Alphatec (NASDAQ:ATEC) Trading Up 5.3% - Here's Why

Key Points

• Alphatec shares rose 5.3% on Thursday, trading as high as $9.60 before ending near $9.52, though volume was far below normal.
• Analyst sentiment remains mixed but mostly positive: several firms kept or issued buy/outperform ratings, while one firm downgraded the stock to hold. The consensus price target is $17.46.
• Recent insider and institutional activity shows continued interest in the company, with a director selling shares under a pre-arranged plan and hedge funds/investors owning 66.35% of the stock.

Alphatec Holdings, Inc. (NASDAQ:ATEC - Get Free Report)'s stock price rose 5.3% during trading on Thursday . The stock traded as high as $9.60 and last traded at $9.5150. 122,796 shares were traded during mid-day trading, a decline of 96% from the average daily volume of 3,215,935 shares. The stock had previously closed at $9.04.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on ATEC shares. Wall Street Zen cut Alphatec from a "buy" rating to a "hold" rating in a report on Sunday. Canaccord Genuity Group decreased their price target on Alphatec from $25.00 to $23.00 and set a "buy" rating for the company in a report on Wednesday, May 6th. BMO Capital Markets initiated coverage on Alphatec in a research report on Wednesday, July 8th. They issued an "outperform" rating and a $11.00 price objective on the stock. Weiss Ratings raised shares of Alphatec from a "sell (e+)" rating to a "sell (d-)" rating in a report on Wednesday, May 6th. Finally, Stifel Nicolaus lowered their price target on shares of Alphatec from $16.00 to $13.00 and set a "buy" rating on the stock in a report on Wednesday, July 8th. One research analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $17.46.

Alphatec Stock Up 4.3%

The company has a market cap of $1.45 billion, a price-to-earnings ratio of -11.51 and a beta of 0.85. The business has a fifty day moving average of $8.38 and a two-hundred day moving average of $11.95. The company has a current ratio of 1.90, a quick ratio of 1.12 and a debt-to-equity ratio of 40.35.

Insider Buying and Selling at Alphatec

In other news, Director Karen K. Mcginnis sold 6,050 shares of the company's stock in a transaction that occurred on Thursday, June 11th. The stock was sold at an average price of $8.01, for a total transaction of $48,460.50. Following the completion of the transaction, the director directly owned 94,671 shares of the company's stock, valued at $758,314.71. This represents a 6.01% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. 13.48% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Alphatec

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Handelsbanken Fonder AB acquired a new position in Alphatec during the second quarter worth $427,000. Redhawk Wealth Advisors Inc. lifted its holdings in Alphatec by 87.8% during the second quarter. Redhawk Wealth Advisors Inc. now owns 19,412 shares of the medical technology company's stock valued at $168,000 after purchasing an additional 9,077 shares in the last quarter. Atlas Brown Inc. acquired a new stake in shares of Alphatec in the second quarter valued at about $111,000. Valeo Financial Advisors LLC grew its position in shares of Alphatec by 7.2% in the second quarter. Valeo Financial Advisors LLC now owns 44,363 shares of the medical technology company's stock valued at $384,000 after purchasing an additional 2,967 shares during the period. Finally, Western Wealth Management LLC increased its stake in shares of Alphatec by 20.9% during the first quarter. Western Wealth Management LLC now owns 103,909 shares of the medical technology company's stock worth $1,131,000 after purchasing an additional 17,928 shares in the last quarter. Hedge funds and other institutional investors own 66.35% of the company's stock.

Alphatec Company Profile

Alphatec Holdings, Inc NASDAQ: ATEC is a medical technology company focused on the design, development and commercialization of products for the surgical correction of degenerative spinal conditions. The company's portfolio centers on interbody implants, biologics, fixation devices and surgical planning tools intended to improve patient outcomes in spinal fusion procedures. Alphatec's flagship offerings include customizable interbody cages, bone graft materials and specialized instrumentation designed for minimally invasive and open spinal surgeries.

Founded as Alphatec Spine in 1985 and rebranded as Alphatec Holdings in 2018, the company has grown from a single-product organization into a multi-platform innovator in the spine market.

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