Alphatec (NASDAQ:ATEC) Stock Crosses Above Two Hundred Day Moving Average – Here’s What Happened

Alphatec Holdings, Inc. (NASDAQ:ATEC) passed above its two hundred day moving average during trading on Monday. The stock has a two hundred day moving average of $9.56 and traded as high as $10.06. Alphatec shares last traded at $10.05, with a volume of 1,706,550 shares.

Analyst Ratings Changes

Several brokerages have weighed in on ATEC. Weiss Ratings reissued a “sell (d-)” rating on shares of Alphatec in a report on Monday, August 3rd. BMO Capital Markets lifted their target price on shares of Alphatec from $11.00 to $12.00 and gave the company an “outperform” rating in a report on Wednesday, August 5th. TD Cowen increased their target price on Alphatec from $11.00 to $13.00 and gave the company a “buy” rating in a research report on Wednesday, August 5th. UBS Group increased their target price on Alphatec from $15.00 to $16.00 and gave the company a “buy” rating in a report on Wednesday, August 5th. Finally, Wall Street Zen cut shares of Alphatec from a “buy” rating to a “hold” rating in a research report on Sunday, July 12th. Thirteen analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $17.40.

Alphatec Stock Performance

The firm has a fifty day simple moving average of $9.59 and a 200-day simple moving average of $9.54. The company has a quick ratio of 1.07, a current ratio of 1.89 and a debt-to-equity ratio of 40.35. The company has a market cap of $1.60 billion, a PE ratio of -14.57 and a beta of 0.85.

Alphatec (NASDAQ:ATEC) last posted its earnings results on Tuesday, August 4th. The medical technology company reported $0.07 earnings per share for the quarter, meeting the consensus estimate of $0.07. The business had revenue of $213.51 million during the quarter, compared to the consensus estimate of $211.26 million. Alphatec had a negative return on equity of 6,752.24% and a negative net margin of 13.49%.The business’s quarterly revenue was up 15.1% on a year-over-year basis. During the same period in the previous year, the business earned $0.02 EPS. On average, research analysts forecast that Alphatec Holdings, Inc. will post -0.45 EPS for the current fiscal year.

Insider Activity at Alphatec

In related news, General Counsel Tyson Marshall sold 8,168 shares of the stock in a transaction on Wednesday, August 5th. The shares were sold at an average price of $9.65, for a total transaction of $78,821.20. Following the completion of the sale, the general counsel owned 630,398 shares in the company, valued at $6,083,340.70. This represents a 1.28% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CEO Patrick Miles acquired 115,000 shares of the company’s stock in a transaction on Thursday, September 10th. The stock was acquired at an average price of $8.81 per share, for a total transaction of $1,013,150.00. Following the completion of the purchase, the chief executive officer owned 5,893,551 shares of the company’s stock, valued at $51,922,184.31. This trade represents a 1.99% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. 13.48% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Alphatec

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Integrated Wealth Concepts LLC acquired a new stake in Alphatec during the 2nd quarter worth approximately $52,000. Allworth Financial LP raised its stake in shares of Alphatec by 82.6% during the second quarter. Allworth Financial LP now owns 6,666 shares of the medical technology company’s stock worth $58,000 after purchasing an additional 3,015 shares during the last quarter. VIRGINIA RETIREMENT SYSTEMS ET Al acquired a new stake in shares of Alphatec during the second quarter worth $218,000. FirstWave Capital Management LLC purchased a new position in Alphatec in the 2nd quarter valued at $1,244,000. Finally, Paradigm Capital Management Inc. NY acquired a new position in Alphatec in the 2nd quarter valued at $9,413,000. Hedge funds and other institutional investors own 66.35% of the company’s stock.

About Alphatec

Alphatec Holdings, Inc (NASDAQ: ATEC) is a medical technology company focused on improving the surgical treatment of spinal disorders. The company develops and commercializes products designed to support spine surgery, including implants, biologics, surgical instruments and related technologies.

Its portfolio is intended for procedures addressing conditions such as spinal deformities, degenerative disc disease and other disorders affecting the spine. Alphatec emphasizes surgeon-focused solutions and integrated technologies that support preoperative planning, intraoperative decision-making and the placement of spinal implants.

Headquartered in Carlsbad, California, Alphatec serves hospitals, surgeons and other healthcare providers in the United States and select international markets.