Alphatec (NASDAQ:ATEC) Hits New 52-Week High - Here's Why

Alphatec Holdings, Inc. (NASDAQ:ATEC - Get Free Report)'s stock price reached a new 52-week high during trading on Tuesday . The stock traded as high as $13.07 and last traded at $13.03, with a volume of 1277526 shares. The stock had previously closed at $12.96.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on the company. Needham & Company LLC restated a "buy" rating and issued a $16.00 price objective on shares of Alphatec in a research note on Friday, May 2nd. HC Wainwright restated a "buy" rating and issued a $20.00 price objective on shares of Alphatec in a research note on Monday, April 14th. Piper Sandler restated an "overweight" rating and issued a $15.00 price objective (up from $13.00) on shares of Alphatec in a research note on Friday, May 2nd. Finally, Wall Street Zen upgraded Alphatec from a "sell" rating to a "hold" rating in a research note on Friday, February 28th. Two equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to MarketBeat.com, Alphatec currently has an average rating of "Moderate Buy" and a consensus price target of $17.89.

Alphatec Stock Performance

The company has a market cap of $1.82 billion, a P/E ratio of -9.73 and a beta of 1.06. The firm has a 50 day moving average of $11.06 and a 200-day moving average of $10.54. The company has a quick ratio of 1.15, a current ratio of 2.32 and a debt-to-equity ratio of 30.21.

Alphatec (NASDAQ:ATEC - Get Free Report) last announced its quarterly earnings data on Thursday, May 1st. The medical technology company reported ($0.35) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.12) by ($0.23). Alphatec had a negative return on equity of 541.39% and a negative net margin of 31.06%. The firm had revenue of $169.18 million during the quarter, compared to the consensus estimate of $167.57 million. During the same period last year, the company earned ($0.34) EPS. The firm's revenue for the quarter was up 22.2% compared to the same quarter last year. As a group, sell-side analysts anticipate that Alphatec Holdings, Inc. will post -1.08 EPS for the current fiscal year.

Insider Buying and Selling

In other Alphatec news, CEO Patrick Miles sold 32,393 shares of the stock in a transaction on Wednesday, February 26th. The stock was sold at an average price of $10.89, for a total transaction of $352,759.77. Following the sale, the chief executive officer now owns 5,940,391 shares of the company's stock, valued at approximately $64,690,857.99. This trade represents a 0.54% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP David Sponsel sold 12,946 shares of the stock in a transaction on Monday, February 24th. The shares were sold at an average price of $10.73, for a total value of $138,910.58. Following the sale, the executive vice president now directly owns 722,128 shares in the company, valued at $7,748,433.44. This trade represents a 1.76% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 182,320 shares of company stock valued at $2,136,227 over the last quarter. 22.80% of the stock is owned by corporate insiders.

Institutional Trading of Alphatec

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Congress Asset Management Co. boosted its position in Alphatec by 235.4% during the 4th quarter. Congress Asset Management Co. now owns 434,966 shares of the medical technology company's stock valued at $3,993,000 after acquiring an additional 305,296 shares in the last quarter. Rhumbline Advisers boosted its position in Alphatec by 1.3% during the 4th quarter. Rhumbline Advisers now owns 139,088 shares of the medical technology company's stock valued at $1,277,000 after acquiring an additional 1,746 shares in the last quarter. Northern Trust Corp boosted its position in Alphatec by 12.0% during the 4th quarter. Northern Trust Corp now owns 1,014,743 shares of the medical technology company's stock valued at $9,315,000 after acquiring an additional 108,959 shares in the last quarter. Russell Investments Group Ltd. boosted its position in Alphatec by 20.0% during the 4th quarter. Russell Investments Group Ltd. now owns 199,886 shares of the medical technology company's stock valued at $1,835,000 after acquiring an additional 33,362 shares in the last quarter. Finally, Nisa Investment Advisors LLC lifted its holdings in shares of Alphatec by 973.3% during the 4th quarter. Nisa Investment Advisors LLC now owns 4,669 shares of the medical technology company's stock valued at $43,000 after purchasing an additional 4,234 shares during the last quarter. Institutional investors own 66.35% of the company's stock.

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.