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 to clients and investors on Monday,Benzinga reports. They presently have a $20.00 price target on the medical technology company’s stock. HC Wainwright’s price target suggests a potential upside of 105.13% from the stock’s current price.

A number of other analysts also recently weighed in on ATEC. Needham & Company LLC reaffirmed a “buy” rating and set a $16.00 price target on shares of Alphatec in a report on Thursday, February 27th. StockNews.com raised Alphatec from a “sell” rating to a “hold” rating in a report on Friday, February 28th. Barclays boosted their price target on Alphatec from $20.00 to $21.00 and gave the stock an “overweight” rating in a report on Wednesday, January 22nd. Finally, Piper Sandler raised their price objective on Alphatec from $12.00 to $13.00 and gave the company an “overweight” rating in a research note on Thursday, February 27th. Two analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $17.67.

Alphatec Trading Up 2.3 %

Shares of ATEC stock opened at $9.75 on Monday. The stock has a market cap of $1.41 billion, a P/E ratio of -7.62 and a beta of 1.20. Alphatec has a 1 year low of $4.88 and a 1 year high of $13.79. The company has a current ratio of 2.32, a quick ratio of 1.15 and a debt-to-equity ratio of 30.21. The stock has a 50 day simple moving average of $10.47 and a 200 day simple moving average of $9.34.

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

Insider Buying and Selling at Alphatec

In other Alphatec news, CEO Patrick Miles sold 6,687 shares of the company’s stock in a transaction dated Tuesday, January 21st. The stock was sold at an average price of $12.00, for a total value of $80,244.00. Following the sale, the chief executive officer now owns 5,501,715 shares in the company, valued at approximately $66,020,580. The trade was a 0.12 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, EVP David Sponsel sold 36,256 shares of the firm’s stock in a transaction dated Monday, February 3rd. The stock was sold at an average price of $11.42, for a total value of $414,043.52. Following the transaction, the executive vice president now owns 735,074 shares of the company’s stock, valued at $8,394,545.08. This trade represents a 4.70 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 278,800 shares of company stock worth $3,201,469. 22.80% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Alphatec

Large investors have recently modified their holdings of the company. R Squared Ltd acquired a new stake in Alphatec during the 4th quarter worth about $29,000. Comerica Bank grew its stake in Alphatec by 66.8% during the fourth quarter. Comerica Bank now owns 3,116 shares of the medical technology company’s stock worth $29,000 after purchasing an additional 1,248 shares during the period. Nisa Investment Advisors LLC increased its holdings in Alphatec by 973.3% in the fourth quarter. Nisa Investment Advisors LLC now owns 4,669 shares of the medical technology company’s stock worth $43,000 after purchasing an additional 4,234 shares in the last quarter. Quarry LP lifted its stake in Alphatec by 79.2% in the fourth quarter. Quarry LP now owns 5,374 shares of the medical technology company’s stock valued at $49,000 after buying an additional 2,375 shares during the period. Finally, Newton One Investments LLC bought a new position in shares of Alphatec during the 4th quarter worth approximately $50,000. 66.35% of the stock is currently owned by institutional investors and hedge funds.

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.