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

HC Wainwright reissued their buy rating on shares of Alphatec (NASDAQ:ATEC) in a research note released on Thursday, Benzinga reports. HC Wainwright currently has a $20.00 price target on the medical technology company’s stock.

Several other analysts have also commented on the stock. Barclays initiated 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. Stifel Nicolaus lowered their price target on shares of Alphatec from $19.00 to $16.00 and set a “buy” rating on the stock in a research report on Thursday, August 1st. Wells Fargo & Company lowered their price target on shares of Alphatec from $26.00 to $19.00 and set an “overweight” rating on the stock in a research report on Thursday, August 1st. Piper Sandler lowered 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. Finally, Needham & Company LLC reissued a “buy” rating and issued a $13.00 price target on shares of Alphatec in a research report on Thursday. One research analyst has rated the stock with a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat.com, Alphatec presently has an average rating of “Moderate Buy” and a consensus target price of $17.00.

Alphatec Stock Performance

Shares of ATEC stock opened at $8.11 on Thursday. The firm has a market cap of $1.14 billion, a price-to-earnings ratio of -6.34 and a beta of 1.39. The company has a debt-to-equity ratio of 30.21, a quick ratio of 1.21 and a current ratio of 2.22. Alphatec has a 52 week low of $4.88 and a 52 week high of $17.34. The firm’s 50-day simple moving average is $5.82 and its two-hundred day simple moving average is $8.65.

Alphatec (NASDAQ:ATEC) last announced its quarterly earnings data on Wednesday, July 31st. The medical technology company reported ($0.29) EPS for the quarter, missing the consensus estimate of ($0.26) by ($0.03). The company had revenue of $145.57 million during the quarter, compared to the consensus estimate of $144.55 million. Alphatec had a negative return on equity of 401.88% and a negative net margin of 31.06%. The business’s revenue was up 24.5% on a year-over-year basis. During the same period in the prior year, the firm posted ($0.43) EPS. As a group, equities analysts forecast that Alphatec will post -1.08 earnings per share for the current year.

Insider Activity at Alphatec

In other news, Director David M. Demski acquired 50,000 shares of Alphatec stock in a transaction that occurred on Wednesday, August 21st. The stock was bought at an average price of $5.67 per share, with a total value of $283,500.00. Following the completion of the purchase, the director now owns 288,441 shares in the company, valued at approximately $1,635,460.47. The trade was a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through this link. 22.80% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Alphatec

Several hedge funds have recently bought and sold shares of ATEC. Principal Financial Group Inc. grew its stake in Alphatec by 15.7% in the 1st quarter. Principal Financial Group Inc. now owns 320,530 shares of the medical technology company’s stock worth $4,420,000 after buying an additional 43,530 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. grew its stake in Alphatec by 7.5% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 48,031 shares of the medical technology company’s stock worth $662,000 after buying an additional 3,363 shares in the last quarter. BNP Paribas Financial Markets grew its stake in Alphatec by 276.1% in the 1st quarter. BNP Paribas Financial Markets now owns 99,790 shares of the medical technology company’s stock worth $1,376,000 after buying an additional 73,257 shares in the last quarter. RiverPark Advisors LLC grew its stake in Alphatec by 286.3% in the 1st quarter. RiverPark Advisors LLC now owns 19,443 shares of the medical technology company’s stock worth $268,000 after buying an additional 14,410 shares in the last quarter. Finally, Essex Investment Management Co. LLC grew its stake in Alphatec by 1.5% in the 1st quarter. Essex Investment Management Co. LLC now owns 270,968 shares of the medical technology company’s stock worth $3,737,000 after buying an additional 4,112 shares in 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.