Alphatec Holdings, Inc. (NASDAQ:ATEC) Short Interest Update

Alphatec Holdings, Inc. (NASDAQ:ATEC) was the target of a large increase in short interest during the month of March. As of March 31st, there was short interest totalling 12,360,000 shares, an increase 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 days-to-cover ratio is currently 7.3 days.

Insider Activity

In other news, General Counsel Tyson Eliot Marshall sold 11,825 shares of the stock in a transaction dated Friday, March 1st. The stock was sold at an average price of $13.30, for a total value of $157,272.50. Following the transaction, the general counsel now owns 305,095 shares in the company, valued at approximately $4,057,763.50. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In related news, General Counsel Tyson Eliot Marshall sold 11,825 shares of the firm’s stock in a transaction that occurred on Friday, March 1st. The stock was 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 approximately $4,057,763.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Evan Bakst purchased 15,000 shares of the company’s stock in a transaction that occurred on Thursday, March 14th. The shares were purchased at an average price of $13.53 per share, for a total transaction of $202,950.00. Following the purchase, the director now directly owns 15,000 shares in the company, valued at $202,950. The disclosure for this purchase can be found here. In the last 90 days, insiders have sold 247,569 shares of company stock worth $3,490,745. 29.12% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Alphatec

Several hedge funds and other institutional investors have recently bought and sold shares of ATEC. Amalgamated Bank increased its position in Alphatec by 7.3% during the fourth quarter. Amalgamated Bank now owns 9,720 shares of the medical technology company’s stock worth $147,000 after buying an additional 660 shares in the last quarter. Price T Rowe Associates Inc. MD increased its stake in Alphatec by 6.4% in the first quarter. Price T Rowe Associates Inc. MD now owns 13,654 shares of the medical technology company’s stock valued at $214,000 after purchasing an additional 826 shares during the last quarter. Credit Suisse AG increased its stake in Alphatec by 1.0% in the second quarter. Credit Suisse AG now owns 88,894 shares of the medical technology company’s stock valued at $1,598,000 after purchasing an additional 855 shares during the last quarter. Valeo Financial Advisors LLC increased its stake in Alphatec by 5.0% in the fourth quarter. Valeo Financial Advisors LLC now owns 19,025 shares of the medical technology company’s stock valued at $287,000 after purchasing an additional 900 shares during the last quarter. Finally, RiverPark Advisors LLC increased its stake in Alphatec by 22.6% in the fourth quarter. RiverPark Advisors LLC now owns 5,033 shares of the medical technology company’s stock valued at $76,000 after purchasing an additional 928 shares during the last quarter. 66.35% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

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

Alphatec Price Performance

ATEC stock traded down $0.07 during midday trading on Tuesday, hitting $13.03. 342,059 shares of the stock were exchanged, compared to its average volume of 1,622,488. The stock’s 50-day moving average price is $14.27 and its 200-day moving average price is $13.43. Alphatec has a fifty-two week low of $8.66 and a fifty-two week high of $19.14. The company has a debt-to-equity ratio of 6.54, a quick ratio of 1.99 and a current ratio of 2.86.

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

Alphatec Company Profile

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.