Alphatec (NASDAQ:ATEC) Shares Down 3.5% – What’s Next?

Alphatec Holdings, Inc. (NASDAQ:ATEC)’s share price fell 3.5% during mid-day trading on Monday . The stock traded as low as $9.71 and last traded at $9.71. 68,184 shares were traded during mid-day trading, a decline of 97% from the average session volume of 1,951,606 shares. The stock had previously closed at $10.06.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on ATEC shares. Barclays increased their price objective on Alphatec from $19.00 to $20.00 and gave the company an “overweight” rating in a research report on Tuesday, November 19th. Canaccord Genuity Group reiterated a “buy” rating and issued a $20.00 price target on shares of Alphatec in a research report on Friday, August 30th. Morgan Stanley cut Alphatec from an “overweight” rating to an “equal weight” rating in a research note on Thursday, August 1st. Piper Sandler reduced their price objective on shares of Alphatec from $17.00 to $12.00 and set an “overweight” rating for the company in a research note on Thursday, August 1st. Finally, Needham & Company LLC reissued a “buy” rating and issued a $13.00 target price on shares of Alphatec in a research report on Thursday, October 31st. One research analyst has rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat.com, Alphatec presently has a consensus rating of “Moderate Buy” and an average target price of $17.11.

Alphatec Trading Down 0.1 %

The company has a 50 day simple moving average of $6.86 and a two-hundred day simple moving average of $8.19. The company has a debt-to-equity ratio of 30.21, a quick ratio of 1.15 and a current ratio of 2.32. The company has a market cap of $1.36 billion, a PE ratio of -7.51 and a beta of 1.31.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in ATEC. Barclays PLC boosted its stake in shares of Alphatec by 362.3% during the 3rd quarter. Barclays PLC now owns 170,546 shares of the medical technology company’s stock valued at $948,000 after buying an additional 133,653 shares during the period. Invst LLC raised its holdings in shares of Alphatec by 3.7% during the third quarter. Invst LLC now owns 158,549 shares of the medical technology company’s stock worth $882,000 after acquiring an additional 5,630 shares in the last quarter. Y Intercept Hong Kong Ltd acquired a new stake in Alphatec during the third quarter valued at $147,000. XTX Topco Ltd purchased a new position in Alphatec in the third quarter valued at about $69,000. Finally, State Street Corp increased its position in Alphatec by 10.1% in the 3rd quarter. State Street Corp now owns 3,138,960 shares of the medical technology company’s stock worth $17,453,000 after purchasing an additional 287,350 shares during the last quarter. 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.