Alphatec (NASDAQ:ATEC) Trading Down 6.3% – Time to Sell?

Alphatec Holdings, Inc. (NASDAQ:ATEC) shares dropped 6.3% during mid-day trading on Tuesday . The stock 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 session volume of 3,280,078 shares. The stock had previously closed at $9.50.

Wall Street Analyst Weigh In

ATEC has been the subject of a number of research reports. TD Cowen reduced their price objective on Alphatec from $20.00 to $11.00 and set a “buy” rating for the company in a research report on Wednesday, May 6th. Barclays cut their target price on Alphatec from $27.00 to $24.00 and set an “overweight” rating for the company in a research note on Thursday, May 7th. Piper Sandler reiterated an “overweight” rating and set a $14.00 price target (down from $25.00) on shares of Alphatec in a research note on Wednesday, May 6th. Needham & Company LLC lowered their price target on shares of Alphatec from $25.00 to $14.00 and set a “buy” rating on the stock in a report on Wednesday, May 6th. Finally, Weiss Ratings raised shares of Alphatec from a “sell (e+)” rating to a “sell (d-)” rating in a report on Wednesday, May 6th. Ten analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $18.58.

Alphatec Stock Down 7.3%

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

Insider Transactions at Alphatec

In other Alphatec news, Director Karen K. Mcginnis sold 6,050 shares of the business’s stock in a transaction dated Thursday, June 11th. The shares were sold at an average price of $8.01, for a total value of $48,460.50. Following the transaction, the director directly owned 94,671 shares in the company, valued at $758,314.71. The trade was a 6.01% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, 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 owned by corporate insiders.

Hedge Funds Weigh In On Alphatec

Several institutional investors have recently bought and sold shares of the business. Western Wealth Management LLC raised its position in Alphatec by 20.9% in the 1st quarter. Western Wealth Management LLC now owns 103,909 shares of the medical technology company’s stock worth $1,131,000 after purchasing an additional 17,928 shares during the last quarter. Bank of America Corp DE raised its position in shares of Alphatec by 26.9% during the first quarter. Bank of America Corp DE now owns 2,560,971 shares of the medical technology company’s stock worth $27,863,000 after acquiring an additional 543,059 shares during the last quarter. California State Teachers Retirement System lifted its stake in shares of Alphatec by 34.1% during the first quarter. California State Teachers Retirement System now owns 147,650 shares of the medical technology company’s stock valued at $1,606,000 after acquiring an additional 37,557 shares during the period. Rock Springs Capital Management LP boosted its holdings in Alphatec by 15.7% in the first quarter. Rock Springs Capital Management LP now owns 350,000 shares of the medical technology company’s stock valued at $3,808,000 after acquiring an additional 47,500 shares during the last quarter. Finally, Quantinno Capital Management LP boosted its holdings in Alphatec by 34.4% in the first quarter. Quantinno Capital Management LP now owns 21,452 shares of the medical technology company’s stock valued at $233,000 after acquiring an additional 5,487 shares during the last quarter. Institutional investors 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.