Barclays Increases Alphatec (NASDAQ:ATEC) Price Target to $22.00

Alphatec (NASDAQ:ATEC) had its target price increased by Barclays from $21.00 to $22.00 in a research report issued to clients and investors on Monday,Benzinga reports. The firm presently has an “overweight” rating on the medical technology company’s stock. Barclays‘s target price would suggest a potential upside of 43.42% from the stock’s previous close.

A number of other equities research analysts have also weighed in on the company. Lake Street Capital upgraded Alphatec to a “buy” rating and set a $18.00 price objective on the stock in a research report on Monday, June 16th. HC Wainwright restated a “buy” rating and set a $20.00 price objective on shares of Alphatec in a research report on Monday, April 14th. Canaccord Genuity Group reiterated a “buy” rating and issued a $20.00 price target on shares of Alphatec in a research report on Friday, August 1st. Piper Sandler reiterated 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. Finally, Needham & Company LLC reiterated a “buy” rating and issued a $16.00 price target on shares of Alphatec in a research report on Friday, May 2nd. One investment analyst has rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat.com, Alphatec has an average rating of “Moderate Buy” and a consensus price target of $18.50.

Alphatec Trading Up 3.2%

Shares of ATEC stock opened at $15.34 on Monday. The firm has a market capitalization of $2.27 billion, a P/E ratio of -13.58 and a beta of 1.05. Alphatec has a twelve month low of $4.88 and a twelve month high of $15.34. The company has a quick ratio of 1.77, a current ratio of 2.88 and a debt-to-equity ratio of 23.22. The stock’s fifty day simple moving average is $11.47 and its 200 day simple moving average is $11.20.

Alphatec (NASDAQ:ATEC) last issued its quarterly earnings data on Thursday, July 31st. The medical technology company reported $0.02 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.06) by $0.08. The business had revenue of $185.54 million for the quarter, compared to analyst estimates of $178.85 million. Alphatec had a negative return on equity of 1,657.19% and a negative net margin of 24.33%. Alphatec’s quarterly revenue was up 27.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted ($0.29) EPS. As a group, sell-side analysts predict that Alphatec will post -1.08 EPS for the current fiscal year.

Insider Buying and Selling

In related news, Director Karen K. Mcginnis sold 3,963 shares of the company’s stock in a transaction dated Wednesday, June 11th. The stock was sold at an average price of $12.11, for a total transaction of $47,991.93. Following the sale, the director owned 68,709 shares in the company, valued at $832,065.99. This represents a 5.45% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, General Counsel Tyson Eliot Marshall sold 18,092 shares of the company’s stock in a transaction dated Tuesday, August 5th. The shares were sold at an average price of $14.91, for a total value of $269,751.72. Following the sale, the general counsel owned 438,331 shares in the company, valued at approximately $6,535,515.21. The trade was a 3.96% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 389,121 shares of company stock worth $4,929,887. Corporate insiders own 22.80% of the company’s stock.

Institutional Investors Weigh In On Alphatec

Institutional investors and hedge funds have recently made changes to their positions in the business. Comerica Bank raised its stake in Alphatec by 66.8% during the 4th quarter. Comerica Bank now owns 3,116 shares of the medical technology company’s stock worth $29,000 after buying an additional 1,248 shares during the period. 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 worth $49,000 after buying an additional 2,375 shares during the period. Larson Financial Group LLC acquired a new position in Alphatec during the 1st quarter worth approximately $54,000. Nisa Investment Advisors LLC raised its stake in Alphatec by 22.4% during the 2nd quarter. Nisa Investment Advisors LLC now owns 5,714 shares of the medical technology company’s stock worth $63,000 after buying an additional 1,045 shares during the period. Finally, Lazard Asset Management LLC acquired a new position in Alphatec during the 4th quarter worth approximately $76,000. Institutional investors own 66.35% of the company’s stock.

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.