Alphatec (NASDAQ:ATEC) Reaches New 1-Year Low at $5.21

Alphatec Holdings, Inc. (NASDAQ:ATEC) reached a new 52-week low during trading on Tuesday . The company 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

Several research firms have issued reports on ATEC. Stifel Nicolaus dropped their price objective on Alphatec from $19.00 to $16.00 and set a “buy” rating on the stock in a research note on Thursday, August 1st. Piper Sandler lowered their target price on Alphatec from $17.00 to $12.00 and set an “overweight” rating on the stock in a research note on Thursday, August 1st. Canaccord Genuity Group reaffirmed a “buy” rating and issued a $20.00 price objective on shares of Alphatec in a report on Friday, August 30th. Morgan Stanley lowered Alphatec from an “overweight” rating to an “equal weight” rating in a research note on Thursday, August 1st. Finally, Barclays started coverage on shares of Alphatec in a research report on Monday, July 8th. They set an “overweight” rating and a $19.00 price objective for the company. One investment 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 data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $17.50.

Alphatec Stock Performance

The firm has a market capitalization of $741.39 million, a P/E ratio of -3.56 and a beta of 1.40. The stock has a fifty day simple moving average of $6.71 and a two-hundred day simple moving average of $9.94. The company has a debt-to-equity ratio of 30.21, a current ratio of 2.22 and a quick ratio of 1.21.

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

Insider Activity

In other Alphatec news, Director David M. Demski bought 50,000 shares of the business’s stock in a transaction dated Wednesday, August 21st. The shares were purchased at an average price of $5.67 per share, for a total transaction 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 acquisition was disclosed in a legal filing with the SEC, which is available through this link. Corporate insiders own 22.80% of the company’s stock.

Hedge Funds Weigh In On Alphatec

A number of large investors have recently modified their holdings of the company. Creative Planning increased its holdings in Alphatec by 112.7% during the 2nd quarter. Creative Planning now owns 26,440 shares of the medical technology company’s stock valued at $276,000 after purchasing an additional 14,007 shares during the period. Lighthouse Investment Partners LLC increased its position in Alphatec by 257.5% during the 2nd quarter. Lighthouse Investment Partners LLC now owns 208,594 shares of the medical technology company’s stock valued at $2,180,000 after purchasing an additional 150,244 shares during the period. The Manufacturers Life Insurance Company raised its holdings in Alphatec by 8.9% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 58,257 shares of the medical technology company’s stock worth $609,000 after purchasing an additional 4,755 shares in the last quarter. Marathon Capital Management bought a new stake in shares of Alphatec during the 2nd quarter valued at about $2,800,000. Finally, AQR Capital Management LLC increased its position in shares of Alphatec by 129.1% during the second quarter. AQR Capital Management LLC now owns 283,254 shares of the medical technology company’s stock valued at $2,960,000 after buying an additional 159,600 shares during the period. 66.35% of the stock is currently owned by institutional investors.

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.