Alphatec (NASDAQ:ATEC) Shares Down 3.2% – What’s Next?

Shares of Alphatec Holdings, Inc. (NASDAQ:ATEC) traded down 3.2% during mid-day trading on Thursday . The company traded as low as $10.21 and last traded at $10.1650. Approximately 256,963 shares traded hands during mid-day trading, a decline of 91% from the average session volume of 2,968,533 shares. The stock had previously closed at $10.50.

Analyst Ratings Changes

Several brokerages have weighed in on ATEC. TD Cowen lifted their target price on Alphatec from $11.00 to $13.00 and gave the company a “buy” rating in a research note on Wednesday, August 5th. Wall Street Zen lowered Alphatec from a “buy” rating to a “hold” rating in a report on Sunday, July 12th. BMO Capital Markets lifted their price objective on shares of Alphatec from $11.00 to $12.00 and gave the company an “outperform” rating in a research note on Wednesday, August 5th. Stifel Nicolaus reduced their price objective on shares of Alphatec from $16.00 to $13.00 and set a “buy” rating for the company in a report on Wednesday, July 8th. Finally, Stephens began coverage on shares of Alphatec in a research report on Thursday, July 23rd. They issued an “overweight” rating and a $15.00 target price for the company. Thirteen investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, Alphatec currently has an average rating of “Moderate Buy” and an average price target of $17.40.

Alphatec Trading Down 1.0%

The stock has a market capitalization of $1.57 billion, a P/E ratio of -14.34 and a beta of 0.85. The business has a 50 day simple moving average of $9.41 and a 200-day simple moving average of $9.70. The company has a debt-to-equity ratio of 40.35, a quick ratio of 1.07 and a current ratio of 1.89.

Alphatec (NASDAQ:ATEC) last posted its quarterly earnings data on Tuesday, August 4th. The medical technology company reported $0.07 EPS for the quarter, hitting analysts’ consensus estimates of $0.07. Alphatec had a negative return on equity of 6,752.24% and a negative net margin of 13.49%.The company had revenue of $213.51 million for the quarter, compared to the consensus estimate of $211.26 million. During the same quarter in the previous year, the business earned $0.02 EPS. The company’s quarterly revenue was up 15.1% compared to the same quarter last year. On average, analysts predict that Alphatec Holdings, Inc. will post -0.45 EPS for the current year.

Insider Transactions at Alphatec

In other news, General Counsel Tyson Marshall sold 8,168 shares of Alphatec stock in a transaction that occurred on Wednesday, August 5th. The shares were sold at an average price of $9.65, for a total value of $78,821.20. Following the transaction, the general counsel owned 630,398 shares of the company’s stock, valued at $6,083,340.70. The trade was a 1.28% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CEO Patrick Miles bought 115,000 shares of the company’s stock in a transaction that occurred on Thursday, September 10th. The stock was acquired at an average price of $8.81 per share, for a total transaction of $1,013,150.00. Following the completion of the acquisition, the chief executive officer directly owned 5,893,551 shares in the company, valued at approximately $51,922,184.31. This represents a 1.99% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. 13.48% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. Integrated Wealth Concepts LLC acquired a new stake in shares of Alphatec during the 2nd quarter valued at $52,000. Allworth Financial LP grew its holdings in shares of Alphatec by 82.6% in the 2nd quarter. Allworth Financial LP now owns 6,666 shares of the medical technology company’s stock worth $58,000 after acquiring an additional 3,015 shares during the last quarter. VIRGINIA RETIREMENT SYSTEMS ET Al acquired a new stake in shares of Alphatec during the second quarter worth $218,000. FirstWave Capital Management LLC acquired a new stake in shares of Alphatec during the second quarter worth $1,244,000. Finally, Paradigm Capital Management Inc. NY purchased a new stake in shares of Alphatec during the second quarter valued at $9,413,000. Institutional investors and hedge funds own 66.35% of the company’s stock.

Alphatec Company Profile

Alphatec Holdings, Inc (NASDAQ: ATEC) is a medical technology company focused on improving the surgical treatment of spinal disorders. The company develops and commercializes products designed to support spine surgery, including implants, biologics, surgical instruments and related technologies.

Its portfolio is intended for procedures addressing conditions such as spinal deformities, degenerative disc disease and other disorders affecting the spine. Alphatec emphasizes surgeon-focused solutions and integrated technologies that support preoperative planning, intraoperative decision-making and the placement of spinal implants.

Headquartered in Carlsbad, California, Alphatec serves hospitals, surgeons and other healthcare providers in the United States and select international markets.