Alphatec (NASDAQ:ATEC) Shares Gap Down – Here’s Why

Alphatec Holdings, Inc. (NASDAQ:ATEC) shares gapped down prior to trading on Thursday . The stock had previously closed at $11.44, but opened at $10.66. Alphatec shares last traded at $10.96, with a volume of 694,934 shares traded.

Analyst Upgrades and Downgrades

ATEC has been the subject of several recent analyst reports. Barclays raised their price objective on shares of Alphatec from $20.00 to $21.00 and gave the stock an “overweight” rating in a report on Wednesday, January 22nd. StockNews.com raised shares of Alphatec from a “sell” rating to a “hold” rating in a research note on Friday, February 28th. Needham & Company LLC restated a “buy” rating and issued a $16.00 price objective on shares of Alphatec in a research report on Thursday, February 27th. HC Wainwright reaffirmed a “buy” rating and set a $20.00 price target on shares of Alphatec in a research note on Tuesday, January 14th. Finally, Piper Sandler boosted their price objective on Alphatec from $12.00 to $13.00 and gave the stock an “overweight” rating in a report on Thursday, February 27th. Two analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $17.67.

Alphatec Price Performance

The company has a quick ratio of 1.15, a current ratio of 2.32 and a debt-to-equity ratio of 30.21. The company has a market capitalization of $1.57 billion, a P/E ratio of -8.49 and a beta of 1.43. The business’s 50-day moving average is $10.86 and its two-hundred day moving average is $8.55.

Alphatec (NASDAQ:ATEC) last posted its quarterly earnings data on Wednesday, February 26th. The medical technology company reported ($0.23) EPS for the quarter, missing the consensus estimate of ($0.19) by ($0.04). The firm had revenue of $176.79 million during the quarter, compared to analysts’ expectations of $172.74 million. Alphatec had a negative net margin of 31.06% and a negative return on equity of 541.39%. As a group, analysts predict that Alphatec Holdings, Inc. will post -1.08 earnings per share for the current year.

Insider Buying and Selling

In other Alphatec news, CEO Patrick Miles sold 6,687 shares of the company’s stock in a transaction on Tuesday, January 21st. The shares were sold at an average price of $12.00, for a total value of $80,244.00. Following the completion of the transaction, the chief executive officer now directly owns 5,501,715 shares in the company, valued at approximately $66,020,580. This represents a 0.12 % 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, EVP David Sponsel sold 58,283 shares of Alphatec stock in a transaction that occurred on Monday, January 13th. The shares were sold at an average price of $10.71, for a total value of $624,210.93. Following the sale, the executive vice president now owns 502,311 shares in the company, valued at $5,379,750.81. This represents a 10.40 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 290,898 shares of company stock worth $3,327,710. Corporate insiders own 22.80% of the company’s stock.

Hedge Funds Weigh In On Alphatec

Hedge funds have recently added to or reduced their stakes in the company. Creative Planning boosted its stake in shares of Alphatec by 83.9% in the 3rd quarter. Creative Planning now owns 48,611 shares of the medical technology company’s stock worth $270,000 after buying an additional 22,171 shares during the last quarter. Stephens Inc. AR boosted its position in Alphatec by 51.4% in the third quarter. Stephens Inc. AR now owns 21,743 shares of the medical technology company’s stock worth $121,000 after purchasing an additional 7,382 shares during the last quarter. Van ECK Associates Corp boosted its position in Alphatec by 57.0% in the third quarter. Van ECK Associates Corp now owns 19,273 shares of the medical technology company’s stock worth $99,000 after purchasing an additional 6,998 shares during the last quarter. Atria Investments Inc grew its stake in shares of Alphatec by 8.0% during the 3rd quarter. Atria Investments Inc now owns 19,609 shares of the medical technology company’s stock valued at $109,000 after purchasing an additional 1,460 shares during the period. Finally, Entropy Technologies LP increased its position in shares of Alphatec by 14.9% during the 3rd quarter. Entropy Technologies LP now owns 21,623 shares of the medical technology company’s stock valued at $120,000 after purchasing an additional 2,800 shares during the last quarter. 66.35% of the stock is currently owned by hedge funds and other institutional investors.

About Alphatec

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.