Alphatec Holdings, Inc. (NASDAQ:ATEC) Short Interest Up 6.3% in June

Alphatec Holdings, Inc. (NASDAQ:ATEC) saw a significant growth in short interest in the month of June. As of June 15th, there was short interest totalling 12,450,000 shares, a growth of 6.3% from the May 31st total of 11,710,000 shares. Based on an average trading volume of 1,620,000 shares, the days-to-cover ratio is presently 7.7 days.

Insider Activity

In related news, General Counsel Tyson Eliot Marshall sold 50,232 shares of the business’s stock in a transaction on Wednesday, June 12th. The shares were sold at an average price of $10.88, for a total transaction of $546,524.16. Following the transaction, the general counsel now owns 245,638 shares of the company’s stock, valued at $2,672,541.44. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, General Counsel Tyson Eliot Marshall sold 50,232 shares of Alphatec stock in a transaction dated Wednesday, June 12th. The stock was sold at an average price of $10.88, for a total transaction of $546,524.16. Following the sale, the general counsel now directly owns 245,638 shares of the company’s stock, valued at $2,672,541.44. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CFO John Todd Koning sold 37,500 shares of the business’s stock in a transaction dated Wednesday, April 24th. The shares were sold at an average price of $12.82, for a total value of $480,750.00. Following the transaction, the chief financial officer now owns 393,356 shares in the company, valued at $5,042,823.92. The disclosure for this sale can be found here. 22.80% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the business. First Light Asset Management LLC increased its position in Alphatec by 97.0% in the 4th 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 acquiring an additional 2,943,310 shares in the last quarter. Vanguard Group Inc. raised its position in Alphatec by 1.2% in the 1st quarter. Vanguard Group Inc. now owns 5,458,847 shares of the medical technology company’s stock worth $75,278,000 after purchasing an additional 64,648 shares during the last quarter. American Century Companies Inc. lifted its holdings in Alphatec by 24.5% during the 3rd quarter. American Century Companies Inc. now owns 2,655,328 shares of the medical technology company’s stock worth $34,440,000 after buying an additional 523,323 shares in the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. boosted its position in Alphatec by 48.1% in the 1st quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 2,125,042 shares of the medical technology company’s stock valued at $29,305,000 after buying an additional 690,022 shares during the last quarter. Finally, Cerity Partners LLC acquired a new stake in shares of Alphatec in the 4th quarter valued at $28,451,000. 66.35% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several brokerages have issued reports on ATEC. Piper Sandler lowered their price target on shares of Alphatec from $19.00 to $17.00 and set an “overweight” rating on the stock in a report on Wednesday, May 8th. Canaccord Genuity Group reissued a “buy” rating and issued a $25.00 price target on shares of Alphatec in a research report on Wednesday, March 20th. Finally, Needham & Company LLC restated a “buy” rating and set a $23.00 price target on shares of Alphatec in a research note on Wednesday, May 8th. One research analyst has rated the stock with a sell rating and eight have issued a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $21.75.

Alphatec Stock Performance

NASDAQ ATEC opened at $9.90 on Wednesday. Alphatec has a 1-year low of $8.66 and a 1-year high of $19.14. The company has a 50 day moving average of $10.94 and a 200-day moving average of $13.29. The company has a current ratio of 2.39, a quick ratio of 1.49 and a debt-to-equity ratio of 13.63. The firm has a market cap of $1.38 billion, a price-to-earnings ratio of -6.64 and a beta of 1.40.

Alphatec (NASDAQ:ATEC) last released its quarterly earnings results on Tuesday, May 7th. The medical technology company reported ($0.34) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.33) by ($0.01). The business had revenue of $138.48 million for the quarter, compared to analyst estimates 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% on a year-over-year basis. During the same period in the prior year, the business earned ($0.40) earnings per share. On average, equities analysts forecast that Alphatec will post -1.04 earnings per share 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.