Alphatec (NASDAQ:ATEC) Price Target Raised to $13.00

Alphatec (NASDAQ:ATEC) had its price objective raised by Piper Sandler from $12.00 to $13.00 in a research report issued on Thursday,Benzinga reports. The brokerage currently has an “overweight” rating on the medical technology company’s stock. Piper Sandler’s price objective would indicate a potential upside of 17.54% from the stock’s previous close.

Several other research firms have also commented on ATEC. Needham & Company LLC restated a “buy” rating and issued a $16.00 price objective on shares of Alphatec in a research report on Thursday. Barclays increased their price target on shares of Alphatec from $20.00 to $21.00 and gave the stock an “overweight” rating in a report on Wednesday, January 22nd. Finally, HC Wainwright restated a “buy” rating and set a $20.00 price target on shares of Alphatec in a research report on Tuesday, January 14th. One investment analyst has rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $17.67.

Alphatec Trading Up 4.7 %

NASDAQ ATEC opened at $11.06 on Thursday. Alphatec has a 1 year low of $4.88 and a 1 year high of $15.41. 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 company has a market capitalization of $1.57 billion, a PE ratio of -8.64 and a beta of 1.43. The company has a fifty day moving average of $10.57 and a 200 day moving average of $8.35.

Alphatec (NASDAQ:ATEC) last issued its quarterly earnings data on Wednesday, February 26th. The medical technology company reported ($0.23) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.19) by ($0.04). Alphatec had a negative net margin of 31.06% and a negative return on equity of 541.39%. Research analysts forecast that Alphatec will post -1.08 earnings per share for the current year.

Insider Activity

In related news, CEO Patrick Miles sold 50,000 shares of the stock in a transaction on Wednesday, January 29th. The stock was sold at an average price of $12.03, for a total value of $601,500.00. Following the completion of the transaction, the chief executive officer now directly owns 6,152,544 shares of the company’s stock, valued at approximately $74,015,104.32. This represents a 0.81 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP David Sponsel sold 58,283 shares of Alphatec stock in a transaction on Monday, January 13th. The stock was sold at an average price of $10.71, for a total transaction of $624,210.93. Following the sale, the executive vice president now directly owns 502,311 shares in the company, valued at approximately $5,379,750.81. This trade represents a 10.40 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 267,715 shares of company stock worth $3,048,819 over the last 90 days. 22.80% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Alphatec

A number of institutional investors and hedge funds have recently bought and sold shares of the business. R Squared Ltd acquired a new stake in Alphatec in the 4th quarter valued at about $29,000. Comerica Bank increased its holdings in shares of Alphatec by 66.8% in the fourth quarter. Comerica Bank now owns 3,116 shares of the medical technology company’s stock valued at $29,000 after purchasing an additional 1,248 shares during the last quarter. Nisa Investment Advisors LLC lifted its position in Alphatec by 973.3% during the fourth quarter. Nisa Investment Advisors LLC now owns 4,669 shares of the medical technology company’s stock worth $43,000 after buying an additional 4,234 shares in the last quarter. Quarry LP boosted its stake in Alphatec by 79.2% during the fourth 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 last quarter. Finally, Newton One Investments LLC acquired a new position in Alphatec during the fourth quarter worth $50,000. 66.35% of the stock is currently owned by institutional investors and hedge funds.

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.