Alphatec (NASDAQ:ATEC) Sets New 1-Year High - Here's What Happened

Alphatec Holdings, Inc. (NASDAQ:ATEC - Get Free Report)'s stock price reached a new 52-week high during mid-day trading on Wednesday . The stock traded as high as $12.85 and last traded at $12.72, with a volume of 985887 shares. The stock had previously closed at $12.67.

Analysts Set New Price Targets

Several equities analysts recently issued reports on ATEC shares. StockNews.com raised Alphatec from a "sell" rating to a "hold" rating in a report on Friday, February 28th. Barclays raised their price objective on Alphatec from $20.00 to $21.00 and gave the stock an "overweight" rating in a report on Wednesday, January 22nd. Piper Sandler reiterated an "overweight" rating and set a $15.00 target price (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 price target on shares of Alphatec in a report on Monday, April 14th. Finally, Needham & Company LLC reiterated a "buy" rating and issued a $16.00 price target on shares of Alphatec in a report on Friday, May 2nd. Two analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company's stock. According to MarketBeat.com, Alphatec presently has a consensus rating of "Moderate Buy" and an average target price of $17.89.

Alphatec Stock Performance

The stock's 50 day moving average is $10.73 and its two-hundred day moving average is $10.40. The company has a debt-to-equity ratio of 30.21, a current ratio of 2.32 and a quick ratio of 1.15. The firm has a market cap of $1.86 billion, a P/E ratio of -9.95 and a beta of 1.06.

Alphatec (NASDAQ:ATEC - Get Free Report) last announced its quarterly earnings results on Thursday, May 1st. The medical technology company reported ($0.35) earnings per share for the quarter, missing analysts' consensus estimates 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 the consensus estimate of $167.57 million. During the same period in the prior year, the business earned ($0.34) earnings per share. The company's revenue for the quarter was up 22.2% compared to the same quarter last year. As a group, equities analysts predict that Alphatec Holdings, Inc. will post -1.08 EPS for the current year.

Insider Activity at Alphatec

In other Alphatec news, COO Scott Lish sold 12,000 shares of Alphatec stock in a transaction dated Monday, May 5th. The stock was sold at an average price of $12.12, for a total transaction of $145,440.00. Following the completion of the transaction, the chief operating officer now owns 826,251 shares of the company's stock, valued at $10,014,162.12. The trade was a 1.43% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Patrick Miles sold 32,393 shares of the stock in a transaction on Wednesday, February 26th. The shares were sold at an average price of $10.89, for a total value of $352,759.77. Following the completion of the transaction, the chief executive officer now directly owns 5,940,391 shares in the company, valued at approximately $64,690,857.99. This represents a 0.54% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 126,945 shares of company stock valued at $1,416,352 over the last three months. 20.90% of the stock is owned by insiders.

Hedge Funds Weigh In On Alphatec

Hedge funds have recently made changes to their positions in the business. Nuveen LLC purchased a new position in Alphatec in the 1st quarter worth approximately $135,874,000. Royal Bank of Canada increased its position in Alphatec by 171.2% in the fourth quarter. Royal Bank of Canada now owns 3,185,283 shares of the medical technology company's stock worth $29,240,000 after purchasing an additional 2,010,806 shares during the last quarter. American Century Companies Inc. boosted its stake in Alphatec by 36.5% during the fourth quarter. American Century Companies Inc. now owns 4,989,057 shares of the medical technology company's stock worth $45,800,000 after buying an additional 1,334,780 shares during the period. MetLife Investment Management LLC raised its holdings in shares of Alphatec by 1,818.5% in the first quarter. MetLife Investment Management LLC now owns 1,213,943 shares of the medical technology company's stock worth $12,309,000 after buying an additional 1,150,669 shares during the period. Finally, Nuveen Asset Management LLC lifted its holdings in Alphatec by 78.4% during the 4th quarter. Nuveen Asset Management LLC now owns 2,584,996 shares of the medical technology company's stock valued at $23,730,000 after buying an additional 1,136,330 shares in the last quarter. 66.35% of the stock is owned by hedge funds and other institutional investors.

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.