Alphatec (NASDAQ:ATEC) Sets New 12-Month Low – What’s Next?

Shares of Alphatec Holdings, Inc. (NASDAQ:ATEC) reached a new 52-week low on Wednesday . The company traded as low as $9.15 and last traded at $9.35, with a volume of 4916032 shares traded. The stock had previously closed at $10.36.

Analysts Set New Price Targets

A number of analysts have recently issued reports on ATEC shares. Piper Sandler reissued an “overweight” rating on shares of Alphatec in a research note on Wednesday, February 25th. Stifel Nicolaus decreased their price objective on shares of Alphatec from $24.00 to $20.00 and set a “buy” rating for the company in a report on Monday, March 9th. Wells Fargo & Company raised shares of Alphatec to a “strong-buy” rating in a research report on Wednesday, March 18th. HC Wainwright restated a “buy” rating and issued a $24.00 target price on shares of Alphatec in a research note on Monday, January 12th. Finally, Lake Street Capital reaffirmed a “buy” rating on shares of Alphatec in a research report on Wednesday, February 25th. One research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $22.82.

Alphatec Stock Up 4.9%

The company has a debt-to-equity ratio of 40.35, a current ratio of 2.06 and a quick ratio of 1.28. The business’s fifty day moving average price is $11.78 and its two-hundred day moving average price is $15.95. The stock has a market capitalization of $1.48 billion, a PE ratio of -10.27 and a beta of 1.12.

Alphatec (NASDAQ:ATEC) last issued its earnings results on Tuesday, February 24th. The medical technology company reported $0.06 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.04 by $0.02. The firm had revenue of $212.93 million during the quarter, compared to analysts’ expectations of $212.67 million. The business’s revenue was up 20.4% on a year-over-year basis. During the same quarter last year, the business earned ($0.23) EPS. On average, equities research analysts forecast that Alphatec Holdings, Inc. will post -0.28 EPS for the current fiscal year.

Insider Transactions at Alphatec

In related news, COO Scott Lish sold 260,535 shares of Alphatec stock in a transaction dated Friday, March 13th. The stock was sold at an average price of $12.30, for a total transaction of $3,204,580.50. Following the completion of the sale, the chief operating officer owned 815,704 shares of the company’s stock, valued at $10,033,159.20. The trade was a 24.21% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP David Sponsel sold 163,452 shares of the stock in a transaction that occurred on Wednesday, March 11th. The stock was sold at an average price of $12.52, for a total transaction of $2,046,419.04. Following the completion of the transaction, the executive vice president owned 504,932 shares in the company, valued at approximately $6,321,748.64. This trade represents a 24.45% decrease in their position. The SEC filing for this sale provides additional information. In the last ninety days, insiders have sold 726,972 shares of company stock valued at $9,184,386. 20.90% of the stock is owned by company insiders.

Institutional Trading of Alphatec

Hedge funds and other institutional investors have recently made changes to their positions in the business. Creative Planning boosted its stake in shares of Alphatec by 0.9% in the third quarter. Creative Planning now owns 58,654 shares of the medical technology company’s stock worth $853,000 after buying an additional 534 shares during the last quarter. Valeo Financial Advisors LLC raised its position in Alphatec by 2.1% during the third quarter. Valeo Financial Advisors LLC now owns 41,296 shares of the medical technology company’s stock valued at $600,000 after acquiring an additional 846 shares in the last quarter. Arizona State Retirement System raised its position in Alphatec by 2.8% during the third quarter. Arizona State Retirement System now owns 34,603 shares of the medical technology company’s stock valued at $503,000 after acquiring an additional 949 shares in the last quarter. Great Lakes Advisors LLC lifted its holdings in Alphatec by 0.4% in the fourth quarter. Great Lakes Advisors LLC now owns 278,717 shares of the medical technology company’s stock valued at $5,864,000 after acquiring an additional 1,226 shares during the period. Finally, Franklin Resources Inc. lifted its holdings in Alphatec by 2.0% in the fourth quarter. Franklin Resources Inc. now owns 64,774 shares of the medical technology company’s stock valued at $1,363,000 after acquiring an additional 1,299 shares during the period. Institutional investors and hedge funds 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.