Alphatec (NASDAQ:ATEC) Receives Buy Rating from HC Wainwright

HC Wainwright reissued their buy rating on shares of Alphatec (NASDAQ:ATEC) in a research report sent to investors on Monday,Benzinga reports. The brokerage currently has a $20.00 target price on the medical technology company’s stock.

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

Alphatec Stock Performance

Shares of ATEC opened at $10.18 on Monday. The company has a debt-to-equity ratio of 30.21, a quick ratio of 1.15 and a current ratio of 2.32. The stock has a 50-day moving average of $10.44 and a two-hundred day moving average of $9.37. The stock has a market cap of $1.47 billion, a P/E ratio of -7.95 and a beta of 1.20. Alphatec has a one year low of $4.88 and a one year high of $13.79.

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

Insider Buying and Selling at Alphatec

In other Alphatec news, CEO Patrick Miles sold 6,687 shares of Alphatec stock in a transaction on Tuesday, January 21st. The shares were sold at an average price of $12.00, for a total transaction of $80,244.00. Following the sale, the chief executive officer now owns 5,501,715 shares of the company’s stock, valued at $66,020,580. The trade was a 0.12 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP David Sponsel sold 36,256 shares of the stock in a transaction dated Monday, February 3rd. The shares were sold at an average price of $11.42, for a total transaction of $414,043.52. Following the completion of the sale, 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. Insiders have sold a total of 278,800 shares of company stock valued at $3,201,469 over the last ninety days. Corporate insiders own 22.80% of the company’s stock.

Institutional Trading of Alphatec

Several large investors have recently bought and sold shares of ATEC. BNP Paribas Financial Markets increased its position in Alphatec by 73.7% during the third quarter. BNP Paribas Financial Markets now owns 21,603 shares of the medical technology company’s stock worth $120,000 after purchasing an additional 9,165 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in Alphatec by 3.0% in the third 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 worth $1,121,000 after acquiring an additional 5,883 shares during the period. HighTower Advisors LLC increased its stake in Alphatec by 16.2% during the third quarter. HighTower Advisors LLC now owns 52,232 shares of the medical technology company’s stock worth $290,000 after acquiring an additional 7,299 shares during the last quarter. Stifel Financial Corp lifted its stake in shares of Alphatec by 19.7% in the 3rd quarter. Stifel Financial Corp now owns 178,702 shares of the medical technology company’s stock valued at $994,000 after purchasing an additional 29,411 shares during the last quarter. Finally, State Street Corp increased its position in shares of Alphatec by 10.1% during the 3rd quarter. State Street Corp now owns 3,138,960 shares of the medical technology company’s stock worth $17,453,000 after purchasing an additional 287,350 shares during the last quarter. Hedge funds and other institutional investors 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.