Alphatec (NASDAQ:ATEC) Stock Price Down 3.3%

Shares of Alphatec Holdings, Inc. (NASDAQ:ATEC) fell 3.3% during trading on Monday . The stock traded as low as $5.78 and last traded at $5.83. 75,956 shares traded hands during mid-day trading, a decline of 96% from the average session volume of 1,860,186 shares. The stock had previously closed at $6.03.

Analyst Upgrades and Downgrades

ATEC has been the topic of several analyst reports. Morgan Stanley cut shares of Alphatec from an “overweight” rating to an “equal weight” rating in a report on Thursday, August 1st. HC Wainwright reissued a “buy” rating and issued a $20.00 price objective on shares of Alphatec in a research report on Thursday, August 1st. Wells Fargo & Company decreased their target price on Alphatec from $26.00 to $19.00 and set an “overweight” rating for the company in a research report on Thursday, August 1st. Lake Street Capital lowered their target price on Alphatec from $32.00 to $18.00 and set a “buy” rating on the stock in a research note on Tuesday, September 3rd. Finally, Piper Sandler reduced their price target on shares of Alphatec from $17.00 to $12.00 and set an “overweight” rating for the company in a research report on Thursday, August 1st. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and nine have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $17.50.

Alphatec Price Performance

The business’s 50-day moving average price is $7.40 and its 200 day moving average price is $10.27. The company has a market capitalization of $794.54 million, a P/E ratio of -3.71 and a beta of 1.40. The company has a quick ratio of 1.21, a current ratio of 2.22 and a debt-to-equity ratio of 30.21.

Alphatec (NASDAQ:ATEC) last announced its quarterly earnings results on Wednesday, July 31st. The medical technology company reported ($0.29) EPS for the quarter, missing the consensus estimate of ($0.26) by ($0.03). The firm had revenue of $145.57 million during the quarter, compared to the consensus estimate 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 revenue for the quarter was up 24.5% on a year-over-year basis. During the same period in the previous year, the business earned ($0.43) earnings per share. Analysts anticipate that Alphatec Holdings, Inc. will post -1.08 EPS for the current fiscal year.

Insiders Place Their Bets

In other Alphatec news, Director David M. Demski purchased 50,000 shares of the company’s stock in a transaction dated Wednesday, August 21st. The stock was purchased at an average price of $5.67 per share, for a total transaction of $283,500.00. Following the transaction, the director now owns 288,441 shares in the company, valued at approximately $1,635,460.47. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Corporate insiders own 22.80% of the company’s stock.

Institutional Investors Weigh In On Alphatec

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Van ECK Associates Corp raised its position in shares of Alphatec by 11.8% during the 2nd quarter. Van ECK Associates Corp now owns 12,275 shares of the medical technology company’s stock valued at $128,000 after buying an additional 1,300 shares in the last quarter. ProShare Advisors LLC lifted its position in Alphatec by 8.5% in the 1st quarter. ProShare Advisors LLC now owns 16,572 shares of the medical technology company’s stock worth $229,000 after buying an additional 1,304 shares during the last quarter. Bayesian Capital Management LP boosted its stake in Alphatec by 5.6% in the first quarter. Bayesian Capital Management LP now owns 27,000 shares of the medical technology company’s stock worth $372,000 after buying an additional 1,442 shares in the last quarter. Cetera Advisors LLC grew its position in Alphatec by 15.6% during the first 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, Valeo Financial Advisors LLC raised its stake in shares of Alphatec by 10.5% during the first quarter. Valeo Financial Advisors LLC now owns 21,025 shares of the medical technology company’s stock worth $268,000 after acquiring an additional 2,000 shares in the last quarter. 66.35% of the stock is owned by hedge funds and other 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.