Alphatec (NASDAQ:ATEC) Stock Price Down 3.3%

Shares of Alphatec Holdings, Inc. (NASDAQ:ATEC) were down 3.3% during trading on Monday . The company traded as low as $5.78 and last traded at $5.83. Approximately 75,956 shares traded hands during trading, a decline of 96% from the average daily volume of 1,860,186 shares. The stock had previously closed at $6.03.

Analyst Ratings Changes

A number of research analysts recently weighed in on the company. Stifel Nicolaus reduced their target price on Alphatec from $19.00 to $16.00 and set a “buy” rating on the stock in a report on Thursday, August 1st. HC Wainwright reaffirmed a “buy” rating and issued a $20.00 price objective on shares of Alphatec in a research note on Thursday, August 1st. Lake Street Capital dropped their target price on shares of Alphatec from $32.00 to $18.00 and set a “buy” rating for the company in a research report on Tuesday, September 3rd. Barclays started coverage on shares of Alphatec in a research report on Monday, July 8th. They set an “overweight” rating and a $19.00 price target on the stock. Finally, Piper Sandler dropped their price objective on shares of Alphatec from $17.00 to $12.00 and set an “overweight” rating for the company in a research report on Thursday, August 1st. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $17.50.

Alphatec Stock Up 0.5 %

The company has a current ratio of 2.22, a quick ratio of 1.21 and a debt-to-equity ratio of 30.21. The stock’s fifty day moving average is $7.16 and its two-hundred day moving average is $10.17.

Alphatec (NASDAQ:ATEC) last announced its earnings results on Wednesday, July 31st. The medical technology company reported ($0.29) earnings per share for the quarter, missing the consensus estimate of ($0.26) by ($0.03). Alphatec had a negative net margin of 33.48% and a negative return on equity of 816.57%. The business had revenue of $145.57 million for the quarter, compared to analyst estimates of $144.55 million. During the same quarter in the prior year, the business earned ($0.43) earnings per share. The firm’s revenue was up 24.5% on a year-over-year basis. Equities analysts forecast that Alphatec Holdings, Inc. will post -1.08 earnings per share for the current year.

Insider Buying and Selling at Alphatec

In related news, Director David M. Demski purchased 50,000 shares of the firm’s stock in a transaction dated Wednesday, August 21st. The stock was acquired at an average price of $5.67 per share, with a total value of $283,500.00. Following the completion of the transaction, the director now owns 288,441 shares of the company’s stock, valued at $1,635,460.47. The acquisition was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 22.80% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Alphatec

Hedge funds have recently bought and sold shares of the company. First Light Asset Management LLC lifted its holdings in Alphatec by 97.0% during the 4th quarter. First Light Asset Management LLC now owns 5,976,851 shares of the medical technology company’s stock worth $90,310,000 after buying an additional 2,943,310 shares during the last quarter. Artisan Partners Limited Partnership bought a new position in Alphatec during the fourth quarter worth $19,050,000. Point72 Asset Management L.P. boosted its holdings in Alphatec by 65.2% in the second quarter. Point72 Asset Management L.P. now owns 3,192,789 shares of the medical technology company’s stock worth $33,365,000 after purchasing an additional 1,260,137 shares during the period. Magnetar Financial LLC bought a new stake in Alphatec during the second quarter valued at $10,957,000. Finally, Goldman Sachs Group Inc. raised its holdings in shares of Alphatec by 93.9% during the fourth quarter. Goldman Sachs Group Inc. now owns 1,451,499 shares of the medical technology company’s stock worth $21,932,000 after purchasing an additional 702,950 shares during the period. 66.35% of the stock is currently owned by institutional investors and hedge funds.

Alphatec Company Profile

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.