Alphatec (NASDAQ:ATEC) Stock Price Down 3.2%

Alphatec Holdings, Inc. (NASDAQ:ATEC) shares fell 3.2% during mid-day trading on Tuesday . The company traded as low as $6.00 and last traded at $6.02. 853,639 shares changed hands during trading, a decline of 52% from the average session volume of 1,789,036 shares. The stock had previously closed at $6.22.

Wall Street Analysts Forecast Growth

ATEC has been the topic of several recent research reports. Barclays started coverage on shares of Alphatec in a report on Monday, July 8th. They issued an “overweight” rating and a $19.00 price objective on the stock. HC Wainwright reaffirmed a “buy” rating and issued a $20.00 price target on shares of Alphatec in a report on Thursday, August 1st. Morgan Stanley lowered Alphatec from an “overweight” rating to an “equal weight” rating 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. Finally, Stifel Nicolaus lowered their price target on shares of Alphatec from $19.00 to $16.00 and set a “buy” rating on the stock in a report on Thursday, August 1st. One analyst has rated the stock with a sell rating, one has assigned a hold rating and eight have given a buy rating to the company’s stock. Based on data from MarketBeat, Alphatec currently has an average rating of “Moderate Buy” and a consensus price target of $19.11.

Alphatec Price Performance

The firm has a market cap of $843.50 million, a price-to-earnings ratio of -4.17 and a beta of 1.40. The company has a current ratio of 2.22, a quick ratio of 1.49 and a debt-to-equity ratio of 30.21. The stock’s fifty day moving average price is $9.86 and its 200-day moving average price is $12.18.

Alphatec (NASDAQ:ATEC) last posted its 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). The business had revenue of $145.57 million for the quarter, compared to analyst estimates of $144.55 million. Alphatec had a negative return on equity of 816.57% and a negative net margin of 33.48%. Alphatec’s revenue was up 24.5% compared to the same quarter last year. During the same period last year, the business earned ($0.43) EPS. As a group, equities research analysts forecast that Alphatec Holdings, Inc. will post -1.04 earnings per share for the current fiscal year.

Insider Activity

In other news, General Counsel Tyson Eliot Marshall sold 50,232 shares of the stock in a transaction dated Wednesday, June 12th. The shares were sold at an average price of $10.88, for a total transaction of $546,524.16. Following the completion of the sale, the general counsel now owns 245,638 shares in the company, valued at $2,672,541.44. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 22.80% of the company’s stock.

Institutional Investors Weigh In On Alphatec

Large investors have recently modified their holdings of the stock. Comerica Bank increased its stake in Alphatec by 64.8% in the 1st quarter. Comerica Bank now owns 6,443 shares of the medical technology company’s stock valued at $89,000 after buying an additional 2,534 shares during the period. Tidemark LLC purchased a new stake in shares of Alphatec in the fourth quarter valued at about $137,000. Amalgamated Bank increased its stake in shares of Alphatec by 7.3% during the fourth quarter. Amalgamated Bank now owns 9,720 shares of the medical technology company’s stock worth $147,000 after acquiring an additional 660 shares during the period. EntryPoint Capital LLC purchased a new position in Alphatec during the first quarter worth about $141,000. Finally, Clear Rock Advisors LLC acquired a new stake in Alphatec in the fourth quarter valued at about $179,000. Hedge funds and other 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.