Alphatec (NASDAQ:ATEC) Sees Strong Trading Volume – Time to Buy?

Alphatec Holdings, Inc. (NASDAQ:ATEC) saw an uptick in trading volume on Wednesday . 3,098,024 shares changed hands during trading, an increase of 60% from the previous session’s volume of 1,932,874 shares.The stock last traded at $11.65 and had previously closed at $11.73.

Wall Street Analysts Forecast Growth

ATEC has been the topic of a number of recent analyst reports. HC Wainwright reissued a “buy” rating and issued a $20.00 price target on shares of Alphatec in a report on Tuesday, January 14th. Piper Sandler upped their target price on shares of Alphatec from $12.00 to $13.00 and gave the stock an “overweight” rating in a report on Thursday, February 27th. StockNews.com raised shares of Alphatec from a “sell” rating to a “hold” rating in a report on Friday, February 28th. Barclays upped their price target on shares of Alphatec from $20.00 to $21.00 and gave the stock an “overweight” rating in a report on Wednesday, January 22nd. Finally, Needham & Company LLC reissued a “buy” rating and set a $16.00 price objective on shares of Alphatec in a research note on Thursday, February 27th. Two research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $17.67.

Alphatec Trading Down 2.7 %

The stock has a fifty day moving average of $10.81 and a two-hundred day moving average of $8.53. The company has a market capitalization of $1.65 billion, a PE ratio of -8.95 and a beta of 1.43. The company has a current ratio of 2.32, a quick ratio of 1.15 and a debt-to-equity ratio of 30.21.

Alphatec (NASDAQ:ATEC) last posted its quarterly earnings results on Wednesday, February 26th. The medical technology company reported ($0.23) EPS for the quarter, missing the consensus estimate of ($0.19) by ($0.04). Alphatec had a negative return on equity of 541.39% and a negative net margin of 31.06%. The business had revenue of $176.79 million for the quarter, compared to analysts’ expectations of $172.74 million. As a group, sell-side analysts anticipate that Alphatec Holdings, Inc. will post -1.08 earnings per share for the current fiscal year.

Insider Activity

In related news, COO Scott Lish sold 27,453 shares of Alphatec stock in a transaction on Thursday, February 6th. The shares were sold at an average price of $11.49, for a total value of $315,434.97. Following the transaction, the chief operating officer now directly owns 867,677 shares of the company’s stock, valued at $9,969,608.73. The trade was a 3.07 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Patrick Miles sold 6,687 shares of the company’s stock in a transaction 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 sale, the chief executive officer now owns 5,501,715 shares of the company’s stock, valued at $66,020,580. This represents a 0.12 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 290,898 shares of company stock valued at $3,327,710. 22.80% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Alphatec

Hedge funds have recently modified their holdings of the company. Comerica Bank boosted its holdings in shares of Alphatec by 66.8% during the fourth quarter. Comerica Bank now owns 3,116 shares of the medical technology company’s stock worth $29,000 after purchasing an additional 1,248 shares during the period. R Squared Ltd bought a new position in shares of Alphatec during the fourth quarter valued at approximately $29,000. Nisa Investment Advisors LLC raised its holdings 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 in the last quarter. Quarry LP lifted its position in shares of Alphatec by 79.2% in the 4th quarter. Quarry LP now owns 5,374 shares of the medical technology company’s stock worth $49,000 after purchasing an additional 2,375 shares during the period. Finally, Newton One Investments LLC purchased a new position in shares of Alphatec during the fourth quarter valued at about $50,000. Hedge funds and other 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.