Alphatec (NASDAQ:ATEC) PT Lowered to $18.00

Alphatec (NASDAQ:ATEC) had its target price decreased by equities researchers at Lake Street Capital from $32.00 to $18.00 in a research note issued on Tuesday, Benzinga reports. The brokerage presently has a “buy” rating on the medical technology company’s stock. Lake Street Capital’s target price indicates a potential upside of 166.67% from the company’s previous close.

Other equities research analysts have also issued research reports about the stock. Needham & Company LLC decreased their price objective on shares of Alphatec from $23.00 to $13.00 and set a “buy” rating on the stock in a report on Thursday, August 22nd. Piper Sandler cut their price target on shares of Alphatec from $17.00 to $12.00 and set an “overweight” rating on the stock in a research report on Thursday, August 1st. Stifel Nicolaus dropped their target price on shares of Alphatec from $19.00 to $16.00 and set a “buy” rating on the stock in a report on Thursday, August 1st. Morgan Stanley downgraded shares of Alphatec from an “overweight” rating to an “equal weight” rating in a report on Thursday, August 1st. Finally, Barclays assumed coverage on shares of Alphatec in a research report on Monday, July 8th. They issued an “overweight” rating and a $19.00 price objective on the stock. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $17.50.

Alphatec Trading Down 0.7 %

Shares of ATEC stock opened at $6.75 on Tuesday. Alphatec has a 52-week low of $5.57 and a 52-week high of $17.34. The stock has a market cap of $944.22 million, a price-to-earnings ratio of -4.53 and a beta of 1.40. The company has a debt-to-equity ratio of 30.21, a quick ratio of 1.21 and a current ratio of 2.22. The firm has a fifty day moving average of $8.49 and a 200-day moving average of $11.01.

Alphatec (NASDAQ:ATEC) last posted its earnings results on Wednesday, July 31st. The medical technology company reported ($0.29) earnings per share for the quarter, missing the consensus estimate of ($0.26) by ($0.03). Alphatec had a negative return on equity of 816.57% and a negative net margin of 33.48%. The firm had revenue of $145.57 million during the quarter, compared to the consensus estimate of $144.55 million. During the same period in the previous year, the company posted ($0.43) EPS. The firm’s revenue for the quarter was up 24.5% compared to the same quarter last year. On average, equities research analysts forecast that Alphatec will post -1.08 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, Director David M. Demski acquired 50,000 shares of the firm’s stock in a transaction on Wednesday, August 21st. The shares were purchased at an average cost of $5.67 per share, for a total transaction of $283,500.00. Following the completion of the acquisition, the director now directly owns 288,441 shares in the company, valued at $1,635,460.47. The purchase was disclosed in a filing with the SEC, which is available at this link. In related news, General Counsel Tyson Eliot Marshall sold 50,232 shares of the company’s stock in a transaction dated Wednesday, June 12th. The shares were sold at an average price of $10.88, for a total transaction of $546,524.16. Following the completion of the sale, the general counsel now owns 245,638 shares of the company’s stock, valued at $2,672,541.44. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director David M. Demski acquired 50,000 shares of the business’s stock in a transaction that occurred on Wednesday, August 21st. The shares were purchased at an average cost of $5.67 per share, with a total value of $283,500.00. Following the transaction, the director now directly owns 288,441 shares of the company’s stock, valued at $1,635,460.47. The disclosure for this purchase can be found here. 22.80% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. Russell Investments Group Ltd. increased its stake in shares of Alphatec by 2.3% in the fourth quarter. Russell Investments Group Ltd. now owns 392,472 shares of the medical technology company’s stock valued at $5,930,000 after buying an additional 9,008 shares during the period. Swiss National Bank lifted its holdings in shares of Alphatec by 9.7% in the 4th quarter. Swiss National Bank now owns 185,700 shares of the medical technology company’s stock worth $2,806,000 after purchasing an additional 16,400 shares in the last quarter. Amalgamated Bank lifted its holdings in shares of Alphatec by 7.3% in the 4th quarter. Amalgamated Bank now owns 9,720 shares of the medical technology company’s stock worth $147,000 after purchasing an additional 660 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in shares of Alphatec by 20.2% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 746,781 shares of the medical technology company’s stock worth $11,284,000 after purchasing an additional 125,488 shares in the last quarter. Finally, Cullen Frost Bankers Inc. lifted its stake in Alphatec by 18.9% during the 4th quarter. Cullen Frost Bankers Inc. now owns 42,697 shares of the medical technology company’s stock valued at $645,000 after acquiring an additional 6,785 shares in the last quarter. Institutional investors 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.