Alphatec (NASDAQ:ATEC) Reaches New 12-Month High - Should You Buy?

Key Points

• Alphatec Holdings, Inc. (NASDAQ: ATEC) reached a new 52-week high of $15.46 during trading, closing at $14.90 with a volume of over 4 million shares.
• Analysts have set bullish price targets for Alphatec, with Barclays maintaining an "overweight" rating and increasing its target price to $22.00, while Lake Street Capital set a target of $18.00.
• The company reported a significant 27.5% increase in revenue year-over-year for the last quarter, totaling $185.54 million, surpassing analyst expectations.

Alphatec Holdings, Inc. (NASDAQ:ATEC - Get Free Report)'s stock price hit a new 52-week high during mid-day trading on Friday . The company traded as high as $15.46 and last traded at $14.90, with a volume of 4026670 shares traded. The stock had previously closed at $15.20.

Analysts Set New Price Targets

Several research firms have weighed in on ATEC. Needham & Company LLC restated a "buy" rating and set a $16.00 target price on shares of Alphatec in a research note on Friday, May 2nd. Piper Sandler reissued an "overweight" rating and issued a $15.00 price objective (up from $13.00) on shares of Alphatec in a research report on Friday, May 2nd. HC Wainwright restated a "buy" rating and issued a $20.00 target price on shares of Alphatec in a research note on Monday, April 14th. Lake Street Capital raised shares of Alphatec to a "buy" rating and set a $18.00 target price on the stock in a report on Monday, June 16th. Finally, Wall Street Zen upgraded shares of Alphatec from a "hold" rating to a "buy" rating in a research report on Saturday. Seven research analysts have rated the stock with a buy rating, According to MarketBeat, the stock has an average rating of "Buy" and an average target price of $18.50.

Alphatec Trading Up 2.7%

The firm has a market capitalization of $2.33 billion, a PE ratio of -13.92 and a beta of 1.05. The company has a debt-to-equity ratio of 23.22, a current ratio of 2.88 and a quick ratio of 1.77. The company's fifty day simple moving average is $11.69 and its 200-day simple moving average is $11.31.

Alphatec (NASDAQ:ATEC - Get Free Report) last released its quarterly earnings results on Thursday, July 31st. The medical technology company reported $0.02 earnings per share for the quarter, topping analysts' consensus estimates of ($0.06) by $0.08. Alphatec had a negative net margin of 24.33% and a negative return on equity of 1,657.19%. The business had revenue of $185.54 million during the quarter, compared to the consensus estimate of $178.85 million. During the same quarter last year, the company earned ($0.29) earnings per share. The business's quarterly revenue was up 27.5% compared to the same quarter last year. As a group, sell-side analysts expect that Alphatec Holdings, Inc. will post -1.08 earnings per share for the current fiscal year.

Insider Buying and Selling at Alphatec

In related news, EVP Craig E. Hunsaker sold 186,122 shares of the business's stock in a transaction that occurred on Wednesday, June 4th. The stock was sold at an average price of $12.34, for a total value of $2,296,745.48. Following the completion of the sale, the executive vice president directly owned 1,463,896 shares in the company, valued at approximately $18,064,476.64. The trade was a 11.28% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, COO Scott Lish sold 55,375 shares of the business's stock in a transaction that occurred on Monday, May 19th. The stock was sold at an average price of $13.00, for a total value of $719,875.00. Following the completion of the sale, the chief operating officer owned 771,645 shares of the company's stock, valued at approximately $10,031,385. This trade represents a 6.70% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 449,997 shares of company stock valued at $5,846,616 in the last 90 days. 22.80% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the business. GAMMA Investing LLC grew its holdings in shares of Alphatec by 38,433.3% during the first quarter. GAMMA Investing LLC now owns 2,312 shares of the medical technology company's stock worth $228,000 after purchasing an additional 2,306 shares during the last quarter. Comerica Bank boosted its holdings in Alphatec by 66.8% in the fourth quarter. Comerica Bank now owns 3,116 shares of the medical technology company's stock valued at $29,000 after acquiring an additional 1,248 shares during the last quarter. Larson Financial Group LLC bought a new position in Alphatec in the first quarter valued at about $54,000. Quarry LP boosted its holdings in Alphatec by 79.2% in the fourth quarter. Quarry LP now owns 5,374 shares of the medical technology company's stock valued at $49,000 after acquiring an additional 2,375 shares during the last quarter. Finally, Nisa Investment Advisors LLC boosted its holdings in Alphatec by 22.4% in the second quarter. Nisa Investment Advisors LLC now owns 5,714 shares of the medical technology company's stock valued at $63,000 after acquiring an additional 1,045 shares during the last quarter. 66.35% of the stock is currently owned by institutional investors and hedge funds.

About Alphatec

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.