Key Points
- CEO Patrick Miles bought 115,000 Alphatec shares at an average price of $8.81, investing approximately $1.01 million and increasing his direct stake by 1.99% to 5.89 million shares.
- Alphatec shares opened at $8.84, down 1.6%, and remain well below their 52-week high of $23.29. The company reported quarterly revenue of $213.5 million, up 15.1% year over year, while analysts expect a full-year loss of $0.45 per share.
- Wall Street’s consensus view is “Moderate Buy”, with 13 Buy ratings, one Hold, and one Sell; the average price target is $17.40. Institutional investors own 66.35% of the company.
Alphatec Holdings, Inc. (NASDAQ:ATEC - Get Free Report) CEO Patrick Miles purchased 115,000 shares of the firm's stock in a transaction dated Thursday, September 10th. The shares were bought at an average cost of $8.81 per share, with a total value of $1,013,150.00. Following the purchase, the chief executive officer directly owned 5,893,551 shares of the company's stock, valued at approximately $51,922,184.31. This represents a 1.99% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at this hyperlink.
Alphatec Stock Down 1.6%
Shares of NASDAQ ATEC opened at $8.84 on Friday. Alphatec Holdings, Inc. has a 52-week low of $6.82 and a 52-week high of $23.29. The firm has a market capitalization of $1.37 billion, a price-to-earnings ratio of -12.45 and a beta of 0.85. The stock has a 50 day moving average price of $9.27 and a 200 day moving average price of $9.80. The company has a debt-to-equity ratio of 40.35, a quick ratio of 1.07 and a current ratio of 1.89.
Alphatec (NASDAQ:ATEC - Get Free Report) last released its quarterly earnings data on Tuesday, August 4th. The medical technology company reported $0.07 EPS for the quarter, hitting the consensus estimate of $0.07. The company had revenue of $213.51 million for the quarter, compared to the consensus estimate of $211.26 million. Alphatec had a negative return on equity of 6,752.24% and a negative net margin of 13.49%.Alphatec's quarterly revenue was up 15.1% on a year-over-year basis. During the same period last year, the business posted $0.02 EPS. Sell-side analysts expect that Alphatec Holdings, Inc. will post -0.45 earnings per share for the current year.
Institutional Investors Weigh In On Alphatec
A number of institutional investors have recently added to or reduced their stakes in the stock. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in Alphatec by 4.5% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 74,005 shares of the medical technology company's stock worth $750,000 after purchasing an additional 3,196 shares in the last quarter. Dynamic Technology Lab Private Ltd bought a new stake in shares of Alphatec in the 1st quarter valued at about $257,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its holdings in shares of Alphatec by 18.4% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 265,907 shares of the medical technology company's stock valued at $2,696,000 after buying an additional 41,264 shares in the last quarter. Quantbot Technologies LP purchased a new position in shares of Alphatec in the 2nd quarter worth approximately $242,000. Finally, Invesco Ltd. grew its position in shares of Alphatec by 455.0% in the 2nd quarter. Invesco Ltd. now owns 282,212 shares of the medical technology company's stock worth $3,133,000 after buying an additional 231,367 shares during the last quarter. Institutional investors own 66.35% of the company's stock.
Wall Street Analysts Forecast Growth
A number of research firms recently weighed in on ATEC. UBS Group upped their price objective on shares of Alphatec from $15.00 to $16.00 and gave the stock a "buy" rating in a research note on Wednesday, August 5th. TD Cowen boosted their price target on shares of Alphatec from $11.00 to $13.00 and gave the company a "buy" rating in a report on Wednesday, August 5th. Stifel Nicolaus lowered their price target on shares of Alphatec from $16.00 to $13.00 and set a "buy" rating for the company in a research report on Wednesday, July 8th. BMO Capital Markets increased their price objective on shares of Alphatec from $11.00 to $12.00 and gave the company an "outperform" rating in a research note on Wednesday, August 5th. Finally, Weiss Ratings reissued a "sell (d-)" rating on shares of Alphatec in a report on Monday, August 3rd. Thirteen equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat, Alphatec presently has an average rating of "Moderate Buy" and an average target price of $17.40.
View Our Latest Stock Analysis on ATEC
Alphatec Company Profile
(
Get Free Report)
Alphatec Holdings, Inc (NASDAQ: ATEC) is a medical technology company focused on the design, development and commercialization of products for the surgical correction of degenerative spinal conditions. The company's portfolio centers on interbody implants, biologics, fixation devices and surgical planning tools intended to improve patient outcomes in spinal fusion procedures. Alphatec's flagship offerings include customizable interbody cages, bone graft materials and specialized instrumentation designed for minimally invasive and open spinal surgeries.
Founded as Alphatec Spine in 1985 and rebranded as Alphatec Holdings in 2018, the company has grown from a single-product organization into a multi-platform innovator in the spine market.
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