Alphatec (NASDAQ:ATEC) Trading Down 3.5% – Here’s What Happened

Alphatec Holdings, Inc. (NASDAQ:ATEC)’s share price dropped 3.5% during trading on Monday . The company traded as low as $9.71 and last traded at $9.71. Approximately 68,184 shares changed hands during trading, a decline of 97% from the average daily volume of 1,951,606 shares. The stock had previously closed at $10.06.

Analysts Set New Price Targets

A number of equities analysts recently commented on ATEC shares. Barclays raised their target price on Alphatec from $19.00 to $20.00 and gave the stock an “overweight” rating in a report on Tuesday, November 19th. Stifel Nicolaus dropped their price objective on 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 reissued a “buy” rating and issued a $20.00 price target on shares of Alphatec in a report on Friday, August 30th. Piper Sandler decreased their price target on shares of Alphatec from $17.00 to $12.00 and set an “overweight” rating on the stock in a research note on Thursday, August 1st. Finally, Morgan Stanley lowered Alphatec from an “overweight” rating to an “equal weight” rating in a research note on Thursday, August 1st. One research analyst has rated the stock with a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $17.11.

Alphatec Price Performance

The company has a current ratio of 2.32, a quick ratio of 1.15 and a debt-to-equity ratio of 30.21. The business’s 50 day moving average is $6.71 and its 200 day moving average is $8.22.

Hedge Funds Weigh In On Alphatec

Hedge funds have recently bought and sold shares of the business. ProShare Advisors LLC boosted its position in Alphatec by 8.5% in the 1st quarter. ProShare Advisors LLC now owns 16,572 shares of the medical technology company’s stock valued at $229,000 after buying an additional 1,304 shares during the period. Vanguard Group Inc. raised its position in Alphatec by 1.2% during the 1st quarter. Vanguard Group Inc. now owns 5,458,847 shares of the medical technology company’s stock valued at $75,278,000 after purchasing an additional 64,648 shares in the last quarter. Price T Rowe Associates Inc. MD grew its stake in Alphatec by 14.2% in the first quarter. Price T Rowe Associates Inc. MD now owns 26,346 shares of the medical technology company’s stock valued at $364,000 after purchasing an additional 3,268 shares during the last quarter. Bayesian Capital Management LP lifted its position in Alphatec by 5.6% during the 1st quarter. Bayesian Capital Management LP now owns 27,000 shares of the medical technology company’s stock worth $372,000 after acquiring an additional 1,442 shares during the period. Finally, Comerica Bank grew its stake in Alphatec by 64.8% during the 1st quarter. Comerica Bank now owns 6,443 shares of the medical technology company’s stock valued at $89,000 after purchasing an additional 2,534 shares during the last quarter. 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.