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

HC Wainwright restated their buy rating on shares of Alphatec (NASDAQ:ATEC) in a report released on Monday morning,Benzinga reports. They currently have a $20.00 target price on the medical technology company’s stock.

A number of other research analysts also recently weighed in on ATEC. Piper Sandler increased their price objective on shares of Alphatec from $12.00 to $13.00 and gave the company an “overweight” rating in a research 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. Barclays boosted their price objective on Alphatec from $20.00 to $21.00 and gave the company an “overweight” rating in a research report on Wednesday, January 22nd. Finally, Needham & Company LLC restated a “buy” rating and set a $16.00 target price on shares of Alphatec in a research report on Thursday, February 27th. Two equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $17.67.

Alphatec Stock Up 3.2 %

Shares of Alphatec stock opened at $10.23 on Monday. The company’s 50 day moving average price is $10.38 and its 200-day moving average price is $9.38. Alphatec has a 52-week low of $4.88 and a 52-week high of $13.79. The stock has a market capitalization of $1.47 billion, a price-to-earnings ratio of -7.99 and a beta of 1.20. The company has a debt-to-equity ratio of 30.21, a quick ratio of 1.15 and a current ratio of 2.32.

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

Insiders Place Their Bets

In other news, EVP David Sponsel sold 36,256 shares of Alphatec stock in a transaction that occurred on Monday, February 3rd. The shares were sold at an average price of $11.42, for a total transaction of $414,043.52. Following the sale, the executive vice president now owns 735,074 shares of the company’s stock, valued at approximately $8,394,545.08. The trade was a 4.70 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Patrick Miles sold 50,000 shares of Alphatec stock in a transaction dated Wednesday, January 29th. The shares were sold at an average price of $12.03, for a total transaction of $601,500.00. Following the sale, the chief executive officer now owns 6,152,544 shares of the company’s stock, valued at approximately $74,015,104.32. This represents a 0.81 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders 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

Institutional investors have recently modified their holdings of the business. R Squared Ltd purchased a new stake in Alphatec during the 4th quarter worth about $29,000. Comerica Bank grew its stake in shares of Alphatec by 66.8% in the 4th quarter. Comerica Bank now owns 3,116 shares of the medical technology company’s stock valued at $29,000 after purchasing an additional 1,248 shares during the last quarter. Nisa Investment Advisors LLC increased its stake in Alphatec by 973.3% in the 4th quarter. Nisa Investment Advisors LLC now owns 4,669 shares of the medical technology company’s stock valued at $43,000 after buying an additional 4,234 shares during the period. Quarry LP raised its holdings in Alphatec by 79.2% during the fourth quarter. Quarry LP now owns 5,374 shares of the medical technology company’s stock worth $49,000 after purchasing an additional 2,375 shares in the last quarter. Finally, Newton One Investments LLC purchased a new position in Alphatec in the fourth quarter worth $50,000. 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.