Alphatec (NASDAQ:ATEC) Stock Price Down 3.3%

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

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on ATEC shares. Piper Sandler reduced their price target on shares of Alphatec from $17.00 to $12.00 and set an “overweight” rating on the stock in a research note on Thursday, August 1st. Wells Fargo & Company cut their target price on shares of Alphatec from $26.00 to $19.00 and set an “overweight” rating on the stock in a research report on Thursday, August 1st. Canaccord Genuity Group reiterated a “buy” rating and issued a $20.00 price target on shares of Alphatec in a research note on Friday, August 30th. Needham & Company LLC reduced their price objective on Alphatec from $23.00 to $13.00 and set a “buy” rating on the stock in a research report on Thursday, August 22nd. Finally, Morgan Stanley cut Alphatec from an “overweight” rating to an “equal weight” rating in a report on Thursday, August 1st. One analyst has rated the stock with a sell rating, one has given a hold rating and nine have given a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $17.50.

Alphatec Stock Down 5.8 %

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

Alphatec (NASDAQ:ATEC) last released its quarterly earnings results on Wednesday, July 31st. The medical technology company reported ($0.29) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.26) by ($0.03). Alphatec had a negative return on equity of 816.57% and a negative net margin of 33.48%. The firm had revenue of $145.57 million for the quarter, compared to the consensus estimate of $144.55 million. During the same quarter in the previous year, the business posted ($0.43) EPS. The firm’s revenue for the quarter was up 24.5% compared to the same quarter last year. On average, research analysts predict 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 acquired 50,000 shares of the company’s stock in a transaction dated Wednesday, August 21st. The shares were bought at an average cost of $5.67 per share, with a total value of $283,500.00. Following the purchase, the director now directly owns 288,441 shares of the company’s stock, valued at $1,635,460.47. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 22.80% of the company’s stock.

Institutional Trading of Alphatec

Several hedge funds have recently modified their holdings of ATEC. Comerica Bank grew its holdings in Alphatec by 64.8% in the first quarter. Comerica Bank now owns 6,443 shares of the medical technology company’s stock worth $89,000 after purchasing an additional 2,534 shares during the period. Van ECK Associates Corp increased its position 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 valued at $128,000 after buying an additional 1,300 shares in the last quarter. EntryPoint Capital LLC acquired a new position in Alphatec during the 1st quarter worth approximately $141,000. SG Americas Securities LLC grew its stake in Alphatec by 44.6% in the second quarter. SG Americas Securities LLC now owns 14,495 shares of the medical technology company’s stock valued at $151,000 after acquiring an additional 4,472 shares during the period. Finally, Cetera Advisors LLC grew its stake in Alphatec by 15.6% in 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 period. Institutional investors own 66.35% of the company’s stock.

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.