Alphatec (NASDAQ:ATEC) Trading Down 3.2% - What's Next?

Key Points

• ATEC shares fell 3.2% to about $10.17 in mid-day trading, with volume down 91% from its average.
• Analyst sentiment remains generally positive: 13 analysts rate Alphatec a Buy, one rates it Hold and one Sell, producing a “Moderate Buy” consensus and an average price target of $17.40.
• Alphatec reported quarterly revenue of $213.5 million, up 15.1% year over year, while meeting the $0.07 EPS estimate; CEO Patrick Miles also bought 115,000 shares at an average price of $8.81.

Alphatec Holdings, Inc. (NASDAQ:ATEC - Get Free Report) traded down 3.2% during mid-day trading on Thursday . The stock traded as low as $10.21 and last traded at $10.1650. Approximately 256,963 shares were traded during trading, a decline of 91% from the average daily volume of 2,968,533 shares. The stock had previously closed at $10.50.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on the stock. Weiss Ratings restated a "sell (d-)" rating on shares of Alphatec in a research report on Monday, August 3rd. UBS Group increased their price target on shares of Alphatec from $15.00 to $16.00 and gave the company a "buy" rating in a research note on Wednesday, August 5th. Stifel Nicolaus lowered their price target on shares of Alphatec from $16.00 to $13.00 and set a "buy" rating for the company in a report on Wednesday, July 8th. BMO Capital Markets boosted their price objective on shares of Alphatec from $11.00 to $12.00 and gave the stock an "outperform" rating in a research report on Wednesday, August 5th. Finally, Wall Street Zen downgraded Alphatec from a "buy" rating to a "hold" rating in a report on Sunday, July 12th. Thirteen research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $17.40.

Alphatec Stock Performance

The company has a debt-to-equity ratio of 40.35, a quick ratio of 1.07 and a current ratio of 1.89. The company has a market cap of $1.56 billion, a price-to-earnings ratio of -14.20 and a beta of 0.85. The firm's 50-day moving average price is $9.39 and its 200 day moving average price is $9.72.

Alphatec (NASDAQ:ATEC - Get Free Report) last issued its earnings results on Tuesday, August 4th. The medical technology company reported $0.07 EPS for the quarter, meeting the consensus estimate of $0.07. Alphatec had a negative net margin of 13.49% and a negative return on equity of 6,752.24%. The company had revenue of $213.51 million during the quarter, compared to analysts' expectations of $211.26 million. During the same quarter in the previous year, the company posted $0.02 EPS. The business's revenue for the quarter was up 15.1% compared to the same quarter last year. On average, sell-side analysts anticipate that Alphatec Holdings, Inc. will post -0.45 EPS for the current year.

Insider Transactions at Alphatec

In other news, CEO Patrick Miles purchased 115,000 shares of the business's stock in a transaction that occurred on Thursday, September 10th. The shares were acquired at an average cost of $8.81 per share, for a total transaction of $1,013,150.00. Following the transaction, the chief executive officer directly owned 5,893,551 shares of the company's stock, valued at approximately $51,922,184.31. The trade was a 1.99% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at this link. Also, General Counsel Tyson Marshall sold 8,168 shares of the business's stock in a transaction that occurred on Wednesday, August 5th. The shares were sold at an average price of $9.65, for a total transaction of $78,821.20. Following the transaction, the general counsel owned 630,398 shares of the company's stock, valued at approximately $6,083,340.70. This represents a 1.28% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. 13.48% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in ATEC. Bank of America Corp DE increased its holdings in Alphatec by 26.9% during the 1st quarter. Bank of America Corp DE now owns 2,560,971 shares of the medical technology company's stock worth $27,863,000 after purchasing an additional 543,059 shares in the last quarter. Emerald Advisers LLC lifted its holdings in shares of Alphatec by 10.4% in the first quarter. Emerald Advisers LLC now owns 1,807,307 shares of the medical technology company's stock valued at $19,664,000 after purchasing an additional 169,578 shares in the last quarter. Jefferies Financial Group Inc. boosted its position in shares of Alphatec by 983.5% during the fourth quarter. Jefferies Financial Group Inc. now owns 595,937 shares of the medical technology company's stock worth $12,539,000 after buying an additional 540,937 shares during the period. Paradigm Capital Management Inc. NY acquired a new position in shares of Alphatec during the second quarter worth about $9,413,000. Finally, Lisanti Capital Growth LLC grew its holdings in shares of Alphatec by 63.8% during the fourth quarter. Lisanti Capital Growth LLC now owns 372,407 shares of the medical technology company's stock worth $7,835,000 after buying an additional 145,120 shares in the last quarter. 66.35% of the stock is currently owned by institutional investors.

Alphatec Company Profile

Alphatec Holdings, Inc NASDAQ: ATEC is a medical technology company focused on improving the surgical treatment of spinal disorders. The company develops and commercializes products designed to support spine surgery, including implants, biologics, surgical instruments and related technologies.

Its portfolio is intended for procedures addressing conditions such as spinal deformities, degenerative disc disease and other disorders affecting the spine. Alphatec emphasizes surgeon-focused solutions and integrated technologies that support preoperative planning, intraoperative decision-making and the placement of spinal implants.

Headquartered in Carlsbad, California, Alphatec serves hospitals, surgeons and other healthcare providers in the United States and select international markets.

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