Alphatec (NASDAQ:ATEC) Sees Large Volume Increase - Here's What Happened

Alphatec Holdings, Inc. (NASDAQ:ATEC - Get Free Report) saw strong trading volume on Wednesday . 3,098,024 shares traded 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.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on ATEC. StockNews.com raised shares of Alphatec from a "sell" rating to a "hold" rating in a report on Friday, February 28th. Barclays raised their price objective on Alphatec from $20.00 to $21.00 and gave the company an "overweight" rating in a research note on Wednesday, January 22nd. Needham & Company LLC reiterated a "buy" rating and set a $16.00 target price on shares of Alphatec in a research report on Thursday, February 27th. Piper Sandler upped their target price on Alphatec from $12.00 to $13.00 and gave the company an "overweight" rating in a report on Thursday, February 27th. Finally, HC Wainwright reaffirmed a "buy" rating and set a $20.00 price target on shares of Alphatec in a research note on Tuesday, January 14th. Two research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company's stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $17.67.

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Alphatec Trading Down 3.1 %

The business has a 50-day moving average of $10.91 and a 200 day moving average of $8.64. The stock has a market cap of $1.51 billion, a PE ratio of -8.17 and a beta of 1.39. The company has a debt-to-equity ratio of 30.21, a quick ratio of 1.15 and a current ratio of 2.32.

Alphatec (NASDAQ:ATEC - Get Free Report) last issued its quarterly earnings results on Wednesday, February 26th. The medical technology company reported ($0.23) EPS for the quarter, missing analysts' consensus estimates of ($0.19) by ($0.04). The firm had revenue of $176.79 million for the quarter, compared to analysts' expectations of $172.74 million. Alphatec had a negative return on equity of 541.39% and a negative net margin of 31.06%. Equities research analysts predict that Alphatec Holdings, Inc. will post -1.08 EPS for the current fiscal year.

Insider Buying and Selling at Alphatec

In related news, CEO Patrick Miles sold 50,000 shares of the business's stock in a transaction that occurred on Wednesday, January 29th. The shares were sold at an average price of $12.03, for a total value of $601,500.00. Following the completion of the sale, the chief executive officer now directly owns 6,152,544 shares in the company, valued at approximately $74,015,104.32. The trade was a 0.81 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, 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 transaction, the executive vice president now directly owns 502,311 shares in the company, 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. In the last three months, insiders sold 303,589 shares of company stock worth $3,462,743. Insiders own 22.80% of the company's stock.

Institutional Trading of Alphatec

A number of institutional investors and hedge funds have recently made changes to their positions in the company. R Squared Ltd purchased a new stake in Alphatec during the fourth quarter valued at about $29,000. Comerica Bank lifted its holdings in shares of Alphatec by 66.8% during the 4th quarter. Comerica Bank now owns 3,116 shares of the medical technology company's stock valued at $29,000 after acquiring an additional 1,248 shares in the last quarter. Nisa Investment Advisors LLC boosted its position in Alphatec by 973.3% during 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 during the period. Quarry LP increased its holdings in Alphatec by 79.2% in the 4th quarter. Quarry LP now owns 5,374 shares of the medical technology company's stock valued at $49,000 after purchasing an additional 2,375 shares in the last quarter. Finally, Newton One Investments LLC purchased a new position in Alphatec in the fourth quarter valued at about $50,000. 66.35% of the stock is currently owned by institutional investors and hedge funds.

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.