Alphatec (NASDAQ:ATEC) Trading Down 6.6%

Alphatec Holdings, Inc. (NASDAQ:ATEC)’s stock price traded down 6.6% during trading on Monday . The stock traded as low as $10.11 and last traded at $10.19. 759,816 shares traded hands during trading, a decline of 52% from the average session volume of 1,577,822 shares. The stock had previously closed at $10.91.

Analysts Set New Price Targets

Several analysts recently issued reports on the company. Piper Sandler cut their target price on Alphatec from $19.00 to $17.00 and set an “overweight” rating on the stock in a research note on Wednesday, May 8th. Needham & Company LLC reissued a “buy” rating and set a $23.00 target price on shares of Alphatec in a research note on Wednesday, May 8th. Morgan Stanley dropped their price target on Alphatec from $19.00 to $16.00 and set an “overweight” rating for the company in a research note on Monday, July 15th. Stifel Nicolaus reduced their price objective on shares of Alphatec from $24.00 to $19.00 and set a “buy” rating on the stock in a research report on Thursday, July 11th. Finally, Canaccord Genuity Group reaffirmed a “buy” rating and issued a $25.00 target price on shares of Alphatec in a research report on Thursday. One equities research analyst has rated the stock with a sell rating and nine have given a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $20.78.

Alphatec Trading Down 8.3 %

The company has a market cap of $1.40 billion, a P/E ratio of -6.89 and a beta of 1.40. 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 stock’s 50 day moving average is $10.50 and its 200-day moving average is $12.80.

Alphatec (NASDAQ:ATEC) last posted its quarterly earnings results on Tuesday, May 7th. The medical technology company reported ($0.34) EPS for the quarter, missing analysts’ consensus estimates of ($0.33) by ($0.01). Alphatec had a negative net margin of 37.45% and a negative return on equity of 1,767.81%. The firm had revenue of $138.48 million for the quarter, compared to analysts’ expectations of $134.07 million. During the same quarter in the previous year, the company earned ($0.40) EPS. The company’s quarterly revenue was up 26.9% compared to the same quarter last year. Research analysts anticipate that Alphatec Holdings, Inc. will post -1.04 earnings per share for the current fiscal year.

Insider Activity

In related news, General Counsel Tyson Eliot Marshall sold 50,232 shares of the business’s stock in a transaction that occurred on Wednesday, June 12th. The stock was sold at an average price of $10.88, for a total value of $546,524.16. Following the transaction, the general counsel now directly owns 245,638 shares of the company’s stock, valued at approximately $2,672,541.44. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Company insiders own 22.80% of the company’s stock.

Institutional Investors Weigh In On Alphatec

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Vanguard Group Inc. raised its stake in shares of Alphatec by 1.8% during the third quarter. Vanguard Group Inc. now owns 4,615,223 shares of the medical technology company’s stock valued at $59,859,000 after acquiring an additional 80,101 shares in the last quarter. SG Americas Securities LLC bought a new position in shares of Alphatec during the 4th quarter worth $316,000. Raymond James & Associates increased its stake in shares of Alphatec by 26.3% during the fourth quarter. Raymond James & Associates now owns 14,287 shares of the medical technology company’s stock valued at $216,000 after buying an additional 2,975 shares during the period. Raymond James Financial Services Advisors Inc. purchased a new stake in Alphatec in the fourth quarter worth about $202,000. Finally, Perkins Capital Management Inc. grew its holdings in Alphatec by 7.3% during the 4th quarter. Perkins Capital Management Inc. now owns 184,867 shares of the medical technology company’s stock worth $2,793,000 after acquiring an additional 12,550 shares in the last quarter. Institutional investors own 66.35% of the company’s stock.

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.