased a new stake in shares of Alphatec during the 2nd quarter valued at $111,000. 66.35% of the stock is owned by institutional investors and hedge funds.

About Alphatec

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.