Alphatec (NASDAQ:ATEC) Trading Down 3.2%

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

Analyst Upgrades and Downgrades

ATEC has been the topic of a number of research reports. Needham & Company LLC reaffirmed a “buy” rating and set a $23.00 price target on shares of Alphatec in a research note on Thursday, August 1st. Wells Fargo & Company cut their target price on Alphatec from $26.00 to $19.00 and set an “overweight” rating on the stock in a report on Thursday, August 1st. Stifel Nicolaus decreased their price target on shares of Alphatec from $19.00 to $16.00 and set a “buy” rating for the company in a research note on Thursday, August 1st. Canaccord Genuity Group reaffirmed a “buy” rating and issued a $25.00 price objective on shares of Alphatec in a research note on Thursday, July 25th. Finally, HC Wainwright reissued a “buy” rating and set a $20.00 target price on shares of Alphatec in a research report on Thursday, August 1st. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $19.11.

Alphatec Stock Performance

The company has a debt-to-equity ratio of 30.21, a quick ratio of 1.49 and a current ratio of 2.22. The company has a market cap of $843.50 million, a PE ratio of -4.17 and a beta of 1.40. The company’s 50 day moving average price is $9.86 and its 200-day moving average price is $12.18.

Alphatec (NASDAQ:ATEC) last released its earnings results on Wednesday, July 31st. The medical technology company reported ($0.29) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.26) by ($0.03). The firm had revenue of $145.57 million during the quarter, compared to analysts’ expectations of $144.55 million. Alphatec had a negative return on equity of 816.57% and a negative net margin of 33.48%. The business’s quarterly revenue was up 24.5% compared to the same quarter last year. During the same period in the prior year, the business earned ($0.43) earnings per share. Equities research analysts anticipate that Alphatec Holdings, Inc. will post -1.04 earnings per share for the current fiscal year.

Insider Buying and Selling

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

Hedge Funds Weigh In On Alphatec

A number of large investors have recently modified their holdings of the company. Sei Investments Co. increased its holdings in Alphatec by 4.7% during the 2nd quarter. Sei Investments Co. now owns 111,460 shares of the medical technology company’s stock worth $1,165,000 after acquiring an additional 4,976 shares during the period. King Luther Capital Management Corp increased its holdings in shares of Alphatec by 14.7% in the second quarter. King Luther Capital Management Corp now owns 1,062,720 shares of the medical technology company’s stock worth $11,105,000 after purchasing an additional 136,492 shares during the period. Granite Investment Partners LLC raised its position in shares of Alphatec by 130.2% in the second quarter. Granite Investment Partners LLC now owns 664,201 shares of the medical technology company’s stock worth $6,941,000 after buying an additional 375,621 shares in the last quarter. First Eagle Investment Management LLC bought a new stake in Alphatec during the second quarter valued at $1,071,000. Finally, Hsbc Holdings PLC grew its position in Alphatec by 130.1% during the second quarter. Hsbc Holdings PLC now owns 33,403 shares of the medical technology company’s stock worth $347,000 after buying an additional 18,888 shares in the last quarter. 66.35% of the stock is currently owned by institutional investors.

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.