Alphatec (NASDAQ:ATEC) Shares Down 10.4% – Time to Sell?

Alphatec Holdings, Inc. (NASDAQ:ATEC) shares traded down 10.4% during mid-day trading on Tuesday . The stock traded as low as $10.13 and last traded at $11.00. 556,575 shares changed hands during trading, a decline of 71% from the average session volume of 1,910,448 shares. The stock had previously closed at $12.27.

Wall Street Analyst Weigh In

ATEC has been the topic of several research analyst reports. StockNews.com upgraded shares of Alphatec from a “sell” rating to a “hold” rating in a research note on Friday. Barclays lifted their price objective on shares of Alphatec from $20.00 to $21.00 and gave the stock an “overweight” rating in a research note on Wednesday, January 22nd. HC Wainwright reiterated a “buy” rating and issued a $20.00 price target on shares of Alphatec in a report on Tuesday, January 14th. Needham & Company LLC restated a “buy” rating and issued a $16.00 price target on shares of Alphatec in a report on Thursday, February 27th. Finally, Piper Sandler raised their target price on shares of Alphatec from $12.00 to $13.00 and gave the stock an “overweight” rating in a research 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. According to MarketBeat.com, Alphatec presently has an average rating of “Moderate Buy” and a consensus price target of $17.67.

Alphatec Stock Performance

The firm has a 50 day moving average price of $10.76 and a 200-day moving average price of $8.49. The company has a debt-to-equity ratio of 30.21, a current ratio of 2.32 and a quick ratio of 1.15. The firm has a market capitalization of $1.70 billion, a price-to-earnings ratio of -9.22 and a beta of 1.43.

Alphatec (NASDAQ:ATEC) last issued its quarterly earnings results on Wednesday, February 26th. The medical technology company reported ($0.23) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.19) by ($0.04). The business had revenue of $176.79 million for the quarter, compared to analyst estimates of $172.74 million. Alphatec had a negative return on equity of 541.39% and a negative net margin of 31.06%. As a group, sell-side analysts expect that Alphatec Holdings, Inc. will post -1.08 earnings per share for the current fiscal year.

Insider Activity at Alphatec

In other news, EVP David Sponsel sold 58,283 shares of the firm’s stock in a transaction on Monday, January 13th. The stock was sold at an average price of $10.71, for a total transaction of $624,210.93. Following the transaction, the executive vice president now directly owns 502,311 shares of the company’s stock, valued at approximately $5,379,750.81. This trade represents a 10.40 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, COO Scott Lish sold 27,453 shares of Alphatec stock in a transaction on Thursday, February 6th. The shares were sold at an average price of $11.49, for a total value of $315,434.97. Following the transaction, the chief operating officer now owns 867,677 shares in the company, valued at approximately $9,969,608.73. This trade represents a 3.07 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 290,898 shares of company stock valued at $3,327,710. Corporate 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 modified their holdings of the stock. Royal Bank of Canada increased its holdings in Alphatec by 171.2% in the fourth quarter. Royal Bank of Canada now owns 3,185,283 shares of the medical technology company’s stock worth $29,240,000 after buying an additional 2,010,806 shares during the last quarter. American Century Companies Inc. lifted its holdings in shares of Alphatec by 36.5% during the 4th quarter. American Century Companies Inc. now owns 4,989,057 shares of the medical technology company’s stock worth $45,800,000 after acquiring an additional 1,334,780 shares during the period. Nuveen Asset Management LLC boosted its holdings in Alphatec by 78.4% during the fourth quarter. Nuveen Asset Management LLC now owns 2,584,996 shares of the medical technology company’s stock valued at $23,730,000 after purchasing an additional 1,136,330 shares in the last quarter. Marshall Wace LLP boosted its stake in Alphatec by 139.2% in the 4th quarter. Marshall Wace LLP now owns 1,773,246 shares of the medical technology company’s stock valued at $16,278,000 after buying an additional 1,032,070 shares in the last quarter. Finally, Emerald Advisers LLC raised its stake in Alphatec by 112.4% during the fourth quarter. Emerald Advisers LLC now owns 1,456,033 shares of the medical technology company’s stock worth $13,366,000 after acquiring an additional 770,586 shares in the last quarter. Institutional investors and hedge funds 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.