Alphatec (NASDAQ:ATEC) Sees Unusually-High Trading Volume – Here’s What Happened

Alphatec Holdings, Inc. (NASDAQ:ATEC) shares saw strong trading volume on Monday. 4,697,587 shares were traded during mid-day trading, an increase of 56% from the average daily volume of 3,018,966 shares. The stock last traded at $7.4560 and had previously closed at $7.04.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on the company. Canaccord Genuity Group reduced their price target on Alphatec from $19.00 to $16.00 and set a “buy” rating for the company in a report on Friday. UBS Group lifted their target price on Alphatec from $15.00 to $16.00 and gave the company a “buy” rating in a research report on Wednesday, August 5th. Stephens initiated coverage on Alphatec in a research note on Thursday, July 23rd. They issued an “overweight” rating and a $15.00 price objective for the company. Wells Fargo & Company lowered their price objective on Alphatec from $14.00 to $12.00 and set an “overweight” rating for the company in a research report on Friday. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of Alphatec in a report on Friday. Twelve equities research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $16.13.

Alphatec Stock Performance

The firm has a market capitalization of $1.16 billion, a P/E ratio of -13.54 and a beta of 0.88. The stock has a 50 day moving average of $10.14 and a 200-day moving average of $10.62.

Alphatec (NASDAQ:ATEC) last issued its quarterly earnings data on Thursday, October 29th. The medical technology company reported $0.09 earnings per share (EPS) 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 company had revenue of $221.17 million for the quarter, compared to analysts’ expectations of $225.16 million. During the same period last year, the company posted $0.03 EPS. The business’s revenue for the quarter was up 12.6% on a year-over-year basis. As a group, sell-side analysts expect that Alphatec Holdings, Inc. will post -0.45 EPS for the current year.

Insider Activity

In related news, CEO Patrick Miles purchased 115,000 shares of the company’s stock in a transaction dated Thursday, September 10th. The shares were purchased at an average cost of $8.81 per share, with a total value of $1,013,150.00. Following the transaction, the chief executive officer directly owned 5,893,551 shares in the company, valued at $51,922,184.31. This trade represents a 1.99% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, General Counsel Tyson Marshall sold 8,168 shares of Alphatec stock in a transaction that occurred on Wednesday, August 5th. The stock was sold at an average price of $9.65, for a total transaction of $78,821.20. Following the completion of the sale, the general counsel directly owned 630,398 shares of the company’s stock, valued at approximately $6,083,340.70. This trade represents a 1.28% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 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 owned by company insiders.

Institutional Trading of Alphatec

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Summit Securities Group LLC purchased a new stake in shares of Alphatec in the first quarter worth about $29,000. Sterling Capital Management LLC grew its position 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 valued at $42,000 after buying an additional 3,669 shares during the period. Integrated Wealth Concepts LLC acquired a new stake in Alphatec during the 2nd quarter worth $52,000. Allworth Financial LP raised its position in Alphatec by 82.6% in the second 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 period. Finally, Chicago Partners Investment Group LLC acquired a new stake in shares of Alphatec in the third quarter valued at $112,000. Institutional investors own 66.35% of the company’s stock.

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.