Alphatec (NASDAQ:ATEC) Shares Gap Down - Time to Sell?

Alphatec Holdings, Inc. (NASDAQ:ATEC - Get Free Report) gapped down before the market opened on Thursday . The stock had previously closed at $11.44, but opened at $10.66. Alphatec shares last traded at $10.96, with a volume of 694,934 shares trading hands.

Analysts Set New Price Targets

Several research firms have recently commented on ATEC. Needham & Company LLC reaffirmed a "buy" rating and issued a $16.00 price objective on shares of Alphatec in a report on Thursday, February 27th. StockNews.com raised shares of Alphatec from a "sell" rating to a "hold" rating in a report on Friday, February 28th. Piper Sandler lifted their target price on shares of Alphatec from $12.00 to $13.00 and gave the company an "overweight" rating in a report on Thursday, February 27th. Barclays increased their price target on shares of Alphatec from $20.00 to $21.00 and gave the stock an "overweight" rating in a report on Wednesday, January 22nd. Finally, HC Wainwright reissued a "buy" rating and set a $20.00 target price on shares of Alphatec in a research note on Tuesday, January 14th. Two investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $17.67.

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Alphatec Stock Down 7.6 %

The company has a debt-to-equity ratio of 30.21, a current ratio of 2.32 and a quick ratio of 1.15. The business's 50 day moving average price is $10.91 and its 200 day moving average price is $8.64. The firm has a market cap of $1.39 billion, a PE ratio of -7.55 and a beta of 1.39.

Alphatec (NASDAQ:ATEC - Get Free Report) last posted its quarterly earnings data on Wednesday, February 26th. The medical technology company reported ($0.23) EPS for the quarter, missing the consensus estimate of ($0.19) by ($0.04). The firm had revenue of $176.79 million for the quarter, compared to analysts' expectations of $172.74 million. Alphatec had a negative return on equity of 541.39% and a negative net margin of 31.06%. On average, equities research analysts expect that Alphatec Holdings, Inc. will post -1.08 earnings per share for the current year.

Insider Buying and Selling at Alphatec

In other news, EVP David Sponsel sold 36,256 shares of the company's stock in a transaction that occurred on Monday, February 3rd. The stock was sold at an average price of $11.42, for a total value of $414,043.52. Following the completion of the sale, the executive vice president now directly owns 735,074 shares in the company, valued at $8,394,545.08. This represents a 4.70 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Patrick Miles sold 6,687 shares of the stock in a transaction that occurred on Tuesday, January 21st. The shares were sold at an average price of $12.00, for a total value of $80,244.00. Following the completion of the sale, the chief executive officer now directly owns 5,501,715 shares of the company's stock, valued at approximately $66,020,580. This represents a 0.12 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 337,321 shares of company stock worth $3,828,060. Corporate insiders own 22.80% of the company's stock.

Institutional Trading of Alphatec

Large investors have recently added to or reduced their stakes in the stock. Royal Bank of Canada raised its holdings in shares of Alphatec by 171.2% during the 4th quarter. Royal Bank of Canada now owns 3,185,283 shares of the medical technology company's stock worth $29,240,000 after acquiring an additional 2,010,806 shares during the period. American Century Companies Inc. boosted its holdings in Alphatec by 36.5% in the 4th quarter. American Century Companies Inc. now owns 4,989,057 shares of the medical technology company's stock valued at $45,800,000 after purchasing an additional 1,334,780 shares during the last quarter. Nuveen Asset Management LLC grew its stake in shares of Alphatec by 78.4% in the 4th quarter. Nuveen Asset Management LLC now owns 2,584,996 shares of the medical technology company's stock valued at $23,730,000 after buying an additional 1,136,330 shares during the period. Marshall Wace LLP increased its holdings in shares of Alphatec by 139.2% during the 4th quarter. Marshall Wace LLP now owns 1,773,246 shares of the medical technology company's stock worth $16,278,000 after buying an additional 1,032,070 shares during the last quarter. Finally, Emerald Advisers LLC raised its position in shares of Alphatec by 112.4% during the 4th quarter. Emerald Advisers LLC now owns 1,456,033 shares of the medical technology company's stock valued at $13,366,000 after buying an additional 770,586 shares during the period. 66.35% of the stock is currently owned by hedge funds and other institutional investors.

About Alphatec

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.