Alphatec Holdings, Inc. (NASDAQ:ATEC) Short Interest Down 6.7% in May

Alphatec Holdings, Inc. (NASDAQ:ATECGet Free Report) saw a large decline in short interest in the month of May. As of May 15th, there was short interest totalling 11,350,000 shares, a decline of 6.7% from the April 30th total of 12,170,000 shares. Based on an average daily trading volume, of 1,840,000 shares, the short-interest ratio is currently 6.2 days.

Alphatec Trading Down 4.1 %

Shares of ATEC traded down $0.42 during trading hours on Friday, hitting $9.71. 1,665,436 shares of the stock traded hands, compared to its average volume of 1,842,895. The company has a current ratio of 2.39, a quick ratio of 1.49 and a debt-to-equity ratio of 13.63. Alphatec has a 1-year low of $8.66 and a 1-year high of $19.14. The firm has a market capitalization of $1.36 billion, a PE ratio of -6.52 and a beta of 1.48. The business has a fifty day moving average of $12.35 and a 200-day moving average of $13.57.

Alphatec (NASDAQ:ATECGet Free Report) last released its quarterly earnings data on Tuesday, May 7th. The medical technology company reported ($0.34) EPS for the quarter, missing analysts’ consensus estimates of ($0.33) by ($0.01). The company had revenue of $138.48 million during the quarter, compared to the consensus estimate of $134.07 million. Alphatec had a negative net margin of 37.45% and a negative return on equity of 1,767.81%. The company’s revenue for the quarter was up 26.9% compared to the same quarter last year. During the same quarter in the prior year, the company posted ($0.40) EPS. Analysts expect that Alphatec will post -1.05 EPS for the current year.

Insiders Place Their Bets

In other Alphatec news, General Counsel Tyson Eliot Marshall sold 9,225 shares of Alphatec stock in a transaction that occurred on Wednesday, March 6th. The stock was sold at an average price of $13.16, for a total value of $121,401.00. Following the transaction, the general counsel now directly owns 295,870 shares of the company’s stock, valued at approximately $3,893,649.20. The sale was disclosed in a document filed with the SEC, which is accessible through this link. In other news, CFO John Todd Koning sold 37,500 shares of Alphatec stock in a transaction that occurred on Wednesday, April 24th. The stock was sold at an average price of $12.82, for a total transaction of $480,750.00. Following the sale, the chief financial officer now owns 393,356 shares of the company’s stock, valued at approximately $5,042,823.92. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, General Counsel Tyson Eliot Marshall sold 9,225 shares of Alphatec stock in a transaction that occurred on Wednesday, March 6th. The stock was sold at an average price of $13.16, for a total value of $121,401.00. Following the sale, the general counsel now directly owns 295,870 shares in the company, valued at approximately $3,893,649.20. The disclosure for this sale can be found here. Company insiders own 22.80% of the company’s stock.

Institutional Investors Weigh In On Alphatec

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. RiverPark Advisors LLC bought a new stake in shares of Alphatec in the third quarter worth about $53,000. Provence Wealth Management Group acquired a new position in shares of Alphatec during the third quarter worth about $56,000. Comerica Bank boosted its position in shares of Alphatec by 64.8% during the first quarter. Comerica Bank now owns 6,443 shares of the medical technology company’s stock worth $89,000 after buying an additional 2,534 shares during the period. Van ECK Associates Corp acquired a new position in shares of Alphatec during the third quarter worth about $113,000. Finally, Tidemark LLC acquired a new position in shares of Alphatec during the fourth quarter worth about $137,000. Institutional investors own 66.35% of the company’s stock.

Analyst Ratings Changes

A number of research firms have commented on ATEC. Canaccord Genuity Group reissued a “buy” rating and issued a $25.00 price objective on shares of Alphatec in a research note on Wednesday, March 20th. Piper Sandler reduced their price objective on Alphatec from $19.00 to $17.00 and set an “overweight” rating on the stock in a research note on Wednesday, May 8th. HC Wainwright reissued a “buy” rating and issued a $20.00 price objective on shares of Alphatec in a research note on Monday, March 4th. Wells Fargo & Company began coverage on Alphatec in a research note on Friday, February 9th. They issued an “overweight” rating and a $26.00 price objective on the stock. Finally, Needham & Company LLC reissued a “buy” rating and issued a $23.00 price objective on shares of Alphatec in a research note on Wednesday, May 8th. One analyst has rated the stock with a sell rating and eight have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $22.89.

Check Out Our Latest Analysis on ATEC

Alphatec Company Profile

(Get Free Report)

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.

Further Reading

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