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

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

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on ATEC. Canaccord Genuity Group reaffirmed a “buy” rating and set a $25.00 price target on shares of Alphatec in a report on Thursday, July 25th. Barclays assumed coverage on shares of Alphatec in a research note on Monday, July 8th. They issued an “overweight” rating and a $19.00 price target on the stock. Morgan Stanley cut Alphatec from an “overweight” rating to an “equal weight” rating in a report on Thursday, August 1st. Piper Sandler dropped their price target on Alphatec from $17.00 to $12.00 and set an “overweight” rating for the company in a report on Thursday, August 1st. Finally, Stifel Nicolaus reduced their target price on shares of Alphatec from $19.00 to $16.00 and set a “buy” rating for the company in a research report on Thursday, August 1st. One research analyst has rated the stock with a sell rating, one has issued a hold rating and eight have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $19.11.

Alphatec Stock Performance

The company has a 50-day simple moving average of $9.38 and a two-hundred day simple moving average of $11.74. The company has a quick ratio of 1.49, a current ratio of 2.22 and a debt-to-equity ratio of 30.21. 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 issued its quarterly earnings results on Wednesday, July 31st. The medical technology company reported ($0.29) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.26) by ($0.03). Alphatec had a negative return on equity of 816.57% and a negative net margin of 33.48%. The company had revenue of $145.57 million for the quarter, compared to analysts’ expectations of $144.55 million. During the same quarter in the previous year, the business earned ($0.43) EPS. The company’s revenue for the quarter was up 24.5% on a year-over-year basis. As a group, equities research analysts forecast that Alphatec Holdings, Inc. will post -1.04 earnings per share for the current year.

Insider Buying and Selling

In other Alphatec news, General Counsel Tyson Eliot Marshall sold 50,232 shares of Alphatec stock in a transaction on Wednesday, June 12th. The stock was sold at an average price of $10.88, for a total transaction of $546,524.16. Following the completion of the transaction, the general counsel now owns 245,638 shares in the company, valued at $2,672,541.44. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 22.80% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the company. Comerica Bank increased its position in shares of 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. Van ECK Associates Corp lifted its holdings in shares of Alphatec by 11.8% during the second quarter. Van ECK Associates Corp now owns 12,275 shares of the medical technology company’s stock worth $128,000 after purchasing an additional 1,300 shares during the period. Tidemark LLC purchased a new stake in shares of Alphatec in the fourth quarter worth about $137,000. EntryPoint Capital LLC acquired a new position in shares of Alphatec in the 1st quarter valued at $141,000. Finally, Amalgamated Bank raised its holdings in Alphatec by 7.3% in the 4th quarter. Amalgamated Bank now owns 9,720 shares of the medical technology company’s stock worth $147,000 after purchasing an additional 660 shares during the period. Institutional investors 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.