Alphatec (NASDAQ:ATEC) Sets New 12-Month Low – Here’s Why

Alphatec Holdings, Inc. (NASDAQ:ATEC) shares hit a new 52-week low during trading on Tuesday . The company traded as low as $6.82 and last traded at $6.99, with a volume of 5017984 shares traded. The stock had previously closed at $7.52.

Analyst Ratings Changes

A number of analysts have commented on the company. TD Cowen reduced their price target on Alphatec from $20.00 to $11.00 and set a “buy” rating for the company in a research report on Wednesday, May 6th. HC Wainwright restated a “buy” rating and issued a $24.00 price target on shares of Alphatec in a research report on Thursday, May 7th. JPMorgan Chase & Co. dropped their price objective on Alphatec from $24.00 to $16.00 and set an “overweight” rating for the company in a research note on Wednesday, May 6th. Wall Street Zen raised Alphatec from a “hold” rating to a “buy” rating in a research note on Saturday, January 31st. Finally, Canaccord Genuity Group dropped their price objective on Alphatec from $25.00 to $23.00 and set a “buy” rating for the company in a research note on Wednesday, May 6th. Ten analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $18.58.

Alphatec Stock Performance

The stock has a market cap of $1.07 billion, a P/E ratio of -8.52 and a beta of 0.96. The company has a quick ratio of 1.12, a current ratio of 1.90 and a debt-to-equity ratio of 40.35. The business has a 50 day moving average price of $11.21 and a two-hundred day moving average price of $15.74.

Alphatec (NASDAQ:ATEC) last released its quarterly earnings data on Tuesday, May 5th. The medical technology company reported ($0.22) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.01) by ($0.21). The business had revenue of $192.11 million during the quarter, compared to the consensus estimate of $197.51 million. Alphatec had a negative return on equity of 1,183.84% and a negative net margin of 15.93%.The business’s revenue was up 13.6% on a year-over-year basis. During the same period last year, the company earned ($0.35) EPS. On average, sell-side analysts forecast that Alphatec Holdings, Inc. will post -0.28 earnings per share for the current fiscal year.

Insider Transactions at Alphatec

In other Alphatec news, EVP David Sponsel sold 163,452 shares of Alphatec stock in a transaction that occurred on Wednesday, March 11th. The stock was sold at an average price of $12.52, for a total value of $2,046,419.04. Following the sale, the executive vice president owned 504,932 shares of the company’s stock, valued at $6,321,748.64. The trade was a 24.45% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, COO Scott Lish sold 260,535 shares of the stock in a transaction that occurred on Friday, March 13th. The shares were sold at an average price of $12.30, for a total value of $3,204,580.50. Following the transaction, the chief operating officer owned 815,704 shares of the company’s stock, valued at $10,033,159.20. This represents a 24.21% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last quarter, insiders sold 629,189 shares of company stock worth $7,801,589. 13.48% of the stock is owned by insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the company. Vanguard Group Inc. boosted its position in shares of Alphatec by 2.4% during the 3rd quarter. Vanguard Group Inc. now owns 6,815,058 shares of the medical technology company’s stock valued at $99,091,000 after acquiring an additional 158,295 shares during the last quarter. Tudor Investment Corp ET AL boosted its position in shares of Alphatec by 608.4% during the 3rd quarter. Tudor Investment Corp ET AL now owns 900,491 shares of the medical technology company’s stock valued at $13,093,000 after acquiring an additional 773,367 shares during the last quarter. Lisanti Capital Growth LLC bought a new position in shares of Alphatec during the 3rd quarter valued at approximately $3,305,000. Universal Beteiligungs und Servicegesellschaft mbH bought a new position in shares of Alphatec during the 4th quarter valued at approximately $3,691,000. Finally, Aberdeen Group plc boosted its position in shares of Alphatec by 29.7% during the 4th quarter. Aberdeen Group plc now owns 1,286,195 shares of the medical technology company’s stock valued at $27,062,000 after acquiring an additional 294,792 shares during 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.