Alphatec (NASDAQ:ATEC) Earns "Buy" Rating from HC Wainwright

Alphatec (NASDAQ:ATEC - Get Free Report)'s stock had its "buy" rating reissued by equities research analysts at HC Wainwright in a research note issued on Monday,Benzinga reports. They presently have a $20.00 price target on the medical technology company's stock. HC Wainwright's target price suggests a potential upside of 89.39% from the stock's current price.

Several other research analysts have also commented on ATEC. Needham & Company LLC reaffirmed a "buy" rating and issued a $16.00 price target on shares of Alphatec in a report on Thursday, February 27th. Barclays raised their price target on Alphatec from $20.00 to $21.00 and gave the stock an "overweight" rating in a report on Wednesday, January 22nd. Piper Sandler upped their price objective on Alphatec from $12.00 to $13.00 and gave the stock an "overweight" rating in a research note on Thursday, February 27th. Finally, StockNews.com raised Alphatec from a "sell" rating to a "hold" rating in a research report on Friday, February 28th. Two analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $17.67.

Alphatec Stock Up 3.2 %

ATEC traded up $0.33 during trading hours on Monday, reaching $10.56. 2,292,621 shares of the stock traded hands, compared to its average volume of 2,041,438. Alphatec has a fifty-two week low of $4.88 and a fifty-two week high of $13.79. The company has a market cap of $1.52 billion, a price-to-earnings ratio of -8.25 and a beta of 1.20. 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's fifty day simple moving average is $10.38 and its two-hundred day simple moving average is $9.42.

Alphatec (NASDAQ:ATEC - Get Free Report) last released its quarterly 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 business had revenue of $176.79 million during 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%. As a group, analysts forecast that Alphatec will post -1.08 earnings per share for the current fiscal year.

Insider Transactions at Alphatec

In related news, EVP David Sponsel sold 33,732 shares of the business's stock in a transaction that occurred on Thursday, March 6th. The shares were sold at an average price of $10.83, for a total value of $365,317.56. Following the sale, the executive vice president now directly owns 668,977 shares in the company, valued at $7,245,020.91. The trade was a 4.80 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Patrick Miles sold 50,000 shares of the stock in a transaction on Wednesday, January 29th. The shares were sold at an average price of $12.03, for a total value of $601,500.00. Following the sale, the chief executive officer now owns 6,152,544 shares of the company's stock, valued at $74,015,104.32. This trade represents a 0.81 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 278,800 shares of company stock valued at $3,201,469. Corporate insiders own 22.80% of the company's stock.

Institutional Investors Weigh In On Alphatec

Hedge funds have recently modified their holdings of the stock. R Squared Ltd acquired a new stake in Alphatec during the 4th quarter worth about $29,000. Comerica Bank boosted its stake in Alphatec by 66.8% in the 4th quarter. Comerica Bank now owns 3,116 shares of the medical technology company's stock worth $29,000 after purchasing an additional 1,248 shares during the period. Nisa Investment Advisors LLC grew its position in Alphatec by 973.3% during the 4th quarter. Nisa Investment Advisors LLC now owns 4,669 shares of the medical technology company's stock worth $43,000 after purchasing an additional 4,234 shares in the last quarter. Quarry LP raised its stake in Alphatec by 79.2% during the 4th quarter. Quarry LP now owns 5,374 shares of the medical technology company's stock valued at $49,000 after purchasing an additional 2,375 shares during the period. Finally, Newton One Investments LLC purchased a new stake in shares of Alphatec in the fourth quarter valued at $50,000. 66.35% of the stock is owned by hedge funds and other institutional investors.

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.