Alphatec’s (ATEC) Overweight Rating Reiterated at Piper Sandler

Piper Sandler reiterated their overweight rating on shares of Alphatec (NASDAQ:ATEC) in a report published on Friday morning,Benzinga reports. They currently have a $15.00 target price on the medical technology company’s stock, up from their prior target price of $13.00.

Other equities research analysts have also recently issued research reports about the stock. StockNews.com upgraded shares of Alphatec from a “sell” rating to a “hold” rating in a research report on Friday, February 28th. Needham & Company LLC reissued a “buy” rating and issued a $16.00 price target on shares of Alphatec in a report on Friday. HC Wainwright reaffirmed a “buy” rating and set a $20.00 price objective on shares of Alphatec in a report on Monday, April 14th. Finally, Barclays lifted their target price on Alphatec from $20.00 to $21.00 and gave the company an “overweight” rating in a research note on Wednesday, January 22nd. Two analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $17.89.

Alphatec Stock Performance

NASDAQ:ATEC opened at $12.00 on Friday. The stock has a market capitalization of $1.75 billion, a P/E ratio of -9.38 and a beta of 1.20. 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 $13.79. The firm has a 50 day moving average of $10.46 and a 200-day moving average of $9.92.

Alphatec (NASDAQ:ATEC) last issued its quarterly earnings data on Thursday, May 1st. The medical technology company reported ($0.35) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.12) by ($0.23). The business had revenue of $169.18 million during the quarter, compared to the consensus estimate of $167.57 million. Alphatec had a negative net margin of 31.06% and a negative return on equity of 541.39%. The company’s revenue for the quarter was up 22.2% compared to the same quarter last year. During the same quarter in the previous year, the firm posted ($0.34) EPS. As a group, sell-side analysts anticipate that Alphatec will post -1.08 EPS for the current fiscal year.

Insider Activity

In other news, EVP David Sponsel sold 33,732 shares of the company’s stock in a transaction dated Thursday, March 6th. The stock was sold at an average price of $10.83, for a total value of $365,317.56. Following the completion of the sale, the executive vice president now directly owns 668,977 shares of the company’s stock, valued at $7,245,020.91. This represents a 4.80 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Patrick Miles sold 12,691 shares of the stock in a transaction that occurred on Friday, March 7th. The shares were sold at an average price of $10.64, for a total transaction of $135,032.24. Following the completion of the sale, the chief executive officer now owns 5,857,603 shares in the company, valued at $62,324,895.92. This represents a 0.22 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 185,857 shares of company stock valued at $2,105,682 in the last 90 days. 22.80% of the stock is owned by company insiders.

Institutional Investors Weigh In On Alphatec

Large investors have recently bought and sold shares of the company. Vanguard Group Inc. grew its holdings in shares of Alphatec by 0.8% in the 4th quarter. Vanguard Group Inc. now owns 5,968,980 shares of the medical technology company’s stock valued at $54,795,000 after buying an additional 47,797 shares during the period. American Century Companies Inc. grew its stake in Alphatec by 36.5% in the fourth quarter. American Century Companies Inc. now owns 4,989,057 shares of the medical technology company’s stock valued at $45,800,000 after acquiring an additional 1,334,780 shares during the period. Royal Bank of Canada grew its stake in Alphatec by 171.2% in the fourth quarter. Royal Bank of Canada now owns 3,185,283 shares of the medical technology company’s stock valued at $29,240,000 after acquiring an additional 2,010,806 shares during the period. Nuveen Asset Management LLC increased its holdings in shares of Alphatec by 78.4% in the fourth quarter. Nuveen Asset Management LLC now owns 2,584,996 shares of the medical technology company’s stock worth $23,730,000 after acquiring an additional 1,136,330 shares in the last quarter. Finally, Geode Capital Management LLC raised its position in shares of Alphatec by 1.0% during the fourth quarter. Geode Capital Management LLC now owns 2,387,162 shares of the medical technology company’s stock worth $21,919,000 after purchasing an additional 24,283 shares during the period. 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.