Alphatec (NASDAQ:ATEC) Trading Up 5.9% – Here’s Why

Alphatec Holdings, Inc. (NASDAQ:ATEC)’s stock price traded up 5.9% during mid-day trading on Wednesday . The company traded as high as $12.01 and last traded at $12.13. 911,271 shares changed hands during trading, a decline of 49% from the average session volume of 1,797,184 shares. The stock had previously closed at $11.45.

Analyst Ratings Changes

ATEC has been the subject of several research analyst reports. HC Wainwright reiterated a “buy” rating and issued a $20.00 price objective on shares of Alphatec in a report on Tuesday, January 14th. Barclays raised their price target on Alphatec from $20.00 to $21.00 and gave the stock an “overweight” rating in a research note on Wednesday, January 22nd. Finally, Needham & Company LLC upped their price objective on shares of Alphatec from $13.00 to $16.00 and gave the stock a “buy” rating in a report on Monday, January 13th. One research analyst has rated the stock with a hold rating and eight have issued a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $17.56.

Alphatec Stock Up 5.3 %

The stock’s 50 day simple moving average is $10.01 and its two-hundred day simple moving average is $8.07. The firm has a market cap of $1.71 billion, a P/E ratio of -9.42 and a beta of 1.41. The company has a debt-to-equity ratio of 30.21, a current ratio of 2.32 and a quick ratio of 1.15.

Insider Buying and Selling at Alphatec

In related news, CEO Patrick Miles sold 6,687 shares of the firm’s stock in a transaction that occurred on Tuesday, January 21st. The shares were sold at an average price of $12.00, for a total transaction of $80,244.00. Following the completion of the sale, the chief executive officer now owns 5,501,715 shares of the company’s stock, valued at $66,020,580. This trade represents a 0.12 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP David Sponsel sold 58,283 shares of the company’s stock in a transaction that occurred on Monday, January 13th. The shares were sold at an average price of $10.71, for a total value of $624,210.93. Following the completion of the transaction, the executive vice president now directly owns 502,311 shares in the company, valued at $5,379,750.81. This trade represents a 10.40 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 65,208 shares of company stock worth $706,835. 22.80% of the stock is owned by insiders.

Hedge Funds Weigh In On Alphatec

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. R Squared Ltd bought a new stake in shares of Alphatec in the fourth quarter worth approximately $29,000. Nisa Investment Advisors LLC grew its position in Alphatec by 973.3% in the 4th quarter. Nisa Investment Advisors LLC now owns 4,669 shares of the medical technology company’s stock worth $43,000 after purchasing an additional 4,234 shares during the period. Newton One Investments LLC purchased a new stake in Alphatec during the 4th quarter valued at $50,000. XTX Topco Ltd bought a new position in shares of Alphatec during the 3rd quarter valued at $69,000. Finally, Net Worth Advisory Group purchased a new position in shares of Alphatec in the 3rd quarter worth $76,000. 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.