Alphatec’s (ATEC) Buy Rating Reiterated at HC Wainwright

HC Wainwright reiterated their buy rating on shares of Alphatec (NASDAQ:ATEC) in a report published on Thursday morning, Benzinga reports. The brokerage 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. Morgan Stanley lowered their price target on Alphatec from $19.00 to $16.00 and set an overweight rating on the stock in a report on Monday, July 15th. Stifel Nicolaus reduced their target price on Alphatec from $24.00 to $19.00 and set a buy rating on the stock in a report on Thursday, July 11th. Needham & Company LLC reissued a buy rating and issued a $23.00 target price on shares of Alphatec in a report on Thursday. Piper Sandler decreased their price target on shares of Alphatec from $19.00 to $17.00 and set an overweight rating on the stock in a research note on Wednesday, May 8th. Finally, Barclays initiated coverage on shares of Alphatec in a report on Monday, July 8th. They issued an overweight rating and a $19.00 target price on the stock. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of Moderate Buy and an average target price of $19.11.

Alphatec Stock Performance

Shares of Alphatec stock traded down $0.45 during trading hours on Thursday, reaching $5.85. 618,682 shares of the stock traded hands, compared to its average volume of 1,719,235. Alphatec has a one year low of $5.74 and a one year high of $17.34. The firm has a market capitalization of $821.69 million, a price-to-earnings ratio of -4.23 and a beta of 1.40. The company has a quick ratio of 1.49, a current ratio of 2.22 and a debt-to-equity ratio of 30.21. The company has a 50 day moving average price of $10.30 and a 200 day moving average price of $12.58.

Alphatec (NASDAQ:ATEC) last announced its earnings results on Wednesday, July 31st. The medical technology company reported ($0.29) EPS for the quarter, missing analysts’ consensus estimates of ($0.26) by ($0.03). The company had revenue of $145.57 million during the quarter, compared to the consensus estimate of $144.55 million. Alphatec had a negative return on equity of 816.57% and a negative net margin of 33.48%. Alphatec’s revenue for the quarter was up 24.5% compared to the same quarter last year. During the same period in the prior year, the business posted ($0.43) earnings per share. On average, equities research analysts expect that Alphatec will post -1.04 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Alphatec news, General Counsel Tyson Eliot Marshall sold 50,232 shares of the company’s stock in a transaction on Wednesday, June 12th. The stock was sold at an average price of $10.88, for a total transaction of $546,524.16. Following the completion of the sale, the general counsel now owns 245,638 shares in the company, valued at $2,672,541.44. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. 22.80% of the stock is owned by insiders.

Institutional Inflows and Outflows

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