Alphatec (NASDAQ:ATEC) Sets New 12-Month Low at $5.72

Alphatec Holdings, Inc. (NASDAQ:ATEC)’s stock price reached a new 52-week low on Wednesday . The stock traded as low as $5.72 and last traded at $5.74, with a volume of 413325 shares trading hands. The stock had previously closed at $5.89.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on ATEC. Morgan Stanley lowered Alphatec from an “overweight” rating to an “equal weight” rating in a research report on Thursday, August 1st. HC Wainwright restated a “buy” rating and set a $20.00 target price on shares of Alphatec in a report on Thursday, August 1st. Canaccord Genuity Group reissued a “buy” rating and set a $25.00 price target on shares of Alphatec in a research report on Thursday, July 25th. Wells Fargo & Company decreased their target price on Alphatec from $26.00 to $19.00 and set an “overweight” rating for the company in a report on Thursday, August 1st. Finally, Barclays initiated coverage on shares of Alphatec in a research note on Monday, July 8th. They issued an “overweight” rating and a $19.00 price objective for the company. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and eight have issued a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $19.11.

Alphatec Price Performance

The company has a 50 day moving average price of $9.38 and a 200 day moving average price of $11.74. The company has a debt-to-equity ratio of 30.21, a current ratio of 2.22 and a quick ratio of 1.49. The firm has a market cap of $794.54 million, a PE ratio of -3.95 and a beta of 1.40.

Alphatec (NASDAQ:ATEC) last posted its quarterly earnings data on Wednesday, July 31st. The medical technology company reported ($0.29) earnings per share for the quarter, missing analysts’ consensus estimates 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 firm had revenue of $145.57 million during the quarter, compared to analyst estimates of $144.55 million. During the same period in the prior year, the firm earned ($0.43) EPS. The business’s quarterly revenue was up 24.5% on a year-over-year basis. Sell-side analysts expect that Alphatec Holdings, Inc. will post -1.04 EPS for the current fiscal year.

Insider Buying and Selling at Alphatec

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

Institutional Trading of Alphatec

Hedge funds have recently added to or reduced their stakes in the business. Raymond James & Associates lifted its holdings in shares of Alphatec by 26.3% during the fourth quarter. Raymond James & Associates now owns 14,287 shares of the medical technology company’s stock valued at $216,000 after purchasing an additional 2,975 shares during the last quarter. Raymond James Financial Services Advisors Inc. purchased a new position in shares of Alphatec in the fourth quarter worth approximately $202,000. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in shares of Alphatec by 94.5% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 23,579 shares of the medical technology company’s stock valued at $356,000 after acquiring an additional 11,459 shares during the period. Handelsbanken Fonder AB lifted its position in shares of Alphatec by 5.0% in the 4th quarter. Handelsbanken Fonder AB now owns 20,900 shares of the medical technology company’s stock valued at $316,000 after acquiring an additional 1,000 shares in the last quarter. Finally, Russell Investments Group Ltd. boosted its stake in Alphatec by 2.3% in the 4th quarter. Russell Investments Group Ltd. now owns 392,472 shares of the medical technology company’s stock worth $5,930,000 after purchasing an additional 9,008 shares during the period. Institutional investors own 66.35% of the company’s stock.

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.