Alphatec (NASDAQ:ATEC) Shares Down 3.7%

Alphatec Holdings, Inc. (NASDAQ:ATEC) shares dropped 3.7% on Monday . The company traded as low as $13.04 and last traded at $13.14. Approximately 420,553 shares traded hands during trading, a decline of 73% from the average daily volume of 1,578,474 shares. The stock had previously closed at $13.65.

Wall Street Analyst Weigh In

ATEC has been the subject of a number of recent analyst reports. Wells Fargo & Company initiated coverage on shares of Alphatec in a report on Friday, February 9th. They set an “overweight” rating and a $26.00 price target for the company. Canaccord Genuity Group reaffirmed a “buy” rating and set a $25.00 price target on shares of Alphatec in a report on Wednesday, March 20th. Needham & Company LLC raised their price objective on shares of Alphatec from $22.00 to $23.00 and gave the stock a “buy” rating in a report on Thursday, March 28th. Finally, HC Wainwright reissued a “buy” rating and set a $20.00 price objective on shares of Alphatec in a report on Monday, March 4th. One investment analyst has rated the stock with a sell rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Alphatec currently has an average rating of “Moderate Buy” and an average price target of $23.63.

Alphatec Price Performance

The company’s fifty day moving average price is $13.39 and its 200 day moving average price is $13.54. The company has a debt-to-equity ratio of 6.54, a quick ratio of 1.99 and a current ratio of 2.86. The firm has a market capitalization of $1.86 billion, a price-to-earnings ratio of -8.57 and a beta of 1.48.

Alphatec (NASDAQ:ATEC) last posted its quarterly earnings results on Tuesday, February 27th. The medical technology company reported ($0.37) EPS for the quarter, missing the consensus estimate of ($0.28) by ($0.09). The firm had revenue of $138.00 million for the quarter, compared to analyst estimates of $131.90 million. During the same period in the previous year, the business earned ($0.33) earnings per share. The business’s revenue for the quarter was up 30.3% on a year-over-year basis. Equities research analysts expect that Alphatec Holdings, Inc. will post -1.1 earnings per share for the current year.

Insider Activity at Alphatec

In related news, EVP David Sponsel sold 2,500 shares of Alphatec stock in a transaction dated Wednesday, February 14th. The shares were sold at an average price of $16.16, for a total value of $40,400.00. Following the sale, the executive vice president now directly owns 637,418 shares in the company, valued at approximately $10,300,674.88. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. In related news, EVP David Sponsel sold 2,500 shares of Alphatec stock in a transaction dated Wednesday, February 14th. The shares were sold at an average price of $16.16, for a total value of $40,400.00. Following the sale, the executive vice president now directly owns 637,418 shares in the company, valued at approximately $10,300,674.88. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CFO John Todd Koning sold 121,601 shares of Alphatec stock in a transaction dated Friday, March 1st. The shares were sold at an average price of $13.30, for a total transaction of $1,617,293.30. Following the completion of the sale, the chief financial officer now owns 430,856 shares in the company, valued at $5,730,384.80. The disclosure for this sale can be found here. Insiders have sold a total of 285,069 shares of company stock worth $3,971,495 in the last ninety days. 29.12% of the stock is owned by insiders.

Institutional Trading of Alphatec

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. First Light Asset Management LLC raised its position in shares of Alphatec by 97.0% during the 4th quarter. First Light Asset Management LLC now owns 5,976,851 shares of the medical technology company’s stock worth $90,310,000 after buying an additional 2,943,310 shares in the last quarter. Vanguard Group Inc. raised its position in shares of Alphatec by 1.8% during the 3rd quarter. Vanguard Group Inc. now owns 4,615,223 shares of the medical technology company’s stock worth $59,859,000 after buying an additional 80,101 shares in the last quarter. American Century Companies Inc. raised its position in shares of Alphatec by 24.5% during the 3rd quarter. American Century Companies Inc. now owns 2,655,328 shares of the medical technology company’s stock worth $34,440,000 after buying an additional 523,323 shares in the last quarter. Fred Alger Management LLC raised its position in shares of Alphatec by 48.9% during the 3rd quarter. Fred Alger Management LLC now owns 2,336,718 shares of the medical technology company’s stock worth $30,307,000 after buying an additional 767,280 shares in the last quarter. Finally, Cerity Partners LLC bought a new stake in shares of Alphatec during the 4th quarter worth about $28,451,000. 66.35% of the stock is currently owned by institutional investors.

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.