Alphatec (NASDAQ:ATEC) Reaches New 52-Week High – What’s Next?

Alphatec Holdings, Inc. (NASDAQ:ATEC) hit a new 52-week high during mid-day trading on Friday . The stock traded as high as $20.17 and last traded at $19.8420, with a volume of 1650597 shares changing hands. The stock had previously closed at $19.51.

Analyst Ratings Changes

A number of analysts have recently issued reports on ATEC shares. Wells Fargo & Company lifted their price target on Alphatec from $14.00 to $16.00 and gave the stock an “overweight” rating in a research note on Thursday, October 16th. JPMorgan Chase & Co. started coverage on shares of Alphatec in a research note on Friday, October 24th. They set an “overweight” rating and a $19.00 target price on the stock. Barclays upped their target price on shares of Alphatec from $22.00 to $23.00 and gave the stock an “overweight” rating in a report on Monday. Canaccord Genuity Group raised their price target on shares of Alphatec from $20.00 to $25.00 and gave the stock a “buy” rating in a research note on Friday, October 31st. Finally, Wall Street Zen raised shares of Alphatec from a “hold” rating to a “buy” rating in a research note on Saturday, October 18th. Nine equities research analysts have rated the stock with a Buy rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $22.11.

Alphatec Trading Up 1.5%

The firm has a market cap of $2.94 billion, a price-to-earnings ratio of -17.52 and a beta of 1.17. The company has a debt-to-equity ratio of 23.22, a quick ratio of 1.77 and a current ratio of 2.88. The company has a 50 day moving average price of $15.55 and a 200 day moving average price of $13.50.

Alphatec (NASDAQ:ATEC) last announced its quarterly earnings results on Thursday, October 30th. The medical technology company reported $0.03 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.06) by $0.09. The company had revenue of $196.50 million for the quarter, compared to analyst estimates of $182.78 million. Alphatec’s revenue was up 30.4% on a year-over-year basis. During the same quarter in the prior year, the business earned ($0.28) earnings per share. Alphatec has set its FY 2025 guidance at EPS. On average, research analysts expect that Alphatec Holdings, Inc. will post -1.08 earnings per share for the current year.

Insiders Place Their Bets

In related news, CEO Patrick Miles sold 100,000 shares of the stock in a transaction dated Monday, November 3rd. The stock was sold at an average price of $18.96, for a total transaction of $1,896,000.00. Following the transaction, the chief executive officer owned 5,364,078 shares of the company’s stock, valued at approximately $101,702,918.88. This represents a 1.83% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Jeffrey P. Rydin sold 200,000 shares of Alphatec stock in a transaction dated Monday, November 3rd. The shares were sold at an average price of $19.32, for a total value of $3,864,000.00. Following the completion of the transaction, the director directly owned 385,441 shares of the company’s stock, valued at approximately $7,446,720.12. This represents a 34.16% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders sold 1,088,125 shares of company stock valued at $18,364,027. Insiders own 22.80% of the company’s stock.

Institutional Investors Weigh In On Alphatec

Several large investors have recently modified their holdings of the company. Vanguard Group Inc. increased its holdings in shares of Alphatec by 2.4% in the 3rd quarter. Vanguard Group Inc. now owns 6,815,058 shares of the medical technology company’s stock valued at $99,091,000 after acquiring an additional 158,295 shares during the period. Fifth Third Bancorp acquired a new position in Alphatec in the third quarter valued at $314,000. Versor Investments LP purchased a new stake in shares of Alphatec in the third quarter valued at about $411,000. Navellier & Associates Inc. acquired a new stake in shares of Alphatec during the third quarter worth about $430,000. Finally, State of Wyoming grew its holdings in shares of Alphatec by 47.1% during the third quarter. State of Wyoming now owns 16,435 shares of the medical technology company’s stock worth $239,000 after buying an additional 5,260 shares during the last quarter. 66.35% of the stock is owned by institutional investors and hedge funds.

Alphatec Company Profile

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.