Alphatec (NASDAQ:ATEC) PT Lowered to $17.00

Alphatec (NASDAQ:ATEC) had its target price lowered by investment analysts at Piper Sandler from $19.00 to $17.00 in a research report issued on Wednesday, Benzinga reports. The brokerage currently has an “overweight” rating on the medical technology company’s stock. Piper Sandler’s target price would indicate a potential upside of 49.91% from the company’s previous close.

A number of other analysts also recently weighed in on ATEC. Wells Fargo & Company assumed coverage on shares of Alphatec in a research report on Friday, February 9th. They issued an “overweight” rating and a $26.00 price target on the stock. HC Wainwright reaffirmed a “buy” rating and set a $20.00 price objective on shares of Alphatec in a research report on Monday, March 4th. Canaccord Genuity Group restated a “buy” rating and issued a $25.00 target price on shares of Alphatec in a research note on Wednesday, March 20th. Finally, Needham & Company LLC reissued a “buy” rating and issued a $23.00 price objective on shares of Alphatec in a research report on Wednesday. One analyst has rated the stock with a sell rating and eight have given a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $22.89.

Alphatec Trading Up 7.0 %

ATEC opened at $11.34 on Wednesday. Alphatec has a fifty-two week low of $8.66 and a fifty-two week high of $19.14. The company has a market cap of $1.59 billion, a price-to-earnings ratio of -7.32 and a beta of 1.48. The company has a debt-to-equity ratio of 6.54, a current ratio of 2.86 and a quick ratio of 1.99. The firm has a 50 day simple moving average of $13.21 and a 200 day simple moving average of $13.53.

Alphatec (NASDAQ:ATEC) last issued its earnings results on Tuesday, May 7th. The medical technology company reported ($0.34) EPS for the quarter, missing the consensus estimate of ($0.33) by ($0.01). The business had revenue of $138.48 million for the quarter, compared to the consensus estimate of $134.07 million. During the same period last year, the firm earned ($0.40) EPS. The business’s revenue was up 26.9% on a year-over-year basis. On average, sell-side analysts anticipate that Alphatec will post -1.1 earnings per share for the current year.

Insiders Place Their Bets

In related news, General Counsel Tyson Eliot Marshall sold 11,825 shares of Alphatec stock in a transaction dated Friday, March 1st. The stock was sold at an average price of $13.30, for a total transaction of $157,272.50. Following the completion of the transaction, the general counsel now owns 305,095 shares in the company, valued at $4,057,763.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other Alphatec news, EVP David Sponsel sold 2,500 shares of the stock in a transaction dated Wednesday, February 14th. The shares were sold at an average price of $16.16, for a total value of $40,400.00. Following the transaction, the executive vice president now directly owns 637,418 shares of the company’s stock, valued at approximately $10,300,674.88. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, General Counsel Tyson Eliot Marshall sold 11,825 shares of the stock in a transaction that occurred on Friday, March 1st. The stock was sold at an average price of $13.30, for a total value of $157,272.50. Following the transaction, the general counsel now owns 305,095 shares in the company, valued at approximately $4,057,763.50. The disclosure for this sale can be found here. Over the last three months, insiders have sold 285,069 shares of company stock valued at $3,971,495. 29.12% of the stock is currently owned by corporate insiders.

Institutional Trading of Alphatec

Institutional investors have recently added to or reduced their stakes in the company. First Light Asset Management LLC increased its position in shares of Alphatec by 97.0% in the fourth quarter. First Light Asset Management LLC now owns 5,976,851 shares of the medical technology company’s stock worth $90,310,000 after purchasing an additional 2,943,310 shares during the period. Vanguard Group Inc. raised its position in shares of Alphatec by 1.8% in the 3rd quarter. Vanguard Group Inc. now owns 4,615,223 shares of the medical technology company’s stock valued at $59,859,000 after buying an additional 80,101 shares in the last quarter. American Century Companies Inc. lifted its holdings in shares of Alphatec by 24.5% during the 3rd quarter. American Century Companies Inc. now owns 2,655,328 shares of the medical technology company’s stock worth $34,440,000 after acquiring an additional 523,323 shares during the period. Fred Alger Management LLC boosted its position in shares of Alphatec by 48.9% during the 3rd quarter. Fred Alger Management LLC now owns 2,336,718 shares of the medical technology company’s stock worth $30,307,000 after acquiring an additional 767,280 shares in the last quarter. Finally, BNP PARIBAS ASSET MANAGEMENT Holding S.A. increased its stake in Alphatec by 48.1% in the first quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 2,125,042 shares of the medical technology company’s stock valued at $29,305,000 after acquiring an additional 690,022 shares during the last quarter. 66.35% of the stock is currently owned by institutional investors.

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.