Alphatec (NASDAQ:ATEC) Given “Buy” Rating at HC Wainwright

HC Wainwright reissued their buy rating on shares of Alphatec (NASDAQ:ATEC) in a research report released on Monday morning,Benzinga reports. HC Wainwright currently has a $20.00 target price on the medical technology company’s stock.

ATEC has been the topic of a number of other reports. Barclays boosted their target price on shares of Alphatec from $20.00 to $21.00 and gave the stock an “overweight” rating in a report on Wednesday, January 22nd. Needham & Company LLC reissued a “buy” rating and set a $16.00 price objective on shares of Alphatec in a research note on Thursday, February 27th. StockNews.com raised Alphatec from a “sell” rating to a “hold” rating in a research note on Friday, February 28th. Finally, Piper Sandler boosted their target price on Alphatec from $12.00 to $13.00 and gave the company an “overweight” rating in a research report on Thursday, February 27th. Two equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $17.67.

Alphatec Stock Performance

Shares of NASDAQ ATEC opened at $10.18 on Monday. The firm’s fifty day moving average is $10.44 and its two-hundred day moving average is $9.37. Alphatec has a 52-week low of $4.88 and a 52-week high of $13.79. The company has a market cap of $1.47 billion, a P/E ratio of -7.95 and a beta of 1.20. The company has a debt-to-equity ratio of 30.21, a quick ratio of 1.15 and a current ratio of 2.32.

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

Insider Buying and Selling at Alphatec

In other Alphatec news, EVP David Sponsel sold 12,946 shares of the company’s stock in a transaction on Monday, February 24th. The stock was 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 represents a 1.76 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Patrick Miles sold 50,000 shares of the firm’s 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 transaction, the chief executive officer now owns 6,152,544 shares in the company, valued at approximately $74,015,104.32. This represents a 0.81 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 278,800 shares of company stock valued at $3,201,469 in the last quarter. 22.80% of the stock is owned by insiders.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the business. R Squared Ltd bought a new position in shares of Alphatec during the fourth quarter valued at approximately $29,000. Comerica Bank increased its holdings in shares of Alphatec by 66.8% in the 4th quarter. Comerica Bank now owns 3,116 shares of the medical technology company’s stock valued at $29,000 after acquiring an additional 1,248 shares during the period. Nisa Investment Advisors LLC raised its position in shares of Alphatec by 973.3% in the 4th quarter. Nisa Investment Advisors LLC now owns 4,669 shares of the medical technology company’s stock worth $43,000 after acquiring an additional 4,234 shares in the last quarter. Quarry LP boosted its position in Alphatec by 79.2% during the fourth 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 in the last quarter. Finally, Newton One Investments LLC purchased a new position in Alphatec in the fourth quarter valued at about $50,000. Hedge funds and other institutional investors own 66.35% of the company’s stock.

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.