Alphatec (NASDAQ:ATEC) Trading Down 5.7% – Here’s Why

by · The Cerbat Gem

Alphatec Holdings, Inc. (NASDAQ:ATEC – Get Free Report)’s share price traded down 5.7% during trading on Tuesday . The company traded as low as $16.53 and last traded at $16.5820. 1,421,106 shares were traded during mid-day trading, a decline of 60% from the average session volume of 3,559,850 shares. The stock had previously closed at $17.59.

Trending Headlines about Alphatec

Here are the key news stories impacting Alphatec this week:

Analysts Set New Price Targets

A number of analysts recently issued reports on ATEC shares. Loop Capital set a $25.00 target price on shares of Alphatec in a research report on Wednesday, December 10th. Wells Fargo & Company boosted their price objective on shares of Alphatec from $14.00 to $16.00 and gave the stock an “overweight” rating in a research note on Thursday, October 16th. JPMorgan Chase & Co. started coverage on shares of Alphatec in a research report on Friday, October 24th. They issued an “overweight” rating and a $19.00 price objective for the company. Piper Sandler reissued an “overweight” rating and issued a $25.00 target price (up previously from $20.00) on shares of Alphatec in a research note on Friday, October 31st. Finally, Stifel Nicolaus began coverage on shares of Alphatec in a report on Tuesday, October 28th. They set a “buy” rating and a $20.00 target price on the stock. Nine investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $22.82.

Check Out Our Latest Report on ATEC

Alphatec Stock Performance

The company has a debt-to-equity ratio of 43.02, a quick ratio of 1.24 and a current ratio of 1.99. The company has a market capitalization of $2.46 billion, a PE ratio of -15.89 and a beta of 1.01. The company has a 50 day moving average price of $20.70 and a 200 day moving average price of $16.46.

Alphatec (NASDAQ:ATEC – Get Free Report) last announced its quarterly earnings data on Thursday, October 30th. The medical technology company reported $0.03 earnings per share for the quarter, beating the consensus estimate of ($0.06) by $0.09. The firm had revenue of $196.50 million during the quarter, compared to the consensus estimate of $182.78 million. The firm’s quarterly revenue was up 30.4% compared to the same quarter last year. During the same period in the prior year, the firm earned ($0.28) earnings per share. Equities analysts forecast that Alphatec Holdings, Inc. will post -1.08 EPS for the current year.

Insider Buying and Selling

In related news, EVP Craig E. Hunsaker sold 32,584 shares of the firm’s stock in a transaction that occurred on Wednesday, December 10th. The stock was sold at an average price of $20.84, for a total value of $679,050.56. Following the sale, the executive vice president directly owned 1,256,558 shares in the company, valued at $26,186,668.72. This trade represents a 2.53% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, COO Scott Lish sold 19,900 shares of Alphatec stock in a transaction on Tuesday, December 16th. The shares were sold at an average price of $19.64, for a total value of $390,836.00. Following the sale, the chief operating officer directly owned 641,432 shares in the company, valued at $12,597,724.48. The trade was a 3.01% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 3,403,342 shares of company stock valued at $69,816,381 in the last three months. 22.80% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of ATEC. Aster Capital Management DIFC Ltd bought a new position in Alphatec in the 3rd quarter valued at about $34,000. Osterweis Capital Management Inc. acquired a new stake in Alphatec in the second quarter worth approximately $37,000. China Universal Asset Management Co. Ltd. acquired a new position in shares of Alphatec during the 3rd quarter valued at $73,000. FNY Investment Advisers LLC bought a new stake in shares of Alphatec in the 3rd quarter worth $74,000. Finally, Nisa Investment Advisors LLC raised its stake in shares of Alphatec by 22.4% in the 2nd quarter. Nisa Investment Advisors LLC now owns 5,714 shares of the medical technology company’s stock worth $63,000 after buying an additional 1,045 shares in the last quarter. 66.35% of the stock is owned by institutional investors and hedge funds.

Alphatec Company Profile

(Get Free Report)

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.

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