Alphatec (NASDAQ:ATEC) Shares Down 6.2% – Here’s Why

Shares of Alphatec Holdings, Inc. (NASDAQ:ATEC) dropped 6.2% on Tuesday . The company traded as low as $8.88 and last traded at $9.1350. Approximately 288,484 shares changed hands during trading, a decline of 91% from the average session volume of 3,232,806 shares. The stock had previously closed at $9.74.

Analyst Ratings Changes

ATEC has been the subject of a number of research analyst reports. Stifel Nicolaus cut their price target on shares of Alphatec from $16.00 to $13.00 and set a “buy” rating for the company in a report on Wednesday, July 8th. Piper Sandler reiterated an “overweight” rating and set a $14.00 price target (down from $25.00) on shares of Alphatec in a research report on Wednesday, May 6th. TD Cowen decreased their price target on Alphatec from $20.00 to $11.00 and set a “buy” rating on the stock in a research note on Wednesday, May 6th. JPMorgan Chase & Co. lowered their price target on Alphatec from $24.00 to $16.00 and set an “overweight” rating on the stock in a report on Wednesday, May 6th. Finally, Weiss Ratings raised Alphatec from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Wednesday, May 6th. One investment analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, Alphatec presently has an average rating of “Moderate Buy” and a consensus price target of $17.46.

Alphatec Price Performance

The company has a market capitalization of $1.38 billion, a price-to-earnings ratio of -10.96 and a beta of 0.85. The company has a fifty day simple moving average of $8.36 and a two-hundred day simple moving average of $12.12. The company has a debt-to-equity ratio of 40.35, a quick ratio of 1.12 and a current ratio of 1.90.

Insiders Place Their Bets

In other Alphatec news, Director Karen K. Mcginnis sold 6,050 shares of the firm’s stock in a transaction dated Thursday, June 11th. The stock was sold at an average price of $8.01, for a total value 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. This trade represents a 6.01% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through 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. Company insiders own 13.48% of the company’s stock.

Institutional Investors Weigh In On Alphatec

A number of institutional investors have recently bought and sold shares of ATEC. Tudor Investment Corp ET AL increased its stake in Alphatec by 608.4% during the third quarter. Tudor Investment Corp ET AL now owns 900,491 shares of the medical technology company’s stock worth $13,093,000 after acquiring an additional 773,367 shares during the last quarter. Universal Beteiligungs und Servicegesellschaft mbH acquired a new position in shares of Alphatec in the 4th quarter valued at about $3,691,000. Aberdeen Group plc lifted its stake in shares of Alphatec by 29.7% in 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 purchasing an additional 294,792 shares in the last quarter. Pier Capital LLC purchased a new stake in shares of Alphatec during the 4th quarter worth about $4,835,000. Finally, Assenagon Asset Management S.A. grew its holdings in shares of Alphatec by 30.4% during the 4th quarter. Assenagon Asset Management S.A. now owns 978,343 shares of the medical technology company’s stock worth $20,584,000 after purchasing an additional 227,914 shares during the period. 66.35% of the stock is currently owned by hedge funds and other institutional investors.

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.