Alphatec (NASDAQ:ATEC) Stock Price Down 6.8% – What’s Next?

Shares of Alphatec Holdings, Inc. (NASDAQ:ATEC) traded down 6.8% during trading on Monday . The company traded as low as $7.01 and last traded at $7.0050. 1,741,342 shares traded hands during mid-day trading, a decline of 48% from the average session volume of 3,330,035 shares. The stock had previously closed at $7.52.

Analysts Set New Price Targets

A number of equities analysts have commented on the stock. Wells Fargo & Company cut their price target on shares of Alphatec from $28.00 to $14.00 and set an “overweight” rating for the company in a research note on Thursday. Wall Street Zen raised shares of Alphatec from a “hold” rating to a “buy” rating in a research note on Saturday, January 31st. Stifel Nicolaus cut their price target on shares of Alphatec from $24.00 to $20.00 and set a “buy” rating for the company in a research note on Monday, March 9th. Canaccord Genuity Group cut their price target on shares of Alphatec from $25.00 to $23.00 and set a “buy” rating for the company in a research note on Wednesday, May 6th. Finally, HC Wainwright reissued a “buy” rating and issued a $24.00 price target on shares of Alphatec in a research note on Thursday. Ten analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, Alphatec currently has an average rating of “Moderate Buy” and a consensus target price of $18.58.

Alphatec Stock Down 7.0%

The stock’s fifty day moving average is $11.48 and its 200 day moving average is $15.85. The company has a current ratio of 1.90, a quick ratio of 1.12 and a debt-to-equity ratio of 40.35. The company has a market capitalization of $1.07 billion, a P/E ratio of -8.52 and a beta of 0.96.

Alphatec (NASDAQ:ATEC) last posted its quarterly earnings results on Tuesday, May 5th. The medical technology company reported ($0.22) EPS for the quarter, missing analysts’ consensus estimates of ($0.01) by ($0.21). Alphatec had a negative net margin of 15.93% and a negative return on equity of 1,183.84%. The firm had revenue of $192.11 million for the quarter, compared to the consensus estimate of $197.51 million. During the same quarter in the prior year, the company earned ($0.35) earnings per share. The company’s quarterly revenue was up 13.6% compared to the same quarter last year. Research analysts predict that Alphatec Holdings, Inc. will post -0.28 EPS for the current fiscal year.

Insider Activity at Alphatec

In other Alphatec news, EVP David Sponsel sold 163,452 shares of the company’s stock in a transaction on Wednesday, March 11th. The shares were sold at an average price of $12.52, for a total value of $2,046,419.04. Following the completion of the transaction, the executive vice president directly owned 504,932 shares in the company, valued at approximately $6,321,748.64. This represents a 24.45% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, COO Scott Lish sold 260,535 shares of the company’s stock in a transaction on Friday, March 13th. The stock was sold at an average price of $12.30, for a total transaction of $3,204,580.50. Following the completion of the transaction, the chief operating officer owned 815,704 shares of the company’s stock, valued at $10,033,159.20. This trade represents a 24.21% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 629,189 shares of company stock valued at $7,801,589 over the last quarter. Company insiders own 13.48% of the company’s stock.

Institutional Trading of Alphatec

Hedge funds and other institutional investors have recently modified their holdings of the business. Aster Capital Management DIFC Ltd purchased a new stake in shares of Alphatec in the 3rd quarter worth about $34,000. Northwestern Mutual Wealth Management Co. grew its position in Alphatec by 157.1% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 2,571 shares of the medical technology company’s stock valued at $54,000 after purchasing an additional 1,571 shares during the last quarter. Summit Securities Group LLC purchased a new stake in Alphatec during the 1st quarter valued at about $29,000. Osterweis Capital Management Inc. purchased a new stake in Alphatec during the 2nd quarter valued at about $37,000. Finally, China Universal Asset Management Co. Ltd. purchased a new stake in Alphatec during the 3rd quarter valued at about $73,000. 66.35% of the stock is owned by hedge funds and other institutional investors.

Alphatec Company Profile

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.