Alphatec (NASDAQ:ATEC) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a report released on Friday.

According to Zacks, “Alphatec Holdings, Inc. is a medical technology company focused on the design, development, manufacturing and marketing of products for the surgical treatment of spine disorders. The Company’s principal product offering includes a variety of spinal implant products and systems consisted of components, such as spine screws and rods, spinal spacers, plates, and various biologics offerings. Alphatec Holdings, Inc. is headquartered in Carlsbad, California. “

Several other brokerages have also recently weighed in on ATEC. ValuEngine raised shares of Alphatec from a “sell” rating to a “hold” rating in a research report on Wednesday, January 2nd. HC Wainwright reissued a “buy” rating and set a $4.00 price target on shares of Alphatec in a research report on Monday, January 14th.

Shares of Alphatec stock opened at $2.92 on Friday. Alphatec has a 52-week low of $1.18 and a 52-week high of $4.21. The firm has a market capitalization of $126.18 million, a PE ratio of -5.03 and a beta of 1.14. The company has a debt-to-equity ratio of 1.42, a current ratio of 2.36 and a quick ratio of 1.48.

Alphatec (NASDAQ:ATEC) last announced its quarterly earnings data on Thursday, March 7th. The medical technology company reported ($0.15) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.12) by ($0.03). The business had revenue of $25.34 million during the quarter. Alphatec had a negative net margin of 31.60% and a negative return on equity of 85.82%. As a group, equities research analysts forecast that Alphatec will post -0.45 EPS for the current year.

In other news, Director Evan Bakst purchased 20,566 shares of the company’s stock in a transaction on Monday, March 11th. The stock was acquired at an average price of $2.59 per share, with a total value of $53,265.94. Following the transaction, the director now directly owns 726,912 shares of the company’s stock, valued at approximately $1,882,702.08. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Kelli Mari Howell purchased 100,000 shares of the company’s stock in a transaction on Monday, March 11th. The shares were purchased at an average cost of $2.59 per share, with a total value of $259,000.00. The disclosure for this purchase can be found here. Corporate insiders own 44.40% of the company’s stock.

Institutional investors and hedge funds have recently made changes to their positions in the business. Beacon Pointe Wealth Advisors LLC purchased a new stake in Alphatec during the 4th quarter valued at $36,000. JPMorgan Chase & Co. bought a new position in Alphatec in the 3rd quarter worth $165,000. Renaissance Technologies LLC raised its holdings in Alphatec by 20.3% in the 3rd quarter. Renaissance Technologies LLC now owns 583,145 shares of the medical technology company’s stock worth $1,965,000 after purchasing an additional 98,500 shares in the last quarter. PNC Financial Services Group Inc. bought a new position in Alphatec in the 3rd quarter worth $548,000. Finally, Vanguard Group Inc raised its holdings in Alphatec by 57.4% in the 3rd quarter. Vanguard Group Inc now owns 684,865 shares of the medical technology company’s stock worth $2,308,000 after purchasing an additional 249,632 shares in the last quarter. 18.57% of the stock is owned by institutional investors and hedge funds.

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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