Alphatec’s (ATEC) Buy Rating Reiterated at HC Wainwright

Alphatec (NASDAQ:ATEC)‘s stock had its “buy” rating restated by analysts at HC Wainwright in a research report issued on Monday,Benzinga reports. They currently have a $20.00 target price on the medical technology company’s stock. HC Wainwright’s price objective would indicate a potential upside of 101.82% from the stock’s current price.

Several other analysts also recently commented on ATEC. Barclays boosted their target price on shares of Alphatec from $20.00 to $21.00 and gave the stock an “overweight” rating in a research report on Wednesday, January 22nd. StockNews.com upgraded shares of Alphatec from a “sell” rating to a “hold” rating in a report on Friday, February 28th. Piper Sandler raised their target price on Alphatec from $12.00 to $13.00 and gave the company an “overweight” rating in a report on Thursday, February 27th. Finally, Needham & Company LLC reaffirmed a “buy” rating and issued a $16.00 price target on shares of Alphatec in a research report on Thursday, February 27th. Two analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $17.67.

Alphatec Price Performance

ATEC opened at $9.91 on Monday. The stock has a fifty day moving average price of $10.41 and a 200 day moving average price of $9.38. The company has a current ratio of 2.32, a quick ratio of 1.15 and a debt-to-equity ratio of 30.21. Alphatec has a 1 year low of $4.88 and a 1 year high of $13.79. The stock has a market cap of $1.43 billion, a price-to-earnings ratio of -7.74 and a beta of 1.20.

Alphatec (NASDAQ:ATEC) last announced its quarterly earnings results on Wednesday, February 26th. The medical technology company reported ($0.23) earnings per share (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 analyst estimates of $172.74 million. Alphatec had a negative net margin of 31.06% and a negative return on equity of 541.39%. Analysts forecast that Alphatec will post -1.08 EPS for the current fiscal year.

Insider Transactions at Alphatec

In related news, CEO Patrick Miles sold 12,691 shares of the stock in a transaction dated Friday, March 7th. The shares were sold at an average price of $10.64, for a total value of $135,032.24. Following the completion of the sale, the chief executive officer now owns 5,857,603 shares in the company, valued at approximately $62,324,895.92. This trade represents a 0.22 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP David Sponsel sold 36,256 shares of Alphatec 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 sale, the executive vice president now directly owns 735,074 shares in the company, valued at $8,394,545.08. The trade was a 4.70 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 278,800 shares of company stock worth $3,201,469. Company insiders own 22.80% of the company’s stock.

Hedge Funds Weigh In On Alphatec

Hedge funds have recently made changes to their positions in the business. Barclays PLC boosted its stake in Alphatec by 362.3% in 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 in the last quarter. Franklin Resources Inc. increased its stake in shares of Alphatec by 299.3% in the third quarter. Franklin Resources Inc. now owns 64,450 shares of the medical technology company’s stock valued at $343,000 after buying an additional 48,308 shares in the last quarter. 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 valued at $17,453,000 after acquiring an additional 287,350 shares in the last quarter. Congress Asset Management Co. grew its stake in shares of Alphatec by 235.4% during the fourth quarter. Congress Asset Management Co. now owns 434,966 shares of the medical technology company’s stock valued at $3,993,000 after purchasing an additional 305,296 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in Alphatec by 3.0% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 201,672 shares of the medical technology company’s stock valued at $1,121,000 after buying an additional 5,883 shares during the last quarter. Institutional investors and hedge funds own 66.35% of the company’s stock.

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.