Alphatec Holdings, Inc. (NASDAQ:ATEC) Short Interest Up 12.2% in March

Alphatec Holdings, Inc. (NASDAQ:ATEC) saw a large growth in short interest in the month of March. As of March 31st, there was short interest totalling 12,360,000 shares, a growth of 12.2% from the March 15th total of 11,020,000 shares. Based on an average trading volume of 1,690,000 shares, the short-interest ratio is presently 7.3 days.

Insider Activity at Alphatec

In related news, EVP David Sponsel sold 2,500 shares of the business’s stock in a transaction on Wednesday, February 14th. The shares were sold at an average price of $16.16, for a total transaction of $40,400.00. Following the transaction, the executive vice president now owns 637,418 shares in the company, valued at approximately $10,300,674.88. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Alphatec news, General Counsel Tyson Eliot Marshall sold 11,825 shares of the company’s stock in a transaction on Friday, March 1st. The shares were sold at an average price of $13.30, for a total transaction of $157,272.50. Following the transaction, the general counsel now owns 305,095 shares in the company, valued at $4,057,763.50. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, EVP David Sponsel sold 2,500 shares of the company’s stock in a transaction on Wednesday, February 14th. The stock was sold at an average price of $16.16, for a total transaction of $40,400.00. Following the transaction, the executive vice president now owns 637,418 shares in the company, valued at approximately $10,300,674.88. The disclosure for this sale can be found here. Insiders have sold 250,069 shares of company stock worth $3,528,245 in the last quarter. Company insiders own 29.12% of the company’s stock.

Hedge Funds Weigh In On Alphatec

Institutional investors have recently added to or reduced their stakes in the stock. First Light Asset Management LLC lifted its holdings in Alphatec by 97.0% during the fourth quarter. First Light Asset Management LLC now owns 5,976,851 shares of the medical technology company’s stock valued at $90,310,000 after purchasing an additional 2,943,310 shares during the last quarter. Cerity Partners LLC purchased a new stake in Alphatec during the fourth quarter valued at about $28,451,000. Millennium Management LLC lifted its holdings in Alphatec by 103.9% during the fourth quarter. Millennium Management LLC now owns 2,767,887 shares of the medical technology company’s stock valued at $34,183,000 after purchasing an additional 1,410,693 shares during the last quarter. Point72 Asset Management L.P. lifted its holdings in Alphatec by 83.2% during the fourth quarter. Point72 Asset Management L.P. now owns 2,996,794 shares of the medical technology company’s stock valued at $45,282,000 after purchasing an additional 1,361,126 shares during the last quarter. Finally, Artisan Partners Limited Partnership purchased a new stake in Alphatec during the fourth quarter valued at about $19,050,000. Institutional investors own 66.35% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on the stock. Needham & Company LLC upped their price objective on shares of Alphatec from $22.00 to $23.00 and gave the stock a “buy” rating in a report on Thursday, March 28th. Wells Fargo & Company assumed coverage on shares of Alphatec in a research note on Friday, February 9th. They issued an “overweight” rating and a $26.00 target price for the company. Canaccord Genuity Group reiterated a “buy” rating and issued a $25.00 target price on shares of Alphatec in a research note on Wednesday, March 20th. Finally, HC Wainwright reiterated a “buy” rating and issued a $20.00 target price on shares of Alphatec in a research note on Monday, March 4th. One research analyst has rated the stock with a sell rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Alphatec has an average rating of “Moderate Buy” and a consensus target price of $23.63.

Alphatec Stock Performance

ATEC traded down $0.20 during trading on Monday, hitting $13.10. 1,065,943 shares of the company traded hands, compared to its average volume of 1,640,833. The firm has a market cap of $1.81 billion, a P/E ratio of -8.45 and a beta of 1.55. The stock’s fifty day moving average is $14.27 and its 200 day moving average is $13.43. The company has a quick ratio of 1.99, a current ratio of 2.86 and a debt-to-equity ratio of 6.54. Alphatec has a one year low of $8.66 and a one year high of $19.14.

Alphatec (NASDAQ:ATEC) last posted its quarterly earnings results on Tuesday, February 27th. The medical technology company reported ($0.37) earnings per share for the quarter, missing the consensus estimate of ($0.28) by ($0.09). The company had revenue of $138.00 million for the quarter, compared to the consensus estimate of $131.90 million. The business’s revenue for the quarter was up 30.3% compared to the same quarter last year. During the same period in the prior year, the firm posted ($0.33) EPS. As a group, equities analysts predict that Alphatec will post -1.1 EPS for the current fiscal year.

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.