Alphatec (NASDAQ:ATEC) Sets New 1-Year Low – Should You Sell?

Alphatec Holdings, Inc. (NASDAQ:ATEC) reached a new 52-week low during mid-day trading on Thursday . The company traded as low as $10.09 and last traded at $10.1360, with a volume of 848643 shares. The stock had previously closed at $10.62.

Analysts Set New Price Targets

Several equities research analysts have issued reports on ATEC shares. Barclays raised their price objective on shares of Alphatec from $23.00 to $27.00 and gave the stock an “overweight” rating in a research report on Wednesday, January 7th. Needham & Company LLC reissued a “buy” rating and set a $22.00 price target on shares of Alphatec in a report on Monday, January 12th. Wells Fargo & Company upgraded Alphatec to a “strong-buy” rating in a research note on Wednesday, March 18th. Wall Street Zen upgraded Alphatec from a “hold” rating to a “buy” rating in a research report on Saturday, January 31st. Finally, Lake Street Capital reissued a “buy” rating on shares of Alphatec in a research report on Wednesday, February 25th. One investment analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, Alphatec has a consensus rating of “Moderate Buy” and an average target price of $22.82.

Alphatec Price Performance

The company’s 50-day moving average is $12.19 and its 200-day moving average is $16.11. The firm has a market cap of $1.55 billion, a price-to-earnings ratio of -10.72 and a beta of 1.12. The company has a current ratio of 2.06, a quick ratio of 1.28 and a debt-to-equity ratio of 40.35.

Alphatec (NASDAQ:ATEC) last released its earnings results on Tuesday, February 24th. The medical technology company reported $0.06 earnings per share for the quarter, topping the consensus estimate of $0.04 by $0.02. The business had revenue of $212.93 million for the quarter, compared to the consensus estimate of $212.67 million. During the same quarter in the previous year, the company earned ($0.23) earnings per share. The firm’s revenue for the quarter was up 20.4% on a year-over-year basis. Equities research analysts predict that Alphatec Holdings, Inc. will post -0.28 earnings per share for the current year.

Insiders Place Their Bets

In related news, EVP David Sponsel sold 163,452 shares of Alphatec stock in a transaction that occurred on Wednesday, March 11th. The shares were sold at an average price of $12.52, for a total transaction of $2,046,419.04. Following the sale, the executive vice president directly owned 504,932 shares of the company’s stock, valued at approximately $6,321,748.64. The trade was a 24.45% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Craig E. Hunsaker sold 82,765 shares of the company’s stock in a transaction that occurred on Monday, March 9th. The stock was sold at an average price of $12.45, for a total transaction of $1,030,424.25. Following the transaction, the executive vice president owned 1,726,209 shares of the company’s stock, valued at approximately $21,491,302.05. This represents a 4.58% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last ninety days, insiders sold 726,972 shares of company stock valued at $9,184,386. 20.90% of the stock is owned by corporate insiders.

Institutional Trading of Alphatec

A number of hedge funds and other institutional investors have recently modified their holdings of ATEC. Vanguard Group Inc. boosted its holdings in shares of Alphatec by 1.0% during the 4th quarter. Vanguard Group Inc. now owns 6,883,626 shares of the medical technology company’s stock valued at $144,831,000 after acquiring an additional 68,568 shares in the last quarter. American Century Companies Inc. raised its position in Alphatec by 2.6% in the third quarter. American Century Companies Inc. now owns 6,336,491 shares of the medical technology company’s stock valued at $92,133,000 after purchasing an additional 159,330 shares during the last quarter. Morgan Stanley boosted its stake in shares of Alphatec by 22.0% during the fourth quarter. Morgan Stanley now owns 4,340,936 shares of the medical technology company’s stock valued at $91,333,000 after purchasing an additional 784,191 shares in the last quarter. State Street Corp grew its holdings in shares of Alphatec by 6.4% during the fourth quarter. State Street Corp now owns 2,889,240 shares of the medical technology company’s stock worth $60,790,000 after purchasing an additional 174,287 shares during the last quarter. Finally, Geode Capital Management LLC increased its stake in shares of Alphatec by 1.2% in the fourth quarter. Geode Capital Management LLC now owns 2,828,026 shares of the medical technology company’s stock valued at $59,511,000 after buying an additional 32,465 shares during the period. Institutional investors own 66.35% of the company’s stock.

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.