Alphatec (NASDAQ:ATEC) Price Target Cut to $12.00 by Analysts at Piper Sandler

Alphatec (NASDAQ:ATEC) had its target price cut by Piper Sandler from $17.00 to $12.00 in a report released on Thursday morning, Benzinga reports. They currently have an overweight rating on the medical technology company’s stock.

Other equities analysts also recently issued reports about the stock. Morgan Stanley decreased their price target on shares of Alphatec from $19.00 to $16.00 and set an overweight rating on the stock in a research note on Monday, July 15th. HC Wainwright reissued a buy rating and issued a $20.00 target price on shares of Alphatec in a report on Thursday. Canaccord Genuity Group reiterated a buy rating and issued a $25.00 price objective on shares of Alphatec in a report on Thursday, July 25th. Barclays started coverage on shares of Alphatec in a research report on Monday, July 8th. They set an overweight rating and a $19.00 target price for the company. Finally, Needham & Company LLC reissued a buy rating and issued a $23.00 price target on shares of Alphatec in a research report on Thursday. One analyst has rated the stock with a sell rating, one has given a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat, Alphatec presently has a consensus rating of Moderate Buy and an average target price of $19.11.

Alphatec Price Performance

ATEC remained flat at $6.64 during trading on Thursday. 1,762,926 shares of the company’s stock were exchanged, compared to its average volume of 1,700,770. The company’s 50 day moving average price is $10.38 and its two-hundred day moving average price is $12.67. The company has a debt-to-equity ratio of 13.63, a quick ratio of 1.49 and a current ratio of 2.39. The stock has a market capitalization of $928.80 million, a P/E ratio of -4.46 and a beta of 1.40. Alphatec has a 1 year low of $6.25 and a 1 year high of $18.32.

Alphatec (NASDAQ:ATEC) last posted its quarterly earnings results on Wednesday, July 31st. The medical technology company reported ($0.29) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.26) by ($0.03). Alphatec had a negative return on equity of 758.98% and a negative net margin of 33.48%. The firm had revenue of $145.57 million for the quarter, compared to the consensus estimate of $144.55 million. During the same period last year, the company posted ($0.43) earnings per share. The business’s revenue was up 24.5% compared to the same quarter last year. As a group, sell-side analysts predict that Alphatec will post -1.04 EPS for the current fiscal year.

Insiders Place Their Bets

In other Alphatec news, General Counsel Tyson Eliot Marshall sold 50,232 shares of the firm’s stock in a transaction on Wednesday, June 12th. The shares were sold at an average price of $10.88, for a total value of $546,524.16. Following the sale, the general counsel now owns 245,638 shares of the company’s stock, valued at approximately $2,672,541.44. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Insiders own 22.80% of the company’s stock.

Institutional Investors Weigh In On Alphatec

Large investors have recently modified their holdings of the stock. First Light Asset Management LLC lifted its position in Alphatec by 97.0% during the 4th quarter. First Light Asset Management LLC now owns 5,976,851 shares of the medical technology company’s stock valued at $90,310,000 after acquiring an additional 2,943,310 shares during the period. Vanguard Group Inc. raised its holdings in shares of Alphatec by 1.2% during the first quarter. Vanguard Group Inc. now owns 5,458,847 shares of the medical technology company’s stock valued at $75,278,000 after purchasing an additional 64,648 shares during the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. raised its holdings in shares of Alphatec by 23.8% during the second quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 2,630,244 shares of the medical technology company’s stock valued at $27,486,000 after purchasing an additional 505,202 shares during the last quarter. Cerity Partners LLC purchased a new position in shares of Alphatec during the fourth quarter valued at approximately $28,451,000. Finally, Intrinsic Edge Capital Management LLC raised its holdings in shares of Alphatec by 72.2% during the fourth quarter. Intrinsic Edge Capital Management LLC now owns 1,599,849 shares of the medical technology company’s stock valued at $24,174,000 after purchasing an additional 670,788 shares during the last quarter. 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.