Alphatec (NASDAQ:ATEC) Upgraded by StockNews.com to “Hold” Rating

StockNews.com upgraded shares of Alphatec (NASDAQ:ATEC) from a sell rating to a hold rating in a research report released on Friday.

A number of other research analysts also recently issued reports on the stock. HC Wainwright restated a “buy” rating and issued a $20.00 price target on shares of Alphatec in a research report on Tuesday, January 14th. Barclays lifted their price objective on shares of Alphatec from $20.00 to $21.00 and gave the company an “overweight” rating in a research report on Wednesday, January 22nd. Piper Sandler lifted their price objective on shares of Alphatec from $12.00 to $13.00 and gave the company an “overweight” rating in a research report on Thursday. Finally, Needham & Company LLC reiterated a “buy” rating and issued a $16.00 price objective on shares of Alphatec in a research report on Thursday. Two analysts have rated the stock with a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $17.67.

Alphatec Trading Up 3.4 %

NASDAQ ATEC opened at $12.53 on Friday. Alphatec has a 12 month low of $4.88 and a 12 month high of $14.88. 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 $1.78 billion, a price-to-earnings ratio of -9.79 and a beta of 1.43. The company’s fifty day moving average price is $10.63 and its two-hundred day moving average price is $8.37.

Alphatec (NASDAQ:ATEC) last posted its quarterly earnings results on Wednesday, February 26th. The medical technology company reported ($0.23) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.19) by ($0.04). Alphatec had a negative return on equity of 541.39% and a negative net margin of 31.06%. The business had revenue of $176.79 million during the quarter, compared to the consensus estimate of $172.74 million. As a group, research analysts predict that Alphatec will post -1.08 earnings per share for the current fiscal year.

Insider Transactions at Alphatec

In other news, CEO Patrick Miles sold 6,687 shares of Alphatec stock in a transaction that occurred on Tuesday, January 21st. The shares were sold at an average price of $12.00, for a total value of $80,244.00. Following the transaction, the chief executive officer now owns 5,501,715 shares of the company’s stock, valued at $66,020,580. The trade was a 0.12 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, EVP David Sponsel sold 36,256 shares of Alphatec stock in a transaction that occurred on Monday, February 3rd. The stock was sold at an average price of $11.42, for a total transaction of $414,043.52. Following the completion of the transaction, the executive vice president now directly owns 735,074 shares in the company, valued at $8,394,545.08. This represents a 4.70 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 290,898 shares of company stock valued at $3,327,710 in the last quarter. Insiders own 22.80% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in ATEC. Creative Planning increased its position in shares of Alphatec by 83.9% in the third quarter. Creative Planning now owns 48,611 shares of the medical technology company’s stock worth $270,000 after acquiring an additional 22,171 shares in the last quarter. Assenagon Asset Management S.A. boosted its holdings in shares of Alphatec by 30.1% during the third quarter. Assenagon Asset Management S.A. now owns 40,486 shares of the medical technology company’s stock worth $225,000 after purchasing an additional 9,361 shares during the period. Stephens Inc. AR boosted its holdings in shares of Alphatec by 51.4% during the third quarter. Stephens Inc. AR now owns 21,743 shares of the medical technology company’s stock worth $121,000 after purchasing an additional 7,382 shares during the period. Van ECK Associates Corp boosted its holdings in shares of Alphatec by 57.0% during the third quarter. Van ECK Associates Corp now owns 19,273 shares of the medical technology company’s stock worth $99,000 after purchasing an additional 6,998 shares during the period. Finally, Fernwood Investment Management LLC boosted its holdings in shares of Alphatec by 28.6% during the third quarter. Fernwood Investment Management LLC now owns 91,287 shares of the medical technology company’s stock worth $508,000 after purchasing an additional 20,300 shares during the period. 66.35% of the stock is owned by hedge funds and other 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.