Alphatec (NASDAQ:ATEC) Now Covered by Analysts at Lake Street Capital

Lake Street Capital initiated coverage on shares of Alphatec (NASDAQ:ATEC) in a report released on Monday morning, Marketbeat reports. The firm issued a buy rating and a $18.00 price objective on the medical technology company’s stock.

ATEC has been the subject of several other research reports. HC Wainwright restated a “buy” rating and issued a $20.00 price target on shares of Alphatec in a research report on Monday, April 14th. Wall Street Zen upgraded shares of 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 price target on shares of Alphatec in a research report on Friday, May 2nd. Finally, Piper Sandler restated an “overweight” rating and issued a $15.00 price target (up previously from $13.00) on shares of Alphatec in a research report on Friday, May 2nd. Two analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $17.89.

Alphatec Trading Down 0.4%

Alphatec stock opened at $11.02 on Monday. The stock has a market capitalization of $1.61 billion, a PE ratio of -8.61 and a beta of 1.10. Alphatec has a 12-month low of $4.88 and a 12-month high of $13.14. 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 50 day simple moving average of $11.71 and a 200-day simple moving average of $10.83.

Alphatec (NASDAQ:ATEC) last issued its earnings results on Thursday, May 1st. The medical technology company reported ($0.35) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.12) by ($0.23). The business had revenue of $169.18 million for the quarter, compared to the consensus estimate of $167.57 million. Alphatec had a negative return on equity of 541.39% and a negative net margin of 31.06%. The company’s quarterly revenue was up 22.2% on a year-over-year basis. During the same quarter in the previous year, the business posted ($0.34) earnings per share. As a group, equities research analysts expect that Alphatec will post -1.08 EPS for the current fiscal year.

Insider Activity

In related news, EVP Craig E. Hunsaker sold 186,122 shares of the firm’s stock in a transaction on Wednesday, June 4th. The shares were sold at an average price of $12.34, for a total value of $2,296,745.48. Following the transaction, the executive vice president now directly owns 1,463,896 shares in the company, valued at approximately $18,064,476.64. This trade represents a 11.28% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director Karen K. Mcginnis sold 3,963 shares of the firm’s stock in a transaction on Wednesday, June 11th. The shares were sold at an average price of $12.11, for a total transaction of $47,991.93. Following the completion of the transaction, the director now owns 68,709 shares in the company, valued at $832,065.99. The trade was a 5.45% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 271,338 shares of company stock worth $3,381,584. 20.90% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the company. 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. Rhumbline Advisers grew its stake in Alphatec by 1.3% in the 4th quarter. Rhumbline Advisers now owns 139,088 shares of the medical technology company’s stock valued at $1,277,000 after buying an additional 1,746 shares during the last quarter. Northern Trust Corp grew its stake in Alphatec by 12.0% in the 4th quarter. Northern Trust Corp now owns 1,014,743 shares of the medical technology company’s stock valued at $9,315,000 after buying an additional 108,959 shares during the last quarter. Russell Investments Group Ltd. grew its stake in Alphatec by 20.0% in the 4th quarter. Russell Investments Group Ltd. now owns 199,886 shares of the medical technology company’s stock valued at $1,835,000 after buying an additional 33,362 shares during the last quarter. Finally, Atria Investments Inc grew its stake in Alphatec by 20.3% in the 4th quarter. Atria Investments Inc now owns 23,585 shares of the medical technology company’s stock valued at $217,000 after buying an additional 3,976 shares during the last quarter. 66.35% of the stock is currently 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.