HC Wainwright Reaffirms “Buy” Rating for Alphatec (NASDAQ:ATEC)

Alphatec (NASDAQ:ATEC)‘s stock had its “buy” rating reaffirmed by investment analysts at HC Wainwright in a report issued on Monday,Benzinga reports. They currently have a $20.00 target price on the medical technology company’s stock. HC Wainwright’s target price would suggest a potential upside of 105.13% from the company’s current price.

Other equities analysts have also recently issued research reports about the company. Piper Sandler increased their target price on Alphatec from $12.00 to $13.00 and gave the stock an “overweight” rating in a report on Thursday, February 27th. StockNews.com raised Alphatec from a “sell” rating to a “hold” rating in a research report on Friday, February 28th. Needham & Company LLC restated a “buy” rating and issued a $16.00 target price on shares of Alphatec in a research note on Thursday, February 27th. Finally, Barclays raised their price target on shares of Alphatec from $20.00 to $21.00 and gave the stock an “overweight” rating in a research note on Wednesday, January 22nd. Two investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $17.67.

Alphatec Trading Up 2.3 %

NASDAQ ATEC opened at $9.75 on Monday. Alphatec has a one year low of $4.88 and a one year high of $13.79. The company has a debt-to-equity ratio of 30.21, a current ratio of 2.32 and a quick ratio of 1.15. The firm has a market cap of $1.41 billion, a P/E ratio of -7.62 and a beta of 1.20. The stock’s 50-day moving average is $10.47 and its 200-day moving average is $9.34.

Alphatec (NASDAQ:ATEC) last announced its earnings results on Wednesday, February 26th. The medical technology company reported ($0.23) EPS for the quarter, missing the consensus estimate of ($0.19) by ($0.04). The company had revenue of $176.79 million for the quarter, compared to analyst estimates of $172.74 million. Alphatec had a negative return on equity of 541.39% and a negative net margin of 31.06%. Sell-side analysts anticipate that Alphatec will post -1.08 earnings per share for the current fiscal year.

Insider Activity at Alphatec

In related news, EVP David Sponsel sold 12,946 shares of the firm’s stock in a transaction dated Monday, February 24th. The shares were sold at an average price of $10.73, for a total value of $138,910.58. Following the completion of the sale, the executive vice president now directly owns 722,128 shares in the company, valued at approximately $7,748,433.44. This trade represents a 1.76 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Patrick Miles sold 50,000 shares of Alphatec stock in a transaction dated Wednesday, January 29th. The stock was sold at an average price of $12.03, for a total value of $601,500.00. Following the transaction, the chief executive officer now owns 6,152,544 shares of the company’s stock, valued at $74,015,104.32. The trade was a 0.81 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 278,800 shares of company stock valued at $3,201,469. 22.80% of the stock is owned by corporate insiders.

Institutional Trading of Alphatec

A number of hedge funds have recently made changes to their positions in the business. Barclays PLC raised its stake in Alphatec by 362.3% in the 3rd quarter. Barclays PLC now owns 170,546 shares of the medical technology company’s stock valued at $948,000 after acquiring an additional 133,653 shares during the period. Franklin Resources Inc. lifted its stake in shares of Alphatec by 299.3% during the 3rd quarter. Franklin Resources Inc. now owns 64,450 shares of the medical technology company’s stock worth $343,000 after buying an additional 48,308 shares during the last quarter. State Street Corp boosted its holdings in shares of Alphatec by 10.1% during the 3rd quarter. State Street Corp now owns 3,138,960 shares of the medical technology company’s stock worth $17,453,000 after buying an additional 287,350 shares during the period. Congress Asset Management Co. grew its stake in Alphatec by 235.4% in the 4th quarter. Congress Asset Management Co. now owns 434,966 shares of the medical technology company’s stock valued at $3,993,000 after buying an additional 305,296 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in Alphatec by 3.0% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 201,672 shares of the medical technology company’s stock valued at $1,121,000 after buying an additional 5,883 shares during the last quarter. 66.35% of the stock is owned by institutional investors and hedge funds.

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.