Alphatec (NASDAQ:ATEC) Stock Price Down 4% - Here's What Happened

Key Points

• Alphatec Holdings, Inc. experienced a 4% decline in stock price, trading as low as $13.93, with significantly reduced trading volume at approximately 308,508 shares.
• Wall Street analysts have mixed ratings, with some reiterating a "buy" rating and target prices ranging from $18.00 to $22.00, while one firm downgraded the stock to a "hold."
• Insiders have sold over 686,000 shares of Alphatec stock in the last ninety days, indicating potential concerns about the company's future performance.

Alphatec Holdings, Inc. (NASDAQ:ATEC - Get Free Report)'s stock price was down 4% during trading on Wednesday . The stock traded as low as $13.93 and last traded at $13.96. Approximately 308,508 shares changed hands during mid-day trading, a decline of 85% from the average daily volume of 2,036,803 shares. The stock had previously closed at $14.54.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on the stock. Wall Street Zen lowered shares of Alphatec from a "buy" rating to a "hold" rating in a research note on Friday, September 26th. Canaccord Genuity Group reiterated a "buy" rating and issued a $20.00 target price on shares of Alphatec in a research note on Friday, August 1st. Lake Street Capital upgraded shares of Alphatec to a "buy" rating and set a $18.00 target price on the stock in a research note on Monday, June 16th. Finally, Barclays reiterated an "overweight" rating and issued a $22.00 target price (up from $21.00) on shares of Alphatec in a research note on Monday, August 4th. Six investment analysts have rated the stock with a Buy rating, Based on data from MarketBeat, Alphatec presently has an average rating of "Buy" and an average target price of $18.50.

Alphatec Trading Down 3.1%

The company has a current ratio of 2.88, a quick ratio of 1.77 and a debt-to-equity ratio of 23.22. The business's fifty day simple moving average is $14.86 and its two-hundred day simple moving average is $12.45. The stock has a market capitalization of $2.09 billion, a P/E ratio of -12.46 and a beta of 1.02.

Alphatec (NASDAQ:ATEC - Get Free Report) last issued its quarterly earnings results on Thursday, July 31st. The medical technology company reported $0.02 earnings per share for the quarter, beating analysts' consensus estimates of ($0.06) by $0.08. The firm had revenue of $185.54 million during the quarter, compared to the consensus estimate of $178.85 million. Alphatec had a negative net margin of 24.33% and a negative return on equity of 1,657.19%. The business's revenue was up 27.5% on a year-over-year basis. During the same period in the prior year, the firm earned ($0.29) EPS. Alphatec has set its FY 2025 guidance at EPS. As a group, analysts forecast that Alphatec Holdings, Inc. will post -1.08 earnings per share for the current year.

Insider Activity

In related news, CEO Patrick Miles sold 300,000 shares of Alphatec stock in a transaction dated Tuesday, September 2nd. The shares were sold at an average price of $15.73, for a total transaction of $4,719,000.00. Following the completion of the transaction, the chief executive officer directly owned 5,564,078 shares of the company's stock, valued at $87,522,946.94. This trade represents a 5.12% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Mortimer Berkowitz III sold 62,500 shares of Alphatec stock in a transaction dated Tuesday, September 9th. The shares were sold at an average price of $15.97, for a total transaction of $998,125.00. Following the transaction, the director directly owned 618,050 shares of the company's stock, valued at $9,870,258.50. This represents a 9.18% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 686,057 shares of company stock worth $10,439,311 over the last ninety days. Corporate insiders own 22.80% of the company's stock.

Institutional Investors Weigh In On Alphatec

Several hedge funds and other institutional investors have recently added to or reduced their stakes in ATEC. Osterweis Capital Management Inc. acquired a new stake in Alphatec in the 2nd quarter valued at about $37,000. Larson Financial Group LLC acquired a new stake in shares of Alphatec during the 1st quarter worth approximately $54,000. Nisa Investment Advisors LLC grew its position in shares of Alphatec by 22.4% during the 2nd quarter. Nisa Investment Advisors LLC now owns 5,714 shares of the medical technology company's stock worth $63,000 after buying an additional 1,045 shares during the period. Segment Wealth Management LLC acquired a new stake in shares of Alphatec during the 1st quarter worth approximately $101,000. Finally, FORA Capital LLC acquired a new stake in shares of Alphatec during the 1st quarter worth approximately $102,000. Institutional investors and hedge funds own 66.35% of the company's stock.

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.

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