Alphatec Holdings Inc (NASDAQ:ATEC) passed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $4.26 and traded as high as $5.19. Alphatec shares last traded at $5.07, with a volume of 12,197 shares changing hands.
Several brokerages have recently weighed in on ATEC. HC Wainwright raised their price objective on Alphatec from $4.00 to $6.00 and gave the company a “buy” rating in a report on Tuesday, August 6th. Piper Jaffray Companies began coverage on Alphatec in a report on Monday, August 5th. They issued an “overweight” rating and a $7.00 price objective for the company. ValuEngine upgraded Alphatec from a “buy” rating to a “strong-buy” rating in a report on Thursday, August 8th. Canaccord Genuity began coverage on Alphatec in a report on Wednesday, August 28th. They issued a “buy” rating and a $7.00 price objective for the company. Finally, BidaskClub cut Alphatec from a “buy” rating to a “hold” rating in a report on Wednesday, August 28th. Two investment analysts have rated the stock with a hold rating, three have issued a buy rating and one has given a strong buy rating to the stock. The company currently has a consensus rating of “Buy” and an average target price of $6.67.
The firm has a market capitalization of $307.44 million, a price-to-earnings ratio of -8.64 and a beta of 1.41. The company’s 50 day moving average is $5.58 and its 200-day moving average is $4.26. The company has a current ratio of 2.45, a quick ratio of 1.40 and a debt-to-equity ratio of 3.59.
Alphatec (NASDAQ:ATEC) last issued its earnings results on Wednesday, July 24th. The medical technology company reported ($0.21) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.16) by ($0.05). Alphatec had a negative net margin of 45.29% and a negative return on equity of 211.15%. The firm had revenue of $27.32 million during the quarter, compared to analyst estimates of $25.37 million. Research analysts expect that Alphatec Holdings Inc will post -0.91 EPS for the current year.
In other Alphatec news, EVP Craig E. Hunsaker sold 50,000 shares of the business’s stock in a transaction on Thursday, July 25th. The shares were sold at an average price of $5.00, for a total transaction of $250,000.00. Following the sale, the executive vice president now owns 811,112 shares of the company’s stock, valued at $4,055,560. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Jeffrey G. Black sold 8,929 shares of the business’s stock in a transaction on Friday, August 2nd. The shares were sold at an average price of $4.75, for a total transaction of $42,412.75. Following the completion of the transaction, the chief financial officer now owns 511,862 shares in the company, valued at approximately $2,431,344.50. The disclosure for this sale can be found here. Insiders sold a total of 208,929 shares of company stock valued at $1,167,913 over the last quarter. 34.32% of the stock is currently owned by company insiders.
A number of hedge funds have recently added to or reduced their stakes in the stock. Royal Bank of Canada lifted its holdings in Alphatec by 143.2% in the second quarter. Royal Bank of Canada now owns 6,686 shares of the medical technology company’s stock valued at $30,000 after buying an additional 3,937 shares during the period. Advisor Group Inc. acquired a new position in Alphatec in the second quarter valued at $36,000. JPMorgan Chase & Co. acquired a new position in Alphatec in the second quarter valued at $36,000. Russell Investments Group Ltd. acquired a new position in Alphatec in the second quarter valued at $40,000. Finally, Susquehanna International Group LLP acquired a new position in Alphatec in the second quarter valued at $53,000. Institutional investors and hedge funds own 19.64% of the company’s stock.
About Alphatec (NASDAQ:ATEC)
Alphatec Holdings, Inc, a medical technology company, focuses on the design, development, and promotion of products for the surgical treatment of spine disorders. Its product portfolio and pipeline address the cervical, thoracolumbar, and intervertebral regions of the spine; and cover various spinal disorders and surgical procedures.
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