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

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

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on the stock. TD Cowen dropped their price target on shares of Alphatec from $20.00 to $11.00 and set a “buy” rating on the stock in a research report on Wednesday, May 6th. Wall Street Zen raised shares of Alphatec from a “hold” rating to a “buy” rating in a research report on Saturday, January 31st. JPMorgan Chase & Co. dropped their price target on shares of Alphatec from $24.00 to $16.00 and set an “overweight” rating on the stock in a research report on Wednesday, May 6th. Lake Street Capital reissued a “buy” rating and set a $15.00 price target on shares of Alphatec in a research report on Wednesday, May 6th. Finally, Piper Sandler reissued an “overweight” rating and set a $14.00 price target (down from $25.00) on shares of Alphatec in a research report on Wednesday, May 6th. Ten research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, Alphatec presently has a consensus rating of “Moderate Buy” and a consensus target price of $18.58.

Alphatec Trading Down 7.0%

The firm’s 50-day moving average price is $11.48 and its 200-day moving average price is $15.85. The company has a quick ratio of 1.12, a current ratio of 1.90 and a debt-to-equity ratio of 40.35. The company has a market cap 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) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.01) by ($0.21). The business had revenue of $192.11 million during the quarter, compared to the consensus estimate of $197.51 million. Alphatec had a negative net margin of 15.93% and a negative return on equity of 1,183.84%. The business’s revenue for the quarter was up 13.6% on a year-over-year basis. During the same period last year, the firm earned ($0.35) EPS. As a group, equities research analysts expect that Alphatec Holdings, Inc. will post -0.28 earnings per share for the current fiscal year.

Insider Activity

In related news, General Counsel Tyson Eliot Marshall sold 88,835 shares of the business’s stock in a transaction that occurred on Thursday, March 5th. The shares were sold at an average price of $12.49, for a total transaction of $1,109,549.15. Following the completion of the transaction, the general counsel owned 559,459 shares of the company’s stock, valued at approximately $6,987,642.91. The trade was a 13.70% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Craig E. Hunsaker sold 82,765 shares of the business’s stock in a transaction that occurred on Monday, March 9th. The shares were sold at an average price of $12.45, for a total transaction of $1,030,424.25. Following the transaction, the executive vice president directly owned 1,726,209 shares of the company’s stock, valued at approximately $21,491,302.05. This represents a 4.58% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 629,189 shares of company stock worth $7,801,589 in the last three months. Insiders own 13.48% of the company’s stock.

Hedge Funds Weigh In On Alphatec

Hedge funds have recently bought and sold shares of the company. Summit Securities Group LLC purchased a new position in Alphatec during the first quarter valued at approximately $29,000. Aster Capital Management DIFC Ltd purchased a new position in Alphatec during the third quarter valued at approximately $34,000. Osterweis Capital Management Inc. purchased a new position in Alphatec during the second quarter valued at approximately $37,000. Northwestern Mutual Wealth Management Co. grew its stake in Alphatec by 157.1% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 2,571 shares of the medical technology company’s stock valued at $54,000 after acquiring an additional 1,571 shares in the last quarter. Finally, China Universal Asset Management Co. Ltd. purchased a new position in Alphatec in the 3rd quarter worth approximately $73,000. Hedge funds and other institutional investors own 66.35% of the company’s stock.

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.