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

HC Wainwright reaffirmed their buy rating on shares of Alphatec (NASDAQ:ATEC) in a research report report published on Thursday morning, Benzinga reports. They currently have a $20.00 price target on the medical technology company’s stock.

A number of other equities research analysts have also recently issued reports on the company. Lake Street Capital dropped their price objective on Alphatec from $32.00 to $18.00 and set a “buy” rating on the stock in a research note on Tuesday, September 3rd. Wells Fargo & Company dropped their price target on Alphatec from $26.00 to $19.00 and set an “overweight” rating on the stock in a research note on Thursday, August 1st. Canaccord Genuity Group restated a “buy” rating and issued a $20.00 price target on shares of Alphatec in a research note on Friday, August 30th. Barclays initiated coverage on Alphatec in a research note on Monday, July 8th. They issued an “overweight” rating and a $19.00 price target on the stock. Finally, Needham & Company LLC restated a “buy” rating and issued a $13.00 price target on shares of Alphatec in a research note on Thursday. One analyst has rated the stock with a hold rating and eight have given a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $17.00.

Alphatec Price Performance

Shares of ATEC traded up $0.16 on Thursday, hitting $8.01. The company’s stock had a trading volume of 756,064 shares, compared to its average volume of 1,931,255. The company has a debt-to-equity ratio of 30.21, a current ratio of 2.22 and a quick ratio of 1.21. The firm’s fifty day moving average price is $5.73 and its 200-day moving average price is $8.69. Alphatec has a fifty-two week low of $4.88 and a fifty-two week high of $17.34.

Alphatec (NASDAQ:ATEC) last issued its quarterly earnings data on Wednesday, October 30th. The medical technology company reported ($0.28) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.27) by ($0.01). Alphatec had a negative net margin of 31.06% and a negative return on equity of 401.88%. The business had revenue of $150.72 million during the quarter, compared to analyst estimates of $147.50 million. On average, analysts predict that Alphatec will post -1.08 EPS for the current year.

Insiders Place Their Bets

In other Alphatec news, Director David M. Demski bought 50,000 shares of the stock in a transaction on Wednesday, August 21st. The stock was acquired at an average cost of $5.67 per share, for a total transaction of $283,500.00. Following the completion of the acquisition, the director now owns 288,441 shares in the company, valued at $1,635,460.47. This trade represents a 0.00 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available at this link. 22.80% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Alphatec

A number of large investors have recently modified their holdings of ATEC. Net Worth Advisory Group bought a new position in shares of Alphatec in the 3rd quarter worth $76,000. Comerica Bank raised its position in Alphatec by 64.8% in the 1st quarter. Comerica Bank now owns 6,443 shares of the medical technology company’s stock valued at $89,000 after buying an additional 2,534 shares during the last quarter. Van ECK Associates Corp raised its position in Alphatec by 57.0% in the 3rd quarter. Van ECK Associates Corp now owns 19,273 shares of the medical technology company’s stock valued at $99,000 after buying an additional 6,998 shares during the last quarter. Tempus Wealth Planning LLC bought a new position in Alphatec in the 3rd quarter worth about $107,000. Finally, Stephens Inc. AR boosted its stake in Alphatec by 51.4% in the 3rd 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. 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.