Alphatec (NASDAQ:ATEC) Shares Down 7.5% - What's Next?

Key Points

• Shares fell 7.5% intraday to $10.6850 on Tuesday, with about 1.11 million shares traded—roughly 62% below the stock's average daily volume.
• Analysts hold a "Moderate Buy" consensus on ATEC with an average price target of $22.82 and individual targets ranging roughly from $20 to $27 across firms.
• Company insiders have sold 726,972 shares worth about $9.18 million this quarter, trimming their positions; insiders now own 22.8% of the stock while institutional investors hold ~66.35%.

Alphatec Holdings, Inc. (NASDAQ:ATEC - Get Free Report)'s share price was down 7.5% during mid-day trading on Tuesday . The company traded as low as $10.80 and last traded at $10.6850. Approximately 1,110,021 shares traded hands during trading, a decline of 62% from the average daily volume of 2,900,649 shares. The stock had previously closed at $11.55.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on ATEC shares. Stifel Nicolaus dropped their price objective on Alphatec from $24.00 to $20.00 and set a "buy" rating on the stock in a research note on Monday, March 9th. Needham & Company LLC reiterated a "buy" rating and set a $22.00 price objective on shares of Alphatec in a research note on Monday, January 12th. Barclays upped their price objective on Alphatec from $23.00 to $27.00 and gave the stock an "overweight" rating in a research note on Wednesday, January 7th. Wall Street Zen upgraded Alphatec from a "hold" rating to a "buy" rating in a research note on Saturday, January 31st. Finally, HC Wainwright restated a "buy" rating and issued a $24.00 price target on shares of Alphatec in a research note on Monday, January 12th. One equities research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $22.82.

Alphatec Trading Down 8.5%

The business has a 50 day moving average of $12.32 and a two-hundred day moving average of $16.18. The company has a current ratio of 2.06, a quick ratio of 1.28 and a debt-to-equity ratio of 40.35. The firm has a market cap of $1.60 billion, a P/E ratio of -11.12 and a beta of 1.12.

Alphatec (NASDAQ:ATEC - Get Free Report) last posted its quarterly earnings results on Tuesday, February 24th. The medical technology company reported $0.06 earnings per share for the quarter, beating analysts' consensus estimates of $0.04 by $0.02. The business had revenue of $212.93 million during the quarter, compared to the consensus estimate of $212.67 million. During the same quarter last year, the company posted ($0.23) EPS. The firm's revenue was up 20.4% on a year-over-year basis. Analysts predict that Alphatec Holdings, Inc. will post -0.28 earnings per share for the current year.

Insider Transactions at Alphatec

In other Alphatec news, General Counsel Tyson Eliot Marshall sold 88,835 shares of the stock in a transaction on Thursday, March 5th. The stock was sold at an average price of $12.49, for a total transaction of $1,109,549.15. Following the transaction, the general counsel owned 559,459 shares in the company, valued at $6,987,642.91. This trade represents a 13.70% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP David Sponsel sold 163,452 shares of the stock in a transaction on Wednesday, March 11th. The stock was sold at an average price of $12.52, for a total value of $2,046,419.04. Following the transaction, the executive vice president owned 504,932 shares in the company, valued at $6,321,748.64. The trade was a 24.45% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 726,972 shares of company stock worth $9,184,386 over the last quarter. 22.80% of the stock is currently owned by corporate insiders.

Institutional Trading of Alphatec

Several large investors have recently modified their holdings of ATEC. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in shares of Alphatec by 4.5% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 74,005 shares of the medical technology company's stock worth $750,000 after purchasing an additional 3,196 shares in the last quarter. Dynamic Technology Lab Private Ltd acquired a new stake in shares of Alphatec during the 1st quarter worth $257,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its holdings in shares of Alphatec by 18.4% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 265,907 shares of the medical technology company's stock worth $2,696,000 after purchasing an additional 41,264 shares in the last quarter. Quantbot Technologies LP acquired a new stake in shares of Alphatec during the 2nd quarter worth $242,000. Finally, Invesco Ltd. grew its holdings in shares of Alphatec by 455.0% during the 2nd quarter. Invesco Ltd. now owns 282,212 shares of the medical technology company's stock worth $3,133,000 after purchasing an additional 231,367 shares in the last quarter. 66.35% of the stock is owned by institutional investors and hedge funds.

Alphatec Company Profile

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.

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