Alphatec (ATEC) Downgraded by Zacks Investment Research

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Alphatec (NASDAQ:ATEC) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research note issued on Friday.

According to Zacks, “Alphatec Holdings, Inc. is a medical technology company focused on the design, development, manufacturing and marketing of products for the surgical treatment of spine disorders. The Company’s principal product offering includes a variety of spinal implant products and systems consisted of components, such as spine screws and rods, spinal spacers, plates, and various biologics offerings. Alphatec Holdings, Inc. is headquartered in Carlsbad, California. “

Other research analysts also recently issued research reports about the company. HC Wainwright restated a “buy” rating and set a $4.00 price target on shares of Alphatec in a research note on Monday, January 14th. ValuEngine upgraded Alphatec from a “sell” rating to a “hold” rating in a research note on Wednesday, January 2nd.

Shares of ATEC traded up $0.02 during mid-day trading on Friday, reaching $2.92. The company’s stock had a trading volume of 260,805 shares, compared to its average volume of 571,671. Alphatec has a 12-month low of $1.18 and a 12-month high of $4.21. The company has a market cap of $109.33 million, a P/E ratio of -5.03 and a beta of 1.14. The company has a debt-to-equity ratio of 1.42, a quick ratio of 1.48 and a current ratio of 2.36.

Alphatec (NASDAQ:ATEC) last released its quarterly earnings results on Thursday, March 7th. The medical technology company reported ($0.15) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.12) by ($0.03). The firm had revenue of $25.34 million for the quarter. Alphatec had a negative return on equity of 85.82% and a negative net margin of 31.60%. As a group, analysts predict that Alphatec will post -0.45 earnings per share for the current fiscal year.

In other news, Director Evan Bakst purchased 20,566 shares of the company’s stock in a transaction that occurred on Monday, March 11th. The shares were purchased at an average price of $2.59 per share, for a total transaction of $53,265.94. Following the purchase, the director now directly owns 726,912 shares of the company’s stock, valued at approximately $1,882,702.08. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Kelli Mari Howell purchased 100,000 shares of the company’s stock in a transaction that occurred on Monday, March 11th. The shares were purchased at an average price of $2.59 per share, for a total transaction of $259,000.00. The disclosure for this purchase can be found here. Company insiders own 44.40% of the company’s stock.

Large investors have recently added to or reduced their stakes in the stock. Dimensional Fund Advisors LP grew its stake in shares of Alphatec by 8.8% in the 4th quarter. Dimensional Fund Advisors LP now owns 95,662 shares of the medical technology company’s stock valued at $219,000 after purchasing an additional 7,705 shares during the last quarter. Raymond James Financial Services Advisors Inc. grew its stake in shares of Alphatec by 49.2% in the 4th quarter. Raymond James Financial Services Advisors Inc. now owns 29,063 shares of the medical technology company’s stock valued at $67,000 after purchasing an additional 9,579 shares during the last quarter. Beacon Pointe Wealth Advisors LLC purchased a new position in shares of Alphatec in the 4th quarter valued at approximately $36,000. Royce & Associates LP grew its stake in shares of Alphatec by 124.8% in the 4th quarter. Royce & Associates LP now owns 35,000 shares of the medical technology company’s stock valued at $80,000 after purchasing an additional 19,432 shares during the last quarter. Finally, Suntrust Banks Inc. purchased a new position in shares of Alphatec in the 4th quarter valued at approximately $58,000. Hedge funds and other institutional investors own 18.57% of the company’s stock.

About Alphatec

Alphatec Holdings, Inc, a medical technology company, focuses on the design, development, and promotion of products for the surgical treatment of spine disorders. Its product portfolio and pipeline address the cervical, thoracolumbar, and intervertebral regions of the spine; and cover various spinal disorders and surgical procedures.

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