Alphatec (NASDAQ:ATEC) Stock Price Up 4.9% - Here's Why

Key Points

• Alphatec Holdings, Inc. stock rose 4.9%, reaching a peak of $14.96 during trading, despite a significant 39% decline in trading volume compared to the average.
• Multiple analysts have offered varying opinions on the stock, with Barclays raising its price target to $22.00 and Weiss Ratings maintaining a "sell" rating, while the consensus rating is a "Moderate Buy".
• The company reported a quarterly earnings per share (EPS) of $0.02, surpassing expectations, and noted a revenue increase of 27.5% year-over-year, amounting to $185.54 million for the quarter.

Alphatec Holdings, Inc. (NASDAQ:ATEC - Get Free Report) shot up 4.9% during trading on Friday . The company traded as high as $14.86 and last traded at $14.96. 1,239,284 shares were traded during trading, a decline of 39% from the average session volume of 2,038,247 shares. The stock had previously closed at $14.26.

Analysts Set New Price Targets

ATEC has been the topic of several research reports. Weiss Ratings restated a "sell (d-)" rating on shares of Alphatec in a research report on Tuesday. Barclays reaffirmed an "overweight" rating and set a $22.00 price objective (up from $21.00) on shares of Alphatec in a research note on Monday, August 4th. Wall Street Zen lowered shares of Alphatec from a "buy" rating to a "hold" rating in a research note on Friday, September 26th. Canaccord Genuity Group reaffirmed a "buy" rating and set a $20.00 price objective on shares of Alphatec in a research note on Friday, August 1st. Finally, Wells Fargo & Company lifted their price objective on shares of Alphatec from $14.00 to $16.00 and gave the stock an "overweight" rating in a research note on Thursday. Seven analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $18.14.

Alphatec Trading Up 4.3%

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 stock has a market cap of $2.20 billion, a price-to-earnings ratio of -13.21 and a beta of 1.05. The company's fifty day moving average price is $15.16 and its 200-day moving average price is $12.75.

Alphatec (NASDAQ:ATEC - Get Free Report) last posted its quarterly earnings data on Thursday, July 31st. The medical technology company reported $0.02 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.06) by $0.08. The company had revenue of $185.54 million for the quarter, compared to analyst estimates of $178.85 million. The business's revenue was up 27.5% compared to the same quarter last year. During the same quarter last year, the company earned ($0.29) EPS. Alphatec has set its FY 2025 guidance at EPS. On average, research analysts expect that Alphatec Holdings, Inc. will post -1.08 EPS for the current fiscal year.

Insider Transactions at Alphatec

In other Alphatec news, EVP Craig E. Hunsaker sold 10,876 shares of the company's stock in a transaction that occurred 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 sale, the executive vice president owned 1,389,142 shares in the company, valued at approximately $21,295,546.86. This represents a 0.78% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Mortimer Berkowitz III sold 62,500 shares of the company's stock in a transaction that occurred on Tuesday, September 9th. The stock was sold at an average price of $15.97, for a total value of $998,125.00. Following the completion of the sale, the director owned 618,050 shares in the company, valued at approximately $9,870,258.50. This represents a 9.18% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 780,575 shares of company stock valued at $11,769,527 over the last quarter. Company insiders own 20.90% of the company's stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Norden Group LLC grew its holdings in Alphatec by 2.6% during the third quarter. Norden Group LLC now owns 36,676 shares of the medical technology company's stock worth $533,000 after acquiring an additional 939 shares during the period. Ameritas Investment Partners Inc. grew its holdings in Alphatec by 8.8% during the second quarter. Ameritas Investment Partners Inc. now owns 11,845 shares of the medical technology company's stock worth $131,000 after acquiring an additional 955 shares during the period. Nisa Investment Advisors LLC grew its holdings in Alphatec by 22.4% during the second quarter. Nisa Investment Advisors LLC now owns 5,714 shares of the medical technology company's stock worth $63,000 after acquiring an additional 1,045 shares during the period. Oppenheimer Asset Management Inc. grew its holdings in Alphatec by 8.4% during the second quarter. Oppenheimer Asset Management Inc. now owns 14,244 shares of the medical technology company's stock worth $158,000 after acquiring an additional 1,100 shares during the period. Finally, ProShare Advisors LLC grew its holdings in Alphatec by 5.6% during the second quarter. ProShare Advisors LLC now owns 23,790 shares of the medical technology company's stock worth $264,000 after acquiring an additional 1,254 shares during the period. Hedge funds and other institutional investors own 66.35% of the company's stock.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.