Alphatec (NASDAQ:ATEC) Shares Up 10.6% - Still a Buy?

Alphatec Holdings, Inc. (NASDAQ:ATEC - Get Free Report) rose 10.6% during trading on Friday . The stock traded as high as $12.24 and last traded at $12.23. Approximately 2,930,244 shares were traded during mid-day trading, an increase of 42% from the average daily volume of 2,062,284 shares. The stock had previously closed at $11.06.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on ATEC. StockNews.com raised shares of Alphatec from a "sell" rating to a "hold" rating in a research note on Friday, February 28th. Barclays raised their target price on Alphatec from $20.00 to $21.00 and gave the stock an "overweight" rating in a research note on Wednesday, January 22nd. Piper Sandler restated an "overweight" rating and issued a $15.00 price target (up from $13.00) on shares of Alphatec in a research note on Friday, May 2nd. Needham & Company LLC reaffirmed a "buy" rating and issued a $16.00 target price on shares of Alphatec in a research note on Friday, May 2nd. Finally, 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. Two research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company's stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $17.89.

Alphatec Trading Up 0.4 %

The business has a 50-day moving average of $10.48 and a two-hundred day moving average of $10.00. 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 market capitalization of $1.83 billion, a price-to-earnings ratio of -9.75 and a beta of 1.06.

Alphatec (NASDAQ:ATEC - Get Free Report) last released its earnings results on Thursday, May 1st. The medical technology company reported ($0.35) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.12) by ($0.23). Alphatec had a negative net margin of 31.06% and a negative return on equity of 541.39%. The company had revenue of $169.18 million for the quarter, compared to analyst estimates of $167.57 million. During the same quarter in the previous year, the firm earned ($0.34) EPS. The firm's revenue was up 22.2% on a year-over-year basis. Research analysts predict that Alphatec Holdings, Inc. will post -1.08 EPS for the current fiscal year.

Insider Activity

In other news, CEO Patrick Miles sold 32,393 shares of the firm's 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 in the company, valued at $64,690,857.99. This trade represents a 0.54 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP David Sponsel sold 12,946 shares of Alphatec stock in a transaction on Monday, February 24th. The stock was sold at an average price of $10.73, for a total transaction of $138,910.58. Following the completion of the transaction, the executive vice president now directly owns 722,128 shares of the company's stock, valued at approximately $7,748,433.44. This represents a 1.76 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 126,945 shares of company stock valued at $1,416,352 in the last quarter. 22.80% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Alphatec

Institutional investors have recently modified their holdings of the business. Congress Asset Management Co. increased its holdings 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 worth $3,993,000 after acquiring an additional 305,296 shares during the period. Barclays PLC raised its stake in Alphatec by 362.3% in the third quarter. Barclays PLC now owns 170,546 shares of the medical technology company's stock valued at $948,000 after buying an additional 133,653 shares during the last quarter. Rhumbline Advisers increased its holdings in Alphatec by 1.3% in the 4th quarter. Rhumbline Advisers now owns 139,088 shares of the medical technology company's stock worth $1,277,000 after acquiring an additional 1,746 shares in the last quarter. Russell Investments Group Ltd. grew its holdings in shares of Alphatec by 20.0% during the 4th quarter. Russell Investments Group Ltd. now owns 199,886 shares of the medical technology company's stock worth $1,835,000 after purchasing an additional 33,362 shares during the period. Finally, Nisa Investment Advisors LLC boosted its holdings in Alphatec by 973.3% in the fourth 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 in 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.