Alphatec (NASDAQ:ATEC) Reaches New 12-Month High - Time to Buy?

Key Points

• Alphatec Holdings, Inc. (NASDAQ: ATEC) hit a new 52-week high of $16.02 during trading, closing at $15.80 with over 2.39 million shares traded.
• Analysts have given Alphatec a consensus rating of "Buy" with several price targets, including $18.00 from Lake Street Capital and $22.00 from Barclays.
• The company reported earnings of $0.02 per share, exceeding expectations, along with a 27.5% year-over-year revenue increase to $185.54 million.

Alphatec Holdings, Inc. (NASDAQ:ATEC - Get Free Report) hit a new 52-week high during trading on Thursday . The stock traded as high as $16.02 and last traded at $15.80, with a volume of 2391483 shares traded. The stock had previously closed at $15.72.

Analyst Ratings Changes

A number of analysts have recently weighed in on the stock. Wall Street Zen raised shares of Alphatec from a "hold" rating to a "buy" rating in a research report on Saturday, August 9th. Lake Street Capital upgraded shares of Alphatec to a "buy" rating and set a $18.00 target price on the stock in a research note on Monday, June 16th. Canaccord Genuity Group reiterated a "buy" rating and set a $20.00 price objective on shares of Alphatec in a research report on Friday, August 1st. Needham & Company LLC reissued a "buy" rating and issued a $16.00 target price on shares of Alphatec in a report on Friday, May 2nd. Finally, Piper Sandler reaffirmed an "overweight" rating and set a $15.00 price objective (up from $13.00) on shares of Alphatec in a research note on Friday, May 2nd. Seven equities research analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock presently has an average rating of "Buy" and an average price target of $18.50.

Alphatec Trading Up 0.8%

The company has a 50 day moving average price of $11.94 and a two-hundred day moving average price of $11.42. 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 firm has a market capitalization of $2.32 billion, a price-to-earnings ratio of -13.89 and a beta of 1.05.

Alphatec (NASDAQ:ATEC - Get Free Report) last posted its quarterly earnings data on Thursday, July 31st. The medical technology company reported $0.02 EPS for the quarter, beating the consensus estimate of ($0.06) by $0.08. Alphatec had a negative return on equity of 1,657.19% and a negative net margin of 24.33%. The firm had revenue of $185.54 million during the quarter, compared to the consensus estimate of $178.85 million. During the same period in the prior year, the company earned ($0.29) EPS. The firm's revenue was up 27.5% compared to the same quarter last year. On average, research analysts forecast that Alphatec Holdings, Inc. will post -1.08 EPS for the current year.

Insider Buying and Selling at Alphatec

In other Alphatec news, EVP Craig E. Hunsaker sold 10,876 shares of the company's stock in a transaction on Wednesday, August 6th. The stock was sold at an average price of $15.33, for a total value of $166,729.08. Following the completion of the sale, the executive vice president directly owned 1,389,142 shares in the company, valued at $21,295,546.86. This represents a 0.78% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, General Counsel Tyson Eliot Marshall sold 18,092 shares of the company's stock in a transaction on Tuesday, August 5th. The shares were sold at an average price of $14.91, for a total value of $269,751.72. Following the completion of the sale, the general counsel owned 438,331 shares of the company's stock, valued at approximately $6,535,515.21. The trade was a 3.96% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 459,299 shares of company stock worth $5,995,448 in the last three months. 20.90% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Alphatec

Hedge funds have recently modified their holdings of the business. Nuveen LLC purchased a new position in Alphatec during the 1st quarter valued at about $135,874,000. American Century Companies Inc. boosted its holdings in Alphatec by 6.0% during the 2nd quarter. American Century Companies Inc. now owns 6,177,161 shares of the medical technology company's stock valued at $68,567,000 after acquiring an additional 347,130 shares during the period. Vanguard Group Inc. boosted its holdings in Alphatec by 0.8% during the 1st 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 during the period. Royal Bank of Canada boosted its holdings in Alphatec by 10.8% during the 1st 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 during the period. Finally, Geode Capital Management LLC raised its position in Alphatec by 7.4% in the 2nd quarter. Geode Capital Management LLC now owns 2,697,541 shares of the medical technology company's stock valued at $29,946,000 after purchasing an additional 185,297 shares in the last quarter. 66.35% of the stock is currently owned by hedge funds and other institutional investors.

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.