Alphatec (NASDAQ:ATEC) Coverage Initiated at Barclays

Equities researchers at Barclays initiated coverage on shares of Alphatec (NASDAQ:ATEC) in a report issued on Monday, MarketBeat reports. The firm set an “overweight” rating and a $19.00 price target on the medical technology company’s stock. Barclays‘s target price indicates a potential upside of 75.28% from the company’s previous close.

Several other brokerages also recently commented on ATEC. Canaccord Genuity Group reissued a “buy” rating and issued a $25.00 price objective on shares of Alphatec in a research note on Wednesday, March 20th. Piper Sandler lowered their price target on Alphatec from $19.00 to $17.00 and set an “overweight” rating for the company in a research report on Wednesday, May 8th. Finally, Needham & Company LLC restated a “buy” rating and set a $23.00 price objective on shares of Alphatec in a research note on Wednesday, May 8th. One analyst has rated the stock with a sell rating and nine have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $21.44.

Alphatec Price Performance

Shares of NASDAQ:ATEC opened at $10.84 on Monday. Alphatec has a twelve month low of $8.66 and a twelve month high of $19.14. The stock’s 50 day moving average is $10.72 and its 200-day moving average is $13.14. The company has a quick ratio of 1.49, a current ratio of 2.39 and a debt-to-equity ratio of 13.63. The firm has a market capitalization of $1.52 billion, a price-to-earnings ratio of -7.28 and a beta of 1.40.

Alphatec (NASDAQ:ATEC) last released its quarterly earnings data on Tuesday, May 7th. The medical technology company reported ($0.34) earnings per share for the quarter, missing the consensus estimate of ($0.33) by ($0.01). The business had revenue of $138.48 million for the quarter, compared to analyst estimates of $134.07 million. Alphatec had a negative return on equity of 1,767.81% and a negative net margin of 37.45%. The business’s quarterly revenue was up 26.9% on a year-over-year basis. During the same quarter in the previous year, the company posted ($0.40) EPS. Sell-side analysts forecast that Alphatec will post -1.04 EPS for the current fiscal year.

Insider Activity

In related news, CFO John Todd Koning sold 37,500 shares of Alphatec stock in a transaction that occurred on Wednesday, April 24th. The shares were sold at an average price of $12.82, for a total value of $480,750.00. Following the sale, the chief financial officer now owns 393,356 shares of the company’s stock, valued at approximately $5,042,823.92. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other Alphatec news, General Counsel Tyson Eliot Marshall sold 50,232 shares of the business’s stock in a transaction on Wednesday, June 12th. The shares were sold at an average price of $10.88, for a total transaction 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 Securities & Exchange Commission, which is available at this hyperlink. Also, CFO John Todd Koning sold 37,500 shares of the firm’s stock in a transaction on Wednesday, April 24th. The stock was sold at an average price of $12.82, for a total value of $480,750.00. Following the completion of the transaction, the chief financial officer now directly owns 393,356 shares of the company’s stock, valued at $5,042,823.92. The disclosure for this sale can be found here. Insiders own 22.80% of the company’s stock.

Institutional Trading of Alphatec

A number of hedge funds and other institutional investors have recently made changes to their positions in ATEC. RiverPark Advisors LLC grew its holdings in Alphatec by 22.6% during the 4th quarter. RiverPark Advisors LLC now owns 5,033 shares of the medical technology company’s stock valued at $76,000 after buying an additional 928 shares in the last quarter. Comerica Bank lifted its holdings in shares of Alphatec by 64.8% in the first quarter. Comerica Bank now owns 6,443 shares of the medical technology company’s stock worth $89,000 after buying an additional 2,534 shares in the last quarter. Tidemark LLC bought a new position in shares of Alphatec in the fourth quarter valued at approximately $137,000. Amalgamated Bank grew its stake in Alphatec by 7.3% during the fourth quarter. Amalgamated Bank now owns 9,720 shares of the medical technology company’s stock valued at $147,000 after acquiring an additional 660 shares in the last quarter. Finally, EntryPoint Capital LLC bought a new stake in Alphatec during the 1st quarter worth approximately $141,000. 66.35% of the stock is currently owned by 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.