Alphatec (NASDAQ:ATEC) Trading Down 5%

Alphatec Holdings, Inc. (NASDAQ:ATEC)’s share price was down 5% on Friday . The company traded as low as $10.85 and last traded at $10.86. Approximately 480,963 shares changed hands during mid-day trading, a decline of 72% from the average daily volume of 1,692,864 shares. The stock had previously closed at $11.43.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on ATEC shares. Piper Sandler cut their target price on Alphatec from $19.00 to $17.00 and set an “overweight” rating on the stock in a research report on Wednesday, May 8th. Wells Fargo & Company began coverage on shares of Alphatec in a research report on Friday, February 9th. They set an “overweight” rating and a $26.00 price objective for the company. Needham & Company LLC reissued a “buy” rating and issued a $23.00 price target on shares of Alphatec in a research report on Wednesday, May 8th. HC Wainwright reaffirmed a “buy” rating and set a $20.00 price objective on shares of Alphatec in a report on Monday, March 4th. Finally, Canaccord Genuity Group reissued a “buy” rating and issued a $25.00 target price on shares of Alphatec in a report on Wednesday, March 20th. One analyst has rated the stock with a sell rating and eight have issued a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $22.89.

Alphatec Trading Down 3.3 %

The company has a quick ratio of 1.49, a current ratio of 2.39 and a debt-to-equity ratio of 13.63. The firm has a 50 day simple moving average of $13.02 and a two-hundred day simple moving average of $13.54.

Alphatec (NASDAQ:ATEC) last posted its quarterly earnings data on Tuesday, May 7th. The medical technology company reported ($0.34) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.33) by ($0.01). Alphatec had a negative return on equity of 1,767.81% and a negative net margin of 37.45%. The business had revenue of $138.48 million for the quarter, compared to analyst estimates of $134.07 million. During the same quarter last year, the business earned ($0.40) EPS. Alphatec’s revenue for the quarter was up 26.9% compared to the same quarter last year. On average, equities analysts expect that Alphatec Holdings, Inc. will post -1.05 EPS for the current year.

Insiders Place Their Bets

In other Alphatec news, CFO John Todd Koning sold 37,500 shares of the business’s stock in a transaction dated Wednesday, April 24th. The stock was sold at an average price of $12.82, for a total transaction of $480,750.00. Following the completion of the sale, the chief financial officer now owns 393,356 shares of the company’s stock, valued at $5,042,823.92. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In other news, General Counsel Tyson Eliot Marshall sold 11,825 shares of Alphatec stock in a transaction that occurred on Friday, March 1st. The shares were sold at an average price of $13.30, for a total transaction of $157,272.50. Following the sale, the general counsel now owns 305,095 shares in the company, valued at $4,057,763.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO John Todd Koning sold 37,500 shares of Alphatec stock in a transaction dated Wednesday, April 24th. The stock was sold at an average price of $12.82, for a total value of $480,750.00. Following the sale, the chief financial officer now directly owns 393,356 shares in the company, valued at $5,042,823.92. The disclosure for this sale can be found here. Insiders have sold a total of 282,569 shares of company stock valued at $3,931,095 over the last quarter. Company insiders own 29.12% of the company’s stock.

Hedge Funds Weigh In On Alphatec

Institutional investors have recently made changes to their positions in the business. RiverPark Advisors LLC acquired a new stake in Alphatec in the third quarter valued at $53,000. Provence Wealth Management Group acquired a new stake in shares of Alphatec during the 3rd quarter valued at approximately $56,000. Comerica Bank raised its position in shares of Alphatec by 64.8% during the 1st quarter. Comerica Bank now owns 6,443 shares of the medical technology company’s stock valued at $89,000 after acquiring an additional 2,534 shares in the last quarter. Van ECK Associates Corp bought a new position in Alphatec during the third quarter worth $113,000. Finally, Tidemark LLC acquired a new position in Alphatec in the fourth quarter worth $137,000. 66.35% of the stock is owned by institutional investors and hedge funds.

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.