Alphatec (NASDAQ:ATEC) Trading Down 8.1% – Here’s What Happened

Shares of Alphatec Holdings, Inc. (NASDAQ:ATEC) traded down 8.1% during trading on Wednesday . The company traded as low as $9.26 and last traded at $9.5160. Approximately 1,758,778 shares traded hands during trading, a decline of 44% from the average daily volume of 3,139,033 shares. The stock had previously closed at $10.35.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on the stock. Piper Sandler reiterated an “overweight” rating and issued a $14.00 price target (down from $25.00) on shares of Alphatec in a research note on Wednesday, May 6th. Barclays dropped their price objective on shares of Alphatec from $27.00 to $24.00 and set an “overweight” rating on the stock in a research note on Thursday, May 7th. Stephens assumed coverage on shares of Alphatec in a report on Thursday, July 23rd. They issued an “overweight” rating and a $15.00 price objective on the stock. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Alphatec in a research note on Monday. Finally, Lake Street Capital reiterated a “buy” rating and set a $15.00 target price on shares of Alphatec in a report on Wednesday, May 6th. 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 company. According to data from MarketBeat, Alphatec presently has an average rating of “Moderate Buy” and a consensus target price of $17.40.

Alphatec Trading Up 1.1%

The company has a current ratio of 1.89, a quick ratio of 1.12 and a debt-to-equity ratio of 40.35. The company has a market cap of $1.44 billion, a P/E ratio of -13.11 and a beta of 0.85. The stock’s 50 day moving average is $8.76 and its 200-day moving average is $10.71.

Alphatec (NASDAQ:ATEC) last announced its quarterly earnings results on Tuesday, August 4th. The medical technology company reported $0.07 earnings per share for the quarter, meeting the consensus estimate of $0.07. The company had revenue of $213.51 million during the quarter, compared to the consensus estimate of $211.26 million. Alphatec had a negative net margin of 13.49% and a negative return on equity of 6,752.24%. The firm’s quarterly revenue was up 15.1% compared to the same quarter last year. During the same quarter last year, the firm earned $0.02 earnings per share. Research analysts anticipate that Alphatec Holdings, Inc. will post -0.44 earnings per share for the current fiscal year.

Insider Transactions at Alphatec

In other news, Director Karen K. Mcginnis sold 6,050 shares of the firm’s stock in a transaction dated Thursday, June 11th. The shares were sold at an average price of $8.01, for a total transaction of $48,460.50. Following the sale, the director owned 94,671 shares of the company’s stock, valued at $758,314.71. This trade represents a 6.01% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. 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. Corporate insiders own 13.48% of the company’s stock.

Institutional Investors Weigh In On Alphatec

A number of large investors have recently added to or reduced their stakes in ATEC. Creative Planning boosted its position in shares of Alphatec by 0.9% during the 3rd quarter. Creative Planning now owns 58,654 shares of the medical technology company’s stock valued at $853,000 after acquiring an additional 534 shares during the last quarter. Great Lakes Advisors LLC increased its position 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 worth $5,864,000 after purchasing an additional 1,226 shares during the last quarter. Franklin Resources Inc. raised its stake in Alphatec by 2.0% during the fourth quarter. Franklin Resources Inc. now owns 64,774 shares of the medical technology company’s stock valued at $1,363,000 after purchasing an additional 1,299 shares in the last quarter. Oppenheimer Asset Management Inc. raised its stake in Alphatec by 9.9% during the fourth quarter. Oppenheimer Asset Management Inc. now owns 15,075 shares of the medical technology company’s stock valued at $317,000 after purchasing an additional 1,353 shares in the last quarter. Finally, Northwestern Mutual Wealth Management Co. lifted its position in Alphatec by 157.1% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 2,571 shares of the medical technology company’s stock valued at $54,000 after purchasing an additional 1,571 shares during the last quarter. Institutional investors own 66.35% of the company’s stock.

About Alphatec

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.