Alphatec (NASDAQ:ATEC) Shares Up 5.1% - Still a Buy?

Key Points

• Alphatec shares rose 5.1% to about $11.43, though trading volume was 85% below the average daily level.
• Analyst sentiment remains positive: 13 analysts rate the stock Buy, one Hold and one Sell, producing a consensus “Moderate Buy” rating and an average price target of $17.40.
• The company met quarterly EPS expectations at $0.07, while revenue of $213.5 million exceeded estimates and increased 15.1% year over year. CEO Patrick Miles also bought 115,000 shares, although the company is still expected to post a full-year loss.

Alphatec Holdings, Inc. (NASDAQ:ATEC - Get Free Report) shot up 5.1% during mid-day trading on Wednesday. The stock traded as high as $11.35 and last traded at $11.4260. 431,688 shares changed hands during mid-day trading, a decline of 85% from the average daily volume of 2,871,678 shares. The stock had previously closed at $10.87.

Analysts Set New Price Targets

ATEC has been the topic of a number of research analyst reports. BMO Capital Markets lifted their target price on Alphatec from $11.00 to $12.00 and gave the stock an "outperform" rating in a research report on Wednesday, August 5th. Stephens started coverage on Alphatec in a research report on Thursday, July 23rd. They issued an "overweight" rating and a $15.00 target price for the company. UBS Group raised their price target on Alphatec from $15.00 to $16.00 and gave the stock a "buy" rating in a research note on Wednesday, August 5th. TD Cowen lifted their price target on Alphatec from $11.00 to $13.00 and gave the stock a "buy" rating in a research report on Wednesday, August 5th. Finally, Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Alphatec in a research report on Monday, August 3rd. Thirteen analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $17.40.

Alphatec Stock Up 4.6%

The company has a fifty day moving average of $10.11 and a two-hundred day moving average of $10.78. The stock has a market capitalization of $1.76 billion, a price-to-earnings ratio of -16.01 and a beta of 0.78.

Alphatec (NASDAQ:ATEC - Get Free Report) last announced its quarterly earnings data on Tuesday, August 4th. The medical technology company reported $0.07 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.07. The firm had revenue of $213.51 million during the quarter, compared to analyst estimates of $211.26 million. The business's quarterly revenue was up 15.1% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.02 earnings per share. Equities analysts anticipate that Alphatec Holdings, Inc. will post -0.45 earnings per share for the current fiscal year.

Insider Activity

In other news, CEO Patrick Miles acquired 115,000 shares of Alphatec stock in a transaction that occurred on Thursday, September 10th. The stock was purchased at an average price of $8.81 per share, for a total transaction of $1,013,150.00. Following the completion of the transaction, the chief executive officer directly owned 5,893,551 shares in the company, valued at approximately $51,922,184.31. This trade represents a 1.99% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, General Counsel Tyson Marshall sold 8,168 shares of the firm's stock in a transaction dated Wednesday, August 5th. The shares were sold at an average price of $9.65, for a total transaction of $78,821.20. Following the completion of the sale, the general counsel owned 630,398 shares of the company's stock, valued at approximately $6,083,340.70. The trade was a 1.28% decrease in their position. The disclosure for this sale is available in the SEC filing. 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. Corporate insiders own 13.48% of the company's stock.

Institutional Trading of Alphatec

Hedge funds have recently modified their holdings of the business. Summit Securities Group LLC purchased a new stake in shares of Alphatec in the first quarter valued at approximately $29,000. Sterling Capital Management LLC raised its position in Alphatec by 841.5% in the third quarter. Sterling Capital Management LLC now owns 4,105 shares of the medical technology company's stock worth $42,000 after acquiring an additional 3,669 shares in the last quarter. Integrated Wealth Concepts LLC acquired a new stake in Alphatec in the second quarter valued at $52,000. Allworth Financial LP lifted its holdings in Alphatec by 82.6% in the second quarter. Allworth Financial LP now owns 6,666 shares of the medical technology company's stock valued at $58,000 after acquiring an additional 3,015 shares during the period. Finally, Lido Advisors LLC acquired a new stake in Alphatec in the first quarter valued at $115,000. 66.35% of the stock is owned by institutional investors and hedge funds.

Alphatec Company Profile

Alphatec Holdings, Inc is a medical technology company focused on the design, development and commercialization of products and procedural solutions for spine surgery. The company aims to improve the treatment of spinal disorders through technologies that support spinal fusion, deformity correction, reconstruction and minimally invasive procedures.

Its portfolio includes spinal implants, surgical instruments, navigation and imaging technologies, and intraoperative monitoring solutions.

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