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 have also weighed in on ATEC. Barclays upped their price objective on Alphatec from $20.00 to $21.00 and gave the stock an “overweight” rating in a report on Wednesday, January 22nd. HC Wainwright reaffirmed a “buy” rating and set a $20.00 price objective on shares of Alphatec in a report on Tuesday, January 14th. Needham & Company LLC reaffirmed a “buy” rating and set a $16.00 price objective on shares of Alphatec in a report on Thursday. Finally, Piper Sandler upped their price objective on Alphatec from $12.00 to $13.00 and gave the stock an “overweight” rating in a report on Thursday. Two equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $17.67.

Alphatec Price Performance

Alphatec stock 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 business has a 50 day simple moving average of $10.63 and a 200-day simple moving average of $8.37. The stock has a market capitalization of $1.78 billion, a PE ratio of -9.79 and a beta of 1.43.

Alphatec (NASDAQ:ATEC) last announced its quarterly earnings data on Wednesday, February 26th. The medical technology company reported ($0.23) earnings per share 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 for the quarter, compared to analyst estimates of $172.74 million. Equities analysts predict that Alphatec will post -1.08 earnings per share for the current year.

Insider Activity

In related news, EVP David Sponsel sold 36,256 shares of the stock in a transaction dated Monday, February 3rd. The stock was sold at an average price of $11.42, for a total transaction of $414,043.52. Following the transaction, the executive vice president now directly owns 735,074 shares in the company, valued at approximately $8,394,545.08. This represents a 4.70 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CEO Patrick Miles sold 6,687 shares of the stock in a transaction dated Tuesday, January 21st. The stock was 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 in the company, valued at $66,020,580. This trade represents a 0.12 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 290,898 shares of company stock worth $3,327,710 over the last three months. 22.80% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Alphatec

Large investors have recently added to or reduced their stakes in the business. Comerica Bank lifted its position in Alphatec by 66.8% during the fourth quarter. Comerica Bank now owns 3,116 shares of the medical technology company’s stock worth $29,000 after buying an additional 1,248 shares during the period. R Squared Ltd purchased a new position in shares of Alphatec in the 4th quarter worth about $29,000. Nisa Investment Advisors LLC raised its holdings in shares of Alphatec by 973.3% in the 4th quarter. Nisa Investment Advisors LLC now owns 4,669 shares of the medical technology company’s stock worth $43,000 after purchasing an additional 4,234 shares during the period. Quarry LP raised its holdings in shares of Alphatec by 79.2% in the 4th quarter. Quarry LP now owns 5,374 shares of the medical technology company’s stock worth $49,000 after purchasing an additional 2,375 shares during the period. Finally, Newton One Investments LLC acquired a new stake in shares of Alphatec in the fourth quarter valued at about $50,000. 66.35% of the stock is currently owned by hedge funds and other institutional investors.

About Alphatec

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.