Alphatec (NASDAQ:ATEC) Price Target Raised to $13.00

Alphatec (NASDAQ:ATEC) had its price objective increased by Piper Sandler from $12.00 to $13.00 in a report released on Thursday,Benzinga reports. They currently have an overweight rating on the medical technology company’s stock.

Other equities analysts have also issued research reports about the stock. Barclays boosted their target price on shares of Alphatec from $20.00 to $21.00 and gave the stock an “overweight” rating in a research report on Wednesday, January 22nd. HC Wainwright reaffirmed a “buy” rating and set a $20.00 target price on shares of Alphatec in a research report on Tuesday, January 14th. Finally, Needham & Company LLC reaffirmed a “buy” rating and set a $16.00 target price on shares of Alphatec in a research report on Thursday. Two equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to data from MarketBeat, Alphatec has a consensus rating of “Moderate Buy” and an average price target of $17.67.

Alphatec Price Performance

Shares of Alphatec stock opened at $12.53 on Thursday. The firm has a fifty day simple moving average of $10.70 and a 200-day simple moving average of $8.42. The company has a current ratio of 2.32, a quick ratio of 1.15 and a debt-to-equity ratio of 30.21. Alphatec has a 1-year low of $4.88 and a 1-year high of $14.88. The stock has a market capitalization of $1.78 billion, a price-to-earnings ratio of -9.79 and a beta of 1.43.

Alphatec (NASDAQ:ATEC) last issued its quarterly earnings data 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 return on equity of 541.39% and a negative net margin of 31.06%. The firm had revenue of $176.79 million during the quarter, compared to analyst estimates of $172.74 million. On average, sell-side analysts expect that Alphatec will post -1.08 earnings per share for the current year.

Insider Buying and Selling at Alphatec

In other Alphatec news, EVP David Sponsel sold 58,283 shares of the business’s stock in a transaction on Monday, January 13th. The shares were sold at an average price of $10.71, for a total value of $624,210.93. Following the sale, the executive vice president now owns 502,311 shares of the company’s stock, valued at $5,379,750.81. The trade was a 10.40 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Patrick Miles sold 6,687 shares of the business’s 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 completion of the sale, the chief executive officer now directly owns 5,501,715 shares in the company, valued at $66,020,580. This trade represents a 0.12 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 290,898 shares of company stock valued at $3,327,710 in the last 90 days. 22.80% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Alphatec

Several institutional investors and hedge funds have recently made changes to their positions in ATEC. Creative Planning boosted its stake in shares of Alphatec by 83.9% in the 3rd quarter. Creative Planning now owns 48,611 shares of the medical technology company’s stock valued at $270,000 after purchasing an additional 22,171 shares in the last quarter. Assenagon Asset Management S.A. boosted its stake in shares of Alphatec by 30.1% in the 3rd quarter. Assenagon Asset Management S.A. now owns 40,486 shares of the medical technology company’s stock valued at $225,000 after purchasing an additional 9,361 shares in the last quarter. Stephens Inc. AR boosted its stake in shares of Alphatec by 51.4% in the 3rd quarter. Stephens Inc. AR now owns 21,743 shares of the medical technology company’s stock valued at $121,000 after purchasing an additional 7,382 shares in the last quarter. Van ECK Associates Corp boosted its stake in shares of Alphatec by 57.0% in the 3rd quarter. Van ECK Associates Corp now owns 19,273 shares of the medical technology company’s stock valued at $99,000 after purchasing an additional 6,998 shares in the last quarter. Finally, Fernwood Investment Management LLC boosted its stake in shares of Alphatec by 28.6% in the 3rd quarter. Fernwood Investment Management LLC now owns 91,287 shares of the medical technology company’s stock valued at $508,000 after purchasing an additional 20,300 shares in the last quarter. Institutional investors and hedge funds 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.