Alphatec (NASDAQ:ATEC) Trading Down 4.9% – Should You Sell?

Alphatec Holdings, Inc. (NASDAQ:ATEC)’s share price fell 4.9% during mid-day trading on Thursday . The company traded as low as $5.04 and last traded at $5.05. 272,068 shares were traded during trading, a decline of 85% from the average session volume of 1,842,650 shares. The stock had previously closed at $5.31.

Analyst Ratings Changes

A number of brokerages recently issued reports on ATEC. Stifel Nicolaus dropped their price objective on shares of Alphatec from $19.00 to $16.00 and set a “buy” rating for the company in a report on Thursday, August 1st. Lake Street Capital dropped their price objective on shares of Alphatec from $32.00 to $18.00 and set a “buy” rating for the company in a report on Tuesday, September 3rd. Canaccord Genuity Group reaffirmed a “buy” rating and issued a $20.00 target price on shares of Alphatec in a research report on Friday, August 30th. Wells Fargo & Company decreased their target price on shares of Alphatec from $26.00 to $19.00 and set an “overweight” rating on the stock in a research report on Thursday, August 1st. Finally, Morgan Stanley cut shares of Alphatec from an “overweight” rating to an “equal weight” rating in a research report on Thursday, August 1st. One research analyst has rated the stock with a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat, Alphatec presently has a consensus rating of “Moderate Buy” and a consensus price target of $17.50.

Alphatec Price Performance

The company has a market capitalization of $720.40 million, a PE ratio of -3.46 and a beta of 1.39. The company has a debt-to-equity ratio of 30.21, a current ratio of 2.22 and a quick ratio of 1.21. The company’s 50 day simple moving average is $5.93 and its 200 day simple moving average is $9.48.

Alphatec (NASDAQ:ATEC) last announced its quarterly earnings results on Wednesday, July 31st. The medical technology company reported ($0.29) EPS for the quarter, missing the consensus estimate of ($0.26) by ($0.03). The company had revenue of $145.57 million during the quarter, compared to analysts’ expectations of $144.55 million. Alphatec had a negative net margin of 33.48% and a negative return on equity of 816.57%. The business’s revenue for the quarter was up 24.5% on a year-over-year basis. During the same quarter in the prior year, the company earned ($0.43) earnings per share. As a group, sell-side analysts predict that Alphatec Holdings, Inc. will post -1.08 earnings per share 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 acquired at an average cost of $5.67 per share, with a total value of $283,500.00. Following the acquisition, the director now directly owns 288,441 shares of the company’s stock, valued at $1,635,460.47. The trade was a 0.00 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate insiders own 22.80% of the company’s stock.

Hedge Funds Weigh In On Alphatec

Institutional investors have recently bought and sold shares of the company. Vanguard Group Inc. boosted its position in shares of Alphatec by 1.2% in the 1st quarter. Vanguard Group Inc. now owns 5,458,847 shares of the medical technology company’s stock worth $75,278,000 after buying an additional 64,648 shares in the last quarter. Point72 Asset Management L.P. boosted its position in shares of Alphatec by 65.2% in the 2nd quarter. Point72 Asset Management L.P. now owns 3,192,789 shares of the medical technology company’s stock worth $33,365,000 after buying an additional 1,260,137 shares in the last quarter. Fred Alger Management LLC boosted its position in shares of Alphatec by 0.8% in the 2nd quarter. Fred Alger Management LLC now owns 2,638,303 shares of the medical technology company’s stock worth $27,570,000 after buying an additional 21,078 shares in the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. lifted its holdings in Alphatec by 23.8% in the 2nd quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 2,630,244 shares of the medical technology company’s stock valued at $27,486,000 after purchasing an additional 505,202 shares in the last quarter. Finally, Goldman Sachs Group Inc. lifted its holdings in Alphatec by 93.9% in the 4th quarter. Goldman Sachs Group Inc. now owns 1,451,499 shares of the medical technology company’s stock valued at $21,932,000 after purchasing an additional 702,950 shares in the last quarter. 66.35% of the stock is owned by institutional investors and hedge funds.

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.