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

Alphatec Holdings, Inc. (NASDAQ:ATEC) shot 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 traded 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.

Wall Street Analysts Forecast Growth

ATEC has been the topic of a number of research analyst reports. Needham & Company LLC boosted their target price on shares of Alphatec from $13.00 to $16.00 and gave the company a “buy” rating in a research note on Monday, January 13th. HC Wainwright reissued a “buy” rating and set a $20.00 price objective on shares of Alphatec in a report on Tuesday, January 14th. Finally, Barclays boosted their target price on Alphatec from $20.00 to $21.00 and gave the company an “overweight” rating in a research note on Wednesday, January 22nd. One research analyst has rated the stock with a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat.com, Alphatec currently has an average rating of “Moderate Buy” and an average price target of $17.56.

Alphatec Price Performance

The business’s 50-day moving average price is $10.01 and its 200 day moving average price is $8.07. The company has a market capitalization of $1.71 billion, a P/E ratio of -9.42 and a beta of 1.41. The company has a quick ratio of 1.15, a current ratio of 2.32 and a debt-to-equity ratio of 30.21.

Insider Activity

In related news, CEO Patrick Miles sold 6,687 shares of the company’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 value of $80,244.00. Following the transaction, the chief executive officer now directly owns 5,501,715 shares in the company, valued at approximately $66,020,580. This represents a 0.12 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP David Sponsel sold 58,283 shares of the business’s stock in a transaction that occurred on Monday, January 13th. The stock was sold at an average price of $10.71, for a total transaction of $624,210.93. Following the completion of the transaction, the executive vice president now directly owns 502,311 shares of the company’s stock, valued at approximately $5,379,750.81. This represents a 10.40 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 65,208 shares of company stock worth $706,835 in the last three months. Corporate insiders own 22.80% of the company’s stock.

Institutional Trading of Alphatec

Several hedge funds and other institutional investors have recently bought and sold shares of ATEC. Atria Investments Inc boosted its stake in shares of Alphatec by 8.0% in the 3rd quarter. Atria Investments Inc now owns 19,609 shares of the medical technology company’s stock valued at $109,000 after purchasing an additional 1,460 shares in the last quarter. Entropy Technologies LP boosted its position in Alphatec by 14.9% during the third quarter. Entropy Technologies LP now owns 21,623 shares of the medical technology company’s stock valued at $120,000 after buying an additional 2,800 shares during the period. R Squared Ltd purchased a new position in shares of Alphatec in the fourth quarter worth about $29,000. Wrapmanager Inc. increased its holdings in shares of Alphatec by 9.5% in the third quarter. Wrapmanager Inc. now owns 38,399 shares of the medical technology company’s stock worth $213,000 after buying an additional 3,325 shares during the period. Finally, Nisa Investment Advisors LLC lifted its stake in shares of Alphatec by 973.3% in the 4th quarter. Nisa Investment Advisors LLC now owns 4,669 shares of the medical technology company’s stock valued at $43,000 after acquiring an additional 4,234 shares during the last quarter. 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.