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

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

Analyst Upgrades and Downgrades

Several equities research analysts have commented on the stock. TD Cowen boosted their price target on shares of Alphatec from $11.00 to $13.00 and gave the stock a “buy” rating in a research report on Wednesday, August 5th. Stephens initiated coverage on shares of Alphatec in a report on Thursday, July 23rd. They set an “overweight” rating and a $15.00 target price on the stock. Wall Street Zen cut shares of Alphatec from a “buy” rating to a “hold” rating in a research note on Sunday, July 12th. Weiss Ratings restated a “sell (d-)” rating on shares of Alphatec in a research note on Monday, August 3rd. Finally, Stifel Nicolaus dropped their target price on shares of Alphatec from $16.00 to $13.00 and set a “buy” rating on the stock in a report on Wednesday, July 8th. Thirteen 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. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $17.40.

Alphatec Stock Performance

The firm has a market cap of $1.56 billion, a price-to-earnings ratio of -14.20 and a beta of 0.85. The company has a current ratio of 1.89, a quick ratio of 1.07 and a debt-to-equity ratio of 40.35. The stock’s 50 day moving average is $9.39 and its 200 day moving average is $9.72.

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

Insider Buying and Selling at Alphatec

In other news, CEO Patrick Miles purchased 115,000 shares of Alphatec stock in a transaction that occurred on Thursday, September 10th. The stock was acquired at an average cost of $8.81 per share, for a total transaction of $1,013,150.00. Following the purchase, the chief executive officer directly owned 5,893,551 shares of the company’s stock, valued at $51,922,184.31. This trade represents a 1.99% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, General Counsel Tyson Marshall sold 8,168 shares of the company’s stock in a transaction 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 completion of the transaction, the general counsel directly owned 630,398 shares in the company, valued at approximately $6,083,340.70. This represents a 1.28% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 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. Insiders own 13.48% of the company’s stock.

Institutional Trading of Alphatec

Several hedge funds and other institutional investors have recently bought and sold shares of the business. ProShare Advisors LLC increased its stake in shares of Alphatec by 8.2% during the 4th quarter. ProShare Advisors LLC now owns 21,470 shares of the medical technology company’s stock worth $452,000 after purchasing an additional 1,633 shares during the last quarter. Rhenman & Partners Asset Management AB grew its holdings in Alphatec by 11.1% during the fourth quarter. Rhenman & Partners Asset Management AB now owns 20,000 shares of the medical technology company’s stock valued at $421,000 after purchasing an additional 2,000 shares during the period. Diversified Trust Co grew its holdings in Alphatec by 17.6% during the first quarter. Diversified Trust Co now owns 14,876 shares of the medical technology company’s stock valued at $162,000 after purchasing an additional 2,227 shares during the period. Intech Investment Management LLC increased its position in Alphatec by 4.2% in the fourth quarter. Intech Investment Management LLC now owns 57,096 shares of the medical technology company’s stock worth $1,201,000 after buying an additional 2,314 shares during the last quarter. Finally, SG Americas Securities LLC raised its stake in shares of Alphatec by 4.2% in the first quarter. SG Americas Securities LLC now owns 67,065 shares of the medical technology company’s stock valued at $730,000 after buying an additional 2,675 shares during the period. Institutional investors and hedge funds own 66.35% of the company’s stock.

About Alphatec

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.