Piper Sandler Reiterates Overweight Rating for Alphatec (NASDAQ:ATEC)

Alphatec (NASDAQ:ATEC)‘s stock had its “overweight” rating restated by Piper Sandler in a note issued to investors on Friday,Benzinga reports. They presently have a $15.00 price objective on the medical technology company’s stock, up from their prior price objective of $13.00. Piper Sandler’s target price would suggest a potential upside of 25.00% from the company’s current price.

ATEC has been the subject of several other reports. HC Wainwright restated a “buy” rating and set a $20.00 price target on shares of Alphatec in a research report on Monday, April 14th. StockNews.com upgraded shares of Alphatec from a “sell” rating to a “hold” rating in a research note on Friday, February 28th. Needham & Company LLC reissued a “buy” rating and issued a $16.00 price objective on shares of Alphatec in a research note on Friday. Finally, Barclays increased 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. Two research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat.com, Alphatec currently has a consensus rating of “Moderate Buy” and an average target price of $17.89.

Alphatec Stock Up 8.5 %

Shares of NASDAQ:ATEC opened at $12.00 on Friday. The company has a market capitalization of $1.75 billion, a price-to-earnings ratio of -9.38 and a beta of 1.20. Alphatec has a 12-month low of $4.88 and a 12-month high of $13.79. The business has a 50-day moving average price of $10.46 and a 200 day moving average price of $9.89. 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 (NASDAQ:ATEC) last released its quarterly earnings results on Thursday, May 1st. The medical technology company reported ($0.35) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.12) by ($0.23). The company had revenue of $169.18 million during the quarter, compared to analysts’ expectations of $167.57 million. Alphatec had a negative net margin of 31.06% and a negative return on equity of 541.39%. Alphatec’s revenue was up 22.2% on a year-over-year basis. During the same period last year, the firm posted ($0.34) earnings per share. Sell-side analysts expect that Alphatec will post -1.08 EPS for the current year.

Insider Buying and Selling

In other Alphatec news, EVP David Sponsel sold 33,732 shares of the firm’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 transaction of $365,317.56. Following the sale, the executive vice president now owns 668,977 shares of the company’s stock, valued at approximately $7,245,020.91. This trade represents a 4.80 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Patrick Miles sold 43,459 shares of the company’s stock in a transaction on Wednesday, February 5th. The shares were sold at an average price of $11.95, for a total transaction of $519,335.05. Following the completion of the transaction, the chief executive officer now owns 6,065,772 shares of the company’s stock, valued at approximately $72,485,975.40. The trade was a 0.71 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 222,113 shares of company stock worth $2,519,725 over the last 90 days. 22.80% of the stock is owned by insiders.

Institutional Trading of Alphatec

Institutional investors and hedge funds have recently made changes to their positions in the company. R Squared Ltd acquired a new position in Alphatec during the fourth quarter worth approximately $29,000. Comerica Bank grew its position in shares of Alphatec by 66.8% during the fourth quarter. Comerica Bank now owns 3,116 shares of the medical technology company’s stock worth $29,000 after acquiring an additional 1,248 shares during the last quarter. Nisa Investment Advisors LLC increased its holdings 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 valued at $43,000 after acquiring an additional 4,234 shares during the period. Quarry LP raised its position in Alphatec by 79.2% in 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 last quarter. Finally, Newton One Investments LLC acquired a new stake in Alphatec during the 4th quarter worth $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.