Alphatec (NASDAQ:ATEC) Trading Up 5.9% – What’s Next?

Alphatec Holdings, Inc. (NASDAQ:ATEC) rose 5.9% on Wednesday . The company traded as high as $12.01 and last traded at $12.13. Approximately 911,271 shares were traded during trading, a decline of 49% from the average daily 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 recent analyst reports. HC Wainwright reissued a “buy” rating and set a $20.00 price target on shares of Alphatec in a research report on Tuesday, January 14th. Barclays boosted their price target on Alphatec from $20.00 to $21.00 and gave the stock an “overweight” rating in a research report on Wednesday, January 22nd. Finally, Needham & Company LLC boosted their price target on Alphatec from $13.00 to $16.00 and gave the stock a “buy” rating in a research report on Monday, January 13th. One analyst has rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $17.56.

Alphatec Stock Up 0.3 %

The firm has a market cap of $1.67 billion, a price-to-earnings ratio of -9.21 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. The stock has a 50-day moving average of $10.08 and a 200-day moving average of $8.12.

Insider Buying and Selling

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

Hedge Funds Weigh In On Alphatec

A number of hedge funds have recently added to or reduced their stakes in the stock. State Street Corp raised its holdings in shares of Alphatec by 10.1% in the 3rd quarter. State Street Corp now owns 3,138,960 shares of the medical technology company’s stock worth $17,453,000 after purchasing an additional 287,350 shares during the period. BNP PARIBAS ASSET MANAGEMENT Holding S.A. raised its holdings in Alphatec by 11.3% during the 3rd quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 2,928,094 shares of the medical technology company’s stock valued at $16,280,000 after acquiring an additional 297,850 shares during the period. Royce & Associates LP raised its holdings in Alphatec by 15.9% during the 3rd quarter. Royce & Associates LP now owns 1,212,286 shares of the medical technology company’s stock valued at $6,740,000 after acquiring an additional 165,954 shares during the period. New York State Common Retirement Fund raised its holdings in Alphatec by 21.2% during the 4th quarter. New York State Common Retirement Fund now owns 1,202,334 shares of the medical technology company’s stock valued at $11,037,000 after acquiring an additional 210,519 shares during the period. Finally, Walleye Capital LLC raised its holdings in Alphatec by 3.2% during the 3rd quarter. Walleye Capital LLC now owns 1,061,462 shares of the medical technology company’s stock valued at $5,902,000 after acquiring an additional 32,529 shares during the period. Institutional investors and hedge funds own 66.35% of the company’s stock.

About Alphatec

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.