HC Wainwright Reaffirms Buy Rating for Alphatec (NASDAQ:ATEC)

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

Other equities research analysts have also recently issued reports about the company. Morgan Stanley decreased their price objective on Alphatec from $19.00 to $16.00 and set an overweight rating for the company in a research note on Monday, July 15th. Needham & Company LLC reiterated a buy rating and issued a $23.00 price target on shares of Alphatec in a research report on Thursday. Canaccord Genuity Group reaffirmed a buy rating and issued a $25.00 target price on shares of Alphatec in a research note on Thursday, July 25th. Barclays assumed coverage on shares of Alphatec in a research report on Monday, July 8th. They issued an overweight rating and a $19.00 price objective for the company. Finally, Piper Sandler lowered their price target on Alphatec from $19.00 to $17.00 and set an overweight rating for the company in a report on Wednesday, May 8th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat, Alphatec has an average rating of Moderate Buy and an average price target of $19.11.

Alphatec Price Performance

Shares of Alphatec stock traded down $0.45 during midday trading on Thursday, reaching $5.85. The company had a trading volume of 618,682 shares, compared to its average volume of 1,719,235. The company has a current ratio of 2.22, a quick ratio of 1.49 and a debt-to-equity ratio of 30.21. The stock has a fifty day simple moving average of $10.30 and a 200 day simple moving average of $12.58. Alphatec has a 1-year low of $5.74 and a 1-year high of $17.34. The company has a market capitalization of $821.69 million, a price-to-earnings ratio of -4.23 and a beta of 1.40.

Alphatec (NASDAQ:ATEC) last released its earnings results on Wednesday, July 31st. The medical technology company reported ($0.29) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.26) by ($0.03). The firm had revenue of $145.57 million for the quarter, compared to the consensus estimate of $144.55 million. Alphatec had a negative return on equity of 816.57% and a negative net margin of 33.48%. The company’s revenue was up 24.5% compared to the same quarter last year. During the same quarter in the previous year, the firm earned ($0.43) EPS. As a group, equities research analysts forecast that Alphatec will post -1.04 earnings per share for the current year.

Insider Buying and Selling

In other Alphatec news, General Counsel Tyson Eliot Marshall sold 50,232 shares of the business’s stock in a transaction that occurred on Wednesday, June 12th. The stock was sold at an average price of $10.88, for a total transaction of $546,524.16. Following the transaction, the general counsel now owns 245,638 shares of the company’s stock, valued at approximately $2,672,541.44. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 22.80% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the company. Cerity Partners LLC bought a new position in Alphatec during the fourth quarter worth about $28,451,000. Charles Schwab Investment Management Inc. boosted its stake in shares of Alphatec by 20.2% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 746,781 shares of the medical technology company’s stock worth $11,284,000 after acquiring an additional 125,488 shares during the period. Pura Vida Investments LLC acquired a new position in shares of Alphatec during the 4th quarter worth approximately $4,609,000. First Light Asset Management LLC raised its stake in Alphatec by 97.0% in the 4th quarter. First Light Asset Management LLC now owns 5,976,851 shares of the medical technology company’s stock valued at $90,310,000 after acquiring an additional 2,943,310 shares during the period. Finally, Congress Asset Management Co. MA bought a new stake in Alphatec in the 1st quarter valued at $1,829,000. 66.35% of the stock is currently owned by institutional investors and hedge funds.

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.