Alphatec (NASDAQ:ATEC) Stock Price Down 8.1% – Time to Sell?

Alphatec Holdings, Inc. (NASDAQ:ATEC) shares dropped 8.1% during mid-day trading on Wednesday . The company traded as low as $9.26 and last traded at $9.5160. Approximately 1,758,778 shares traded hands during trading, a decline of 44% from the average daily volume of 3,139,033 shares. The stock had previously closed at $10.35.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on the company. BMO Capital Markets lifted their target price on Alphatec from $11.00 to $12.00 and gave the company an “outperform” rating in a report on Wednesday. JPMorgan Chase & Co. cut their price objective on shares of Alphatec from $24.00 to $16.00 and set an “overweight” rating for the company in a research report on Wednesday, May 6th. UBS Group reaffirmed a “buy” rating and set a $16.00 price objective on shares of Alphatec in a research note on Wednesday. Stephens assumed coverage on shares of Alphatec in a report on Thursday, July 23rd. They issued an “overweight” rating and a $15.00 price target for the company. Finally, TD Cowen reiterated a “buy” rating on shares of Alphatec in a research report on Wednesday. Thirteen investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $17.27.

Alphatec Price Performance

The business’s fifty day moving average price is $8.70 and its 200-day moving average price is $10.83. The company has a market capitalization of $1.45 billion, a P/E ratio of -11.57 and a beta of 0.85. The company has a current ratio of 1.90, a quick ratio of 1.12 and a debt-to-equity ratio of 40.35.

Alphatec (NASDAQ:ATEC) last released its earnings results on Tuesday, August 4th. The medical technology company reported $0.07 EPS for the quarter, meeting analysts’ consensus estimates of $0.07. Alphatec had a negative return on equity of 1,183.84% and a negative net margin of 15.93%.The business had revenue of $213.51 million for the quarter, compared to analysts’ expectations of $211.26 million. During the same quarter in the prior year, the firm earned $0.02 earnings per share. The firm’s revenue was up 15.1% on a year-over-year basis. As a group, sell-side analysts predict that Alphatec Holdings, Inc. will post -0.44 earnings per share for the current fiscal year.

Insider Activity at Alphatec

In other Alphatec news, Director Karen K. Mcginnis sold 6,050 shares of Alphatec stock in a transaction that occurred on Thursday, June 11th. The stock was 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 of the company’s stock, valued at approximately $758,314.71. The trade was a 6.01% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 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. Company insiders own 13.48% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Creative Planning boosted its position in shares of Alphatec by 0.9% during the third quarter. Creative Planning now owns 58,654 shares of the medical technology company’s stock worth $853,000 after acquiring an additional 534 shares during the last quarter. Great Lakes Advisors LLC increased its holdings in shares of Alphatec by 0.4% in the fourth quarter. Great Lakes Advisors LLC now owns 278,717 shares of the medical technology company’s stock worth $5,864,000 after purchasing an additional 1,226 shares during the last quarter. Franklin Resources Inc. lifted its position in shares of Alphatec by 2.0% in the fourth quarter. Franklin Resources Inc. now owns 64,774 shares of the medical technology company’s stock worth $1,363,000 after buying an additional 1,299 shares in the last quarter. Oppenheimer Asset Management Inc. boosted its stake in Alphatec by 9.9% during the fourth quarter. Oppenheimer Asset Management Inc. now owns 15,075 shares of the medical technology company’s stock valued at $317,000 after buying an additional 1,353 shares during the last quarter. Finally, Northwestern Mutual Wealth Management Co. grew its holdings in Alphatec by 157.1% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 2,571 shares of the medical technology company’s stock valued at $54,000 after buying an additional 1,571 shares in the last quarter. 66.35% of the stock is currently owned by institutional investors.

Alphatec Company Profile

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.