Alphatec (NASDAQ:ATEC) Stock Price Down 6.3% – What’s Next?

Alphatec Holdings, Inc. (NASDAQ:ATEC)’s share price fell 6.3% during trading on Tuesday . The company traded as low as $8.65 and last traded at $8.9050. 1,159,712 shares were traded during trading, a decline of 65% from the average daily volume of 3,280,078 shares. The stock had previously closed at $9.50.

Analyst Upgrades and Downgrades

Several research firms have weighed in on ATEC. Barclays cut their target price on Alphatec from $27.00 to $24.00 and set an “overweight” rating on the stock in a research note on Thursday, May 7th. Lake Street Capital reissued a “buy” rating and set a $15.00 price objective on shares of Alphatec in a research note on Wednesday, May 6th. Stifel Nicolaus decreased their price objective on shares of Alphatec from $24.00 to $20.00 and set a “buy” rating for the company in a report on Monday, March 9th. JPMorgan Chase & Co. cut their target price on shares of Alphatec from $24.00 to $16.00 and set an “overweight” rating on the stock in a report on Wednesday, May 6th. Finally, Wells Fargo & Company reduced their price target on shares of Alphatec from $28.00 to $14.00 and set an “overweight” rating on the stock in a research report on Thursday, May 7th. Ten analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, Alphatec currently has an average rating of “Moderate Buy” and a consensus target price of $18.58.

Alphatec Trading Down 7.3%

The company has a current ratio of 1.90, a quick ratio of 1.12 and a debt-to-equity ratio of 40.35. The firm has a market capitalization of $1.35 billion, a P/E ratio of -10.74 and a beta of 0.88. The business has a 50 day moving average of $8.59 and a 200-day moving average of $12.89.

Insider Activity at Alphatec

In related news, Director Karen K. Mcginnis sold 6,050 shares of the firm’s stock in a transaction on Thursday, June 11th. The shares were sold at an average price of $8.01, for a total transaction of $48,460.50. Following the sale, the director directly owned 94,671 shares in the company, valued at $758,314.71. This trade represents a 6.01% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. 13.48% of the stock is currently owned by insiders.

Institutional Trading of Alphatec

Several hedge funds and other institutional investors have recently modified their holdings of the company. Vanguard Group Inc. boosted its position in shares of Alphatec by 1.0% during the fourth quarter. Vanguard Group Inc. now owns 6,883,626 shares of the medical technology company’s stock worth $144,831,000 after buying an additional 68,568 shares during the period. American Century Companies Inc. raised its position in Alphatec by 2.6% in the 3rd quarter. American Century Companies Inc. now owns 6,336,491 shares of the medical technology company’s stock valued at $92,133,000 after buying an additional 159,330 shares during the last quarter. Morgan Stanley lifted its stake in Alphatec by 22.0% in the 4th quarter. Morgan Stanley now owns 4,340,936 shares of the medical technology company’s stock valued at $91,333,000 after acquiring an additional 784,191 shares in the last quarter. State Street Corp boosted its position in Alphatec by 6.4% during the 4th quarter. State Street Corp now owns 2,889,240 shares of the medical technology company’s stock worth $60,790,000 after acquiring an additional 174,287 shares during the last quarter. Finally, Geode Capital Management LLC boosted its position in Alphatec by 1.2% during the 4th quarter. Geode Capital Management LLC now owns 2,828,026 shares of the medical technology company’s stock worth $59,511,000 after acquiring an additional 32,465 shares during the last quarter. Institutional investors and hedge funds own 66.35% of the company’s stock.

About Alphatec

Alphatec Holdings, Inc (NASDAQ: ATEC) is a medical technology company focused on the design, development and commercialization of products for the surgical correction of degenerative spinal conditions. The company’s portfolio centers on interbody implants, biologics, fixation devices and surgical planning tools intended to improve patient outcomes in spinal fusion procedures. Alphatec’s flagship offerings include customizable interbody cages, bone graft materials and specialized instrumentation designed for minimally invasive and open spinal surgeries.

Founded as Alphatec Spine in 1985 and rebranded as Alphatec Holdings in 2018, the company has grown from a single-product organization into a multi-platform innovator in the spine market.