Alphatec (NASDAQ:ATEC) Cut to “Hold” at ValuEngine

Alphatec (NASDAQ:ATEC) was downgraded by investment analysts at ValuEngine from a “buy” rating to a “hold” rating in a report released on Tuesday, ValuEngine reports.

Other research analysts have also issued reports about the company. Zacks Investment Research lowered Alphatec from a “buy” rating to a “hold” rating in a research note on Tuesday, November 5th. Canaccord Genuity started coverage on shares of Alphatec in a research note on Wednesday, August 28th. They set a “buy” rating and a $7.00 price target on the stock. Lake Street Capital boosted their price target on shares of Alphatec from $7.00 to $10.00 and gave the company a “buy” rating in a report on Thursday, October 31st. Piper Jaffray Companies raised their price objective on shares of Alphatec from $7.00 to $9.00 and gave the stock an “overweight” rating in a report on Thursday, October 31st. Finally, HC Wainwright lifted their target price on shares of Alphatec from $4.00 to $6.00 and gave the company a “buy” rating in a research report on Tuesday, August 6th. Two analysts have rated the stock with a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company’s stock. Alphatec presently has a consensus rating of “Buy” and a consensus target price of $7.90.

Shares of ATEC opened at $6.85 on Tuesday. The stock’s 50-day moving average price is $6.51 and its 200 day moving average price is $5.29. The company has a quick ratio of 2.67, a current ratio of 3.72 and a debt-to-equity ratio of 0.91. The firm has a market capitalization of $432.60 million, a price-to-earnings ratio of -11.81 and a beta of 1.56. Alphatec has a 12-month low of $1.18 and a 12-month high of $7.68.

Alphatec (NASDAQ:ATEC) last announced its quarterly earnings data on Wednesday, October 30th. The medical technology company reported ($0.26) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.23) by ($0.03). Alphatec had a negative return on equity of 151.54% and a negative net margin of 47.55%. The firm had revenue of $29.20 million during the quarter, compared to the consensus estimate of $26.85 million. Equities research analysts expect that Alphatec will post -0.92 EPS for the current year.

In related news, EVP Craig E. Hunsaker sold 12,000 shares of the stock in a transaction dated Monday, November 4th. The shares were sold at an average price of $7.00, for a total transaction of $84,000.00. Following the completion of the sale, the executive vice president now owns 844,768 shares in the company, valued at approximately $5,913,376. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Craig E. Hunsaker sold 32,000 shares of Alphatec stock in a transaction dated Monday, November 18th. The shares were sold at an average price of $7.25, for a total transaction of $232,000.00. Following the transaction, the executive vice president now directly owns 797,448 shares of the company’s stock, valued at $5,781,498. The disclosure for this sale can be found here. Insiders have sold a total of 76,000 shares of company stock valued at $532,000 in the last 90 days. 34.32% of the stock is owned by corporate insiders.

A number of large investors have recently added to or reduced their stakes in the business. Royal Bank of Canada raised its position in Alphatec by 143.2% in the 2nd quarter. Royal Bank of Canada now owns 6,686 shares of the medical technology company’s stock valued at $30,000 after purchasing an additional 3,937 shares during the last quarter. Lindbrook Capital LLC grew its holdings in shares of Alphatec by 40.0% during the third quarter. Lindbrook Capital LLC now owns 7,000 shares of the medical technology company’s stock worth $35,000 after purchasing an additional 2,000 shares during the last quarter. JPMorgan Chase & Co. bought a new stake in shares of Alphatec during the second quarter worth $36,000. Advisor Group Inc. bought a new stake in shares of Alphatec during the second quarter worth $36,000. Finally, Russell Investments Group Ltd. acquired a new stake in shares of Alphatec in the second quarter valued at $40,000. Hedge funds and other institutional investors own 38.05% of the company’s stock.

About Alphatec

Alphatec Holdings, Inc, a medical technology company, focuses on the design, development, and promotion of products for the surgical treatment of spine disorders. Its product portfolio and pipeline address the cervical, thoracolumbar, and intervertebral regions of the spine; and cover various spinal disorders and surgical procedures.

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