Alphatec (NASDAQ:ATEC) Reaches New 12-Month Low at $5.21

Alphatec Holdings, Inc. (NASDAQ:ATEC)’s share price reached a new 52-week low on Tuesday . The stock traded as low as $5.21 and last traded at $5.24, with a volume of 474777 shares traded. The stock had previously closed at $5.56.

Analyst Upgrades and Downgrades

ATEC has been the topic of several analyst reports. Wells Fargo & Company dropped their target price on Alphatec from $26.00 to $19.00 and set an “overweight” rating on the stock in a report on Thursday, August 1st. Morgan Stanley lowered shares of Alphatec from an “overweight” rating to an “equal weight” rating in a research note on Thursday, August 1st. Barclays started coverage on Alphatec in a research note on Monday, July 8th. They issued an “overweight” rating and a $19.00 price objective for the company. Canaccord Genuity Group reissued a “buy” rating and set a $20.00 price objective on shares of Alphatec in a research note on Friday, August 30th. Finally, HC Wainwright reiterated a “buy” rating and set a $20.00 price target on shares of Alphatec in a report on Thursday, August 1st. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $17.50.

Alphatec Stock Performance

The company has a debt-to-equity ratio of 30.21, a quick ratio of 1.21 and a current ratio of 2.22. The stock has a market capitalization of $741.39 million, a PE ratio of -3.56 and a beta of 1.40. The firm’s 50 day moving average is $6.71 and its two-hundred day moving average is $9.94.

Alphatec (NASDAQ:ATEC) last posted its quarterly earnings results on Wednesday, July 31st. The medical technology company reported ($0.29) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.26) by ($0.03). The business had revenue of $145.57 million during the quarter, compared to analyst estimates of $144.55 million. Alphatec had a negative net margin of 33.48% and a negative return on equity of 816.57%. The firm’s quarterly revenue was up 24.5% on a year-over-year basis. During the same quarter in the prior year, the business earned ($0.43) earnings per share. As a group, research analysts predict that Alphatec Holdings, Inc. will post -1.08 earnings per share for the current year.

Insider Buying and Selling

In other news, Director David M. Demski bought 50,000 shares of the stock in a transaction dated Wednesday, August 21st. The shares were acquired at an average price of $5.67 per share, with a total value of $283,500.00. Following the completion of the acquisition, the director now directly owns 288,441 shares in the company, valued at $1,635,460.47. The acquisition was disclosed in a filing with the SEC, which can be accessed through the SEC website. 22.80% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Alphatec

Institutional investors have recently modified their holdings of the company. Comerica Bank increased its position in Alphatec by 64.8% during the first quarter. Comerica Bank now owns 6,443 shares of the medical technology company’s stock worth $89,000 after buying an additional 2,534 shares in the last quarter. EntryPoint Capital LLC purchased a new position in shares of Alphatec during the first quarter valued at approximately $141,000. Van ECK Associates Corp grew its stake in Alphatec by 11.8% in the 2nd quarter. Van ECK Associates Corp now owns 12,275 shares of the medical technology company’s stock worth $128,000 after acquiring an additional 1,300 shares during the period. Cetera Advisors LLC raised its holdings in Alphatec by 15.6% in the 1st quarter. Cetera Advisors LLC now owns 12,720 shares of the medical technology company’s stock valued at $175,000 after acquiring an additional 1,720 shares during the last quarter. Finally, Focus Financial Network Inc. ADV acquired a new stake in shares of Alphatec during the fourth quarter worth $207,000. Hedge funds and other institutional investors own 66.35% of the company’s stock.

Alphatec Company Profile

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.