Alphatec (NASDAQ:ATEC) Hits New 1-Year High - Time to Buy?

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

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on the company. Needham & Company LLC reaffirmed a "buy" rating and issued a $16.00 price target on shares of Alphatec in a report on Friday, May 2nd. Piper Sandler reaffirmed an "overweight" rating and issued a $15.00 price target (up previously from $13.00) on shares of Alphatec in a report on Friday, May 2nd. HC Wainwright reaffirmed a "buy" rating and issued a $20.00 price target on shares of Alphatec in a report on Monday, April 14th. Barclays increased their price target on Alphatec from $20.00 to $21.00 and gave the company an "overweight" rating in a report on Wednesday, January 22nd. Finally, StockNews.com raised Alphatec from a "sell" rating to a "hold" rating in a report on Friday, February 28th. Two investment analysts have rated the stock with a hold rating and eight have given a buy 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 $17.89.

Alphatec Stock Up 0.5%

The company has a market capitalization of $1.90 billion, a PE ratio of -10.18 and a beta of 1.06. The company has a quick ratio of 1.15, a current ratio of 2.32 and a debt-to-equity ratio of 30.21. The firm has a 50-day moving average of $10.80 and a two-hundred day moving average of $10.44.

Alphatec (NASDAQ:ATEC - Get Free Report) last released its quarterly earnings results on Thursday, May 1st. The medical technology company reported ($0.35) 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 for the quarter, compared to analysts' expectations of $167.57 million. During the same quarter in the prior year, the business earned ($0.34) earnings per share. The company's quarterly revenue was up 22.2% on a year-over-year basis. Equities research analysts predict that Alphatec Holdings, Inc. will post -1.08 earnings per share for the current fiscal year.

Insider Transactions at Alphatec

In other news, EVP David Sponsel sold 12,946 shares of the stock in a transaction on Monday, February 24th. The stock was 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 approximately $7,748,433.44. This trade represents a 1.76% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, COO Scott Lish sold 12,000 shares of the stock in a transaction on Monday, May 5th. The shares were sold at an average price of $12.12, for a total value of $145,440.00. Following the completion of the sale, the chief operating officer now owns 826,251 shares in the company, valued at approximately $10,014,162.12. The trade was a 1.43% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 126,945 shares of company stock worth $1,416,352 over the last ninety days. Company insiders own 20.90% of the company's stock.

Institutional Trading of Alphatec

Several hedge funds have recently modified their holdings of the stock. Nuveen LLC acquired a new stake in shares of Alphatec in the first quarter valued at $135,874,000. Vanguard Group Inc. raised its stake in shares of Alphatec by 0.8% in the first quarter. Vanguard Group Inc. now owns 6,014,772 shares of the medical technology company's stock valued at $60,990,000 after acquiring an additional 45,792 shares in the last quarter. American Century Companies Inc. raised its stake in shares of Alphatec by 16.9% in the first quarter. American Century Companies Inc. now owns 5,830,031 shares of the medical technology company's stock valued at $59,117,000 after acquiring an additional 840,974 shares in the last quarter. Royal Bank of Canada raised its stake in shares of Alphatec by 10.8% in the first quarter. Royal Bank of Canada now owns 3,527,939 shares of the medical technology company's stock valued at $35,773,000 after acquiring an additional 342,656 shares in the last quarter. Finally, Nuveen Asset Management LLC raised its stake in shares of Alphatec by 78.4% in the fourth quarter. Nuveen Asset Management LLC now owns 2,584,996 shares of the medical technology company's stock valued at $23,730,000 after acquiring an additional 1,136,330 shares in the last quarter. 66.35% of the stock is currently 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.

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