Alphatec (NASDAQ:ATEC) Sees Strong Trading Volume After Insider Buying Activity

by · The Markets Daily

Alphatec Holdings, Inc. (NASDAQ:ATEC – Get Free Report) shares saw unusually-strong trading volume on Monday after an insider bought additional shares in the company. Approximately 4,697,587 shares were traded during mid-day trading, an increase of 56% from the average daily volume of 3,018,966 shares. The stock last traded at $7.4560 and had previously closed at $7.04.

Specifically, Director David Demski acquired 60,000 shares of the business’s stock in a transaction on Friday, October 30th. The shares were acquired at an average price of $6.81 per share, with a total value of $408,600.00. Following the completion of the transaction, the director owned 491,635 shares in the company, valued at approximately $3,348,034.35. This trade represents a 13.90% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Analysts Set New Price Targets

A number of brokerages have issued reports on ATEC. Needham & Company LLC reduced their price objective on Alphatec from $14.00 to $12.00 and set a “buy” rating for the company in a research note on Friday. UBS Group cut Alphatec from a “buy” rating to a “neutral” rating and set a $8.50 target price on the stock. in a research note on Wednesday. Canaccord Genuity Group cut their price target on shares of Alphatec from $19.00 to $16.00 and set a “buy” rating on the stock in a report on Friday, October 30th. TD Cowen cut their price target on shares of Alphatec from $13.00 to $10.00 and set a “buy” rating on the stock in a report on Friday. Finally, Stephens started coverage on shares of Alphatec in a research report on Thursday, July 23rd. They set an “overweight” rating and a $15.00 price target for the company. Eleven equities research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $15.63.

Get Our Latest Report on ATEC

Alphatec Trading Up 2.2%

The firm has a fifty day moving average of $10.06 and a two-hundred day moving average of $10.53. The company has a market cap of $1.16 billion, a PE ratio of -13.58 and a beta of 0.88.

Alphatec (NASDAQ:ATEC – Get Free Report) last announced its quarterly earnings data on Thursday, October 29th. The medical technology company reported $0.09 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.10 by ($0.01). The firm had revenue of $221.17 million during the quarter, compared to the consensus estimate of $225.16 million. Alphatec had a negative net margin of 10.35% and a negative return on equity of 6,752.24%. The company’s revenue was up 12.6% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.03 earnings per share. Sell-side analysts expect that Alphatec Holdings, Inc. will post -0.45 EPS for the current fiscal year.

Hedge Funds Weigh In On Alphatec

Several large investors have recently modified their holdings of ATEC. Brighton Jones LLC purchased a new position in shares of Alphatec in the third quarter valued at $142,000. Kestra Advisory Services LLC raised its stake in shares of Alphatec by 130.8% during the 3rd quarter. Kestra Advisory Services LLC now owns 49,616 shares of the medical technology company’s stock valued at $512,000 after purchasing an additional 28,114 shares during the period. Chicago Partners Investment Group LLC bought a new stake in shares of Alphatec during the 3rd quarter valued at $112,000. State of Wyoming lifted its holdings in Alphatec by 87.7% during the 3rd quarter. State of Wyoming now owns 30,666 shares of the medical technology company’s stock worth $316,000 after purchasing an additional 14,328 shares in the last quarter. Finally, Sterling Capital Management LLC lifted its holdings in Alphatec by 841.5% during the 3rd quarter. Sterling Capital Management LLC now owns 4,105 shares of the medical technology company’s stock worth $42,000 after purchasing an additional 3,669 shares in the last quarter. Hedge funds and other institutional investors own 66.35% of the company’s stock.

Alphatec Company Profile

(Get Free Report)

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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