Alphatec (NASDAQ:ATEC) PT Raised to $20.00

Alphatec (NASDAQ:ATECGet Rating) had its target price raised by HC Wainwright from $19.00 to $20.00 in a research report issued to clients and investors on Friday, The Fly reports. HC Wainwright’s target price would indicate a potential upside of 85.36% from the stock’s current price.

A number of other brokerages also recently issued reports on ATEC. StockNews.com assumed coverage on Alphatec in a report on Thursday, March 31st. They issued a “sell” rating for the company. Piper Sandler decreased their price target on Alphatec from $22.00 to $17.00 and set an “overweight” rating for the company in a report on Wednesday, March 2nd. Finally, Zacks Investment Research raised Alphatec from a “sell” rating to a “hold” rating in a report on Thursday, March 10th. One analyst has rated the stock with a sell rating, two have given a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Buy” and an average price target of $19.00.

Alphatec stock opened at $10.79 on Friday. The company has a quick ratio of 2.37, a current ratio of 3.28 and a debt-to-equity ratio of 4.11. Alphatec has a 52 week low of $9.06 and a 52 week high of $16.47. The company has a market capitalization of $1.10 billion, a price-to-earnings ratio of -7.29 and a beta of 1.57. The stock has a 50-day moving average price of $11.50 and a 200 day moving average price of $11.38.

Alphatec (NASDAQ:ATECGet Rating) last released its earnings results on Tuesday, March 1st. The medical technology company reported ($0.40) EPS for the quarter, missing analysts’ consensus estimates of ($0.31) by ($0.09). Alphatec had a negative return on equity of 112.54% and a negative net margin of 59.34%. The firm had revenue of $73.96 million for the quarter, compared to analyst estimates of $73.70 million. During the same period last year, the firm earned ($0.35) EPS. Research analysts anticipate that Alphatec will post -1.13 EPS for the current fiscal year.

In other news, SVP Scott Lish sold 5,100 shares of the business’s stock in a transaction that occurred on Tuesday, March 1st. The stock was sold at an average price of $10.94, for a total value of $55,794.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders sold 11,490 shares of company stock valued at $122,949 over the last 90 days. Company insiders own 34.38% of the company’s stock.

Several institutional investors have recently bought and sold shares of ATEC. Wells Fargo & Company MN increased its position in shares of Alphatec by 30.7% in the second quarter. Wells Fargo & Company MN now owns 131,286 shares of the medical technology company’s stock valued at $2,011,000 after buying an additional 30,804 shares in the last quarter. Morgan Stanley increased its position in shares of Alphatec by 69.8% during the second quarter. Morgan Stanley now owns 542,189 shares of the medical technology company’s stock worth $8,306,000 after purchasing an additional 222,958 shares in the last quarter. SG Americas Securities LLC purchased a new stake in shares of Alphatec during the third quarter worth approximately $348,000. Deutsche Bank AG increased its position in shares of Alphatec by 113.5% during the third quarter. Deutsche Bank AG now owns 684,204 shares of the medical technology company’s stock worth $8,341,000 after purchasing an additional 363,807 shares in the last quarter. Finally, Swiss National Bank increased its position in shares of Alphatec by 2.7% during the third quarter. Swiss National Bank now owns 140,000 shares of the medical technology company’s stock worth $1,707,000 after purchasing an additional 3,700 shares in the last quarter. Institutional investors and hedge funds own 53.52% of the company’s stock.

About Alphatec (Get Rating)

Alphatec Holdings, Inc, a medical technology company, designs, develops, and advances technologies for the surgical treatment of spinal disorders. The company offers SafeOp Neural InformatiX System, an Alpha InformatiX product platform designed to reduce the risk of intraoperative nerve injury; Sigma transforaminal lumbar interbody fusion pedicle-based access system that provides direct visualization of anatomical landmarks; Sigma PTP Access and Patient Positioning System; squadron lateral retractor designed to maximize patient outcomes; Invictus Spinal Fixation System, a thoracolumbar fixation system to treat a range of pathologies; and Invictus MIS SingleStep System that provides minimally invasive pedicle screw placement.

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