Alphatec Holdings, Inc. (NASDAQ:ATEC) Short Interest Update

Alphatec Holdings, Inc. (NASDAQ:ATEC - Get Free Report) was the recipient of a significant increase in short interest in the month of March. As of March 31st, there was short interest totalling 12,360,000 shares, an increase of 12.2% from the March 15th total of 11,020,000 shares. Based on an average daily volume of 1,690,000 shares, the days-to-cover ratio is currently 7.3 days.

Insider Buying and Selling

In related news, EVP Craig E. Hunsaker sold 41,560 shares of the stock in a transaction on Monday, February 26th. The stock was sold at an average price of $15.05, for a total transaction of $625,478.00. Following the completion of the sale, the executive vice president now directly owns 1,188,444 shares of the company's stock, valued at $17,886,082.20. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In other Alphatec news, EVP David Sponsel sold 2,500 shares of the firm's stock in a transaction on Wednesday, February 14th. The stock was sold at an average price of $16.16, for a total value of $40,400.00. Following the completion of the sale, the executive vice president now owns 637,418 shares of the company's stock, valued at $10,300,674.88. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, EVP Craig E. Hunsaker sold 41,560 shares of the firm's stock in a transaction on Monday, February 26th. The shares were sold at an average price of $15.05, for a total value of $625,478.00. Following the completion of the sale, the executive vice president now directly owns 1,188,444 shares of the company's stock, valued at approximately $17,886,082.20. The disclosure for this sale can be found here. Insiders sold a total of 250,069 shares of company stock valued at $3,528,245 over the last three months. 29.12% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Alphatec

Hedge funds and other institutional investors have recently modified their holdings of the company. BluePath Capital Management LLC acquired a new position in shares of Alphatec in the 3rd quarter valued at about $29,000. Macquarie Group Ltd. acquired a new position in shares of Alphatec in the 1st quarter valued at about $40,000. Lazard Asset Management LLC acquired a new position in shares of Alphatec in the 2nd quarter valued at about $49,000. Comerica Bank acquired a new position in Alphatec during the 3rd quarter worth approximately $36,000. Finally, State of Wyoming lifted its position in Alphatec by 59.1% during the 2nd quarter. State of Wyoming now owns 3,763 shares of the medical technology company's stock worth $68,000 after acquiring an additional 1,398 shares in the last quarter. 66.35% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on the company. Needham & Company LLC raised their target price on Alphatec from $22.00 to $23.00 and gave the company a "buy" rating in a report on Thursday, March 28th. Canaccord Genuity Group restated a "buy" rating and issued a $25.00 price target on shares of Alphatec in a research report on Wednesday, March 20th. Wells Fargo & Company started coverage on Alphatec in a research report on Friday, February 9th. They issued an "overweight" rating and a $26.00 price target for the company. Finally, HC Wainwright restated a "buy" rating and issued a $20.00 price target on shares of Alphatec in a research report on Monday, March 4th. One investment analyst has rated the stock with a sell rating and seven have issued a buy rating to the company. Based on data from MarketBeat.com, Alphatec currently has an average rating of "Moderate Buy" and an average target price of $23.63.

Alphatec Price Performance

Alphatec stock traded down $0.48 during midday trading on Friday, reaching $13.30. 1,359,090 shares of the company were exchanged, compared to its average volume of 1,802,450. The company has a market capitalization of $1.84 billion, a price-to-earnings ratio of -8.58 and a beta of 1.55. The firm's 50-day simple moving average is $14.33 and its 200-day simple moving average is $13.43. Alphatec has a 1 year low of $8.66 and a 1 year high of $19.14. The company has a debt-to-equity ratio of 6.54, a quick ratio of 1.99 and a current ratio of 2.86.

Alphatec (NASDAQ:ATEC - Get Free Report) last posted its quarterly earnings results on Tuesday, February 27th. The medical technology company reported ($0.37) EPS for the quarter, missing the consensus estimate of ($0.28) by ($0.09). The business had revenue of $138.00 million during the quarter, compared to the consensus estimate of $131.90 million. Alphatec's revenue for the quarter was up 30.3% compared to the same quarter last year. During the same period last year, the business earned ($0.33) EPS. On average, analysts anticipate that Alphatec will post -1.1 EPS for the current year.

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.