Alphatec (NASDAQ:ATEC) Sets New 12-Month Low – Time to Sell?

Alphatec Holdings, Inc. (NASDAQ:ATEC) shares reached a new 52-week low on Thursday . The company traded as low as $10.09 and last traded at $10.1360, with a volume of 848643 shares traded. The stock had previously closed at $10.62.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on the stock. TD Cowen reaffirmed a “buy” rating on shares of Alphatec in a research note on Tuesday, January 27th. Lake Street Capital reaffirmed a “buy” rating on shares of Alphatec in a research report on Wednesday, February 25th. HC Wainwright reiterated a “buy” rating and issued a $24.00 price target on shares of Alphatec in a research report on Monday, January 12th. Wall Street Zen raised Alphatec from a “hold” rating to a “buy” rating in a research note on Saturday, January 31st. Finally, Piper Sandler reaffirmed an “overweight” rating on shares of Alphatec in a research note on Wednesday, February 25th. One research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating, one has given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $22.82.

Alphatec Price Performance

The firm has a market cap of $1.55 billion, a P/E ratio of -10.72 and a beta of 1.12. The company has a quick ratio of 1.28, a current ratio of 2.06 and a debt-to-equity ratio of 40.35. The business’s 50 day moving average is $12.19 and its two-hundred day moving average is $16.11.

Alphatec (NASDAQ:ATEC) last issued its quarterly earnings results on Tuesday, February 24th. The medical technology company reported $0.06 EPS for the quarter, beating analysts’ consensus estimates of $0.04 by $0.02. The firm had revenue of $212.93 million for the quarter, compared to the consensus estimate of $212.67 million. During the same period last year, the company posted ($0.23) EPS. The business’s revenue was up 20.4% compared to the same quarter last year. As a group, analysts anticipate that Alphatec Holdings, Inc. will post -0.28 earnings per share for the current year.

Insider Buying and Selling

In other news, General Counsel Tyson Eliot Marshall sold 88,835 shares of the firm’s stock in a transaction that occurred on Thursday, March 5th. The stock was sold at an average price of $12.49, for a total value of $1,109,549.15. Following the transaction, the general counsel owned 559,459 shares in the company, valued at $6,987,642.91. This trade represents a 13.70% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, COO Scott Lish sold 260,535 shares of the company’s stock in a transaction on Friday, March 13th. The stock was sold at an average price of $12.30, for a total value of $3,204,580.50. Following the sale, the chief operating officer owned 815,704 shares of the company’s stock, valued at $10,033,159.20. This trade represents a 24.21% decrease in their position. The SEC filing for this sale provides additional information. In the last ninety days, insiders sold 726,972 shares of company stock valued at $9,184,386. 20.90% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the company. Vanguard Group Inc. grew its holdings in shares of Alphatec by 2.4% in the third quarter. Vanguard Group Inc. now owns 6,815,058 shares of the medical technology company’s stock valued at $99,091,000 after acquiring an additional 158,295 shares in the last quarter. Tudor Investment Corp ET AL boosted its stake in Alphatec by 608.4% in the third quarter. Tudor Investment Corp ET AL now owns 900,491 shares of the medical technology company’s stock worth $13,093,000 after buying an additional 773,367 shares in the last quarter. Lisanti Capital Growth LLC purchased a new stake in Alphatec in the third quarter worth approximately $3,305,000. SG Americas Securities LLC bought a new position in Alphatec during the third quarter valued at approximately $1,115,000. Finally, Y Intercept Hong Kong Ltd purchased a new position in shares of Alphatec during the third quarter worth approximately $1,688,000. 66.35% of the stock is owned by institutional investors.

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.