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

Alphatec Holdings, Inc. (NASDAQ:ATEC) was the target of a significant increase in short interest in 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 daily trading volume, of 1,690,000 shares, the days-to-cover ratio is presently 7.3 days.

Wall Street Analyst Weigh In

ATEC has been the topic of a number of recent research reports. Canaccord Genuity Group reaffirmed a “buy” rating and set a $25.00 price objective on shares of Alphatec in a report on Wednesday, March 20th. HC Wainwright reaffirmed a “buy” rating and set a $20.00 price objective on shares of Alphatec in a report on Monday, March 4th. Needham & Company LLC lifted their price objective on Alphatec from $22.00 to $23.00 and gave the company a “buy” rating in a report on Thursday, March 28th. Finally, 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. One research analyst has rated the stock with a sell rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $23.63.

Alphatec Price Performance

ATEC stock traded down $0.07 during trading on Tuesday, hitting $13.03. The company had a trading volume of 342,059 shares, compared to its average volume of 1,622,488. The firm has a 50-day moving average price of $14.27 and a 200-day moving average price of $13.43. Alphatec has a 12 month low of $8.66 and a 12 month 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 announced its quarterly earnings results 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 firm had revenue of $138.00 million for the quarter, compared to the consensus estimate of $131.90 million. During the same period last year, the business earned ($0.33) earnings per share. The firm’s revenue for the quarter was up 30.3% compared to the same quarter last year. As a group, equities analysts predict that Alphatec will post -1.1 earnings per share for the current fiscal year.

Insider Buying and Selling

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

Hedge Funds Weigh In On Alphatec

Institutional investors and hedge funds have recently made changes to their positions in the company. BluePath Capital Management LLC acquired a new position in shares of Alphatec during the 3rd quarter worth about $29,000. Macquarie Group Ltd. acquired a new position in shares of Alphatec during the 1st quarter worth about $40,000. Lazard Asset Management LLC acquired a new position in shares of Alphatec during the 2nd quarter worth about $49,000. Comerica Bank acquired a new position in shares of Alphatec during the 3rd quarter worth about $36,000. Finally, State of Wyoming boosted its stake in shares of Alphatec by 59.1% during the 2nd quarter. State of Wyoming now owns 3,763 shares of the medical technology company’s stock worth $68,000 after buying an additional 1,398 shares during the last quarter. Institutional investors and hedge funds own 66.35% of the company’s stock.

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.