Alphatec (NASDAQ:ATEC) Price Target Cut to $19.00

Alphatec (NASDAQ:ATEC) had its price objective decreased by equities researchers at Stifel Nicolaus from $24.00 to $19.00 in a research report issued to clients and investors on Thursday, Benzinga reports. The firm presently has a “buy” rating on the medical technology company’s stock. Stifel Nicolaus’ target price would indicate a potential upside of 68.89% from the stock’s current price.

Several other research firms also recently issued reports on ATEC. Piper Sandler cut their price objective on Alphatec from $19.00 to $17.00 and set an “overweight” rating on the stock in a report on Wednesday, May 8th. Barclays initiated coverage on Alphatec in a report on Monday, July 8th. They issued an “overweight” rating and a $19.00 price objective on the stock. Needham & Company LLC reissued a “buy” rating and set a $23.00 target price on shares of Alphatec in a research note on Wednesday, May 8th. Finally, Canaccord Genuity Group reissued a “buy” rating and set a $25.00 target price on shares of Alphatec in a research note on Wednesday, March 20th. One research analyst has rated the stock with a sell rating and nine have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $20.89.

Alphatec Stock Performance

Shares of NASDAQ:ATEC opened at $11.25 on Thursday. The business’s 50 day moving average price is $10.58 and its 200-day moving average price is $13.08. The firm has a market capitalization of $1.57 billion, a PE ratio of -7.55 and a beta of 1.40. The company has a debt-to-equity ratio of 13.63, a current ratio of 2.39 and a quick ratio of 1.49. Alphatec has a 1 year low of $8.66 and a 1 year high of $19.14.

Alphatec (NASDAQ:ATEC) last released its quarterly earnings data on Tuesday, May 7th. The medical technology company reported ($0.34) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.33) by ($0.01). The company had revenue of $138.48 million for the quarter, compared to analyst estimates of $134.07 million. Alphatec had a negative return on equity of 1,767.81% and a negative net margin of 37.45%. The business’s quarterly revenue was up 26.9% on a year-over-year basis. During the same period last year, the firm posted ($0.40) EPS. As a group, equities research analysts expect that Alphatec will post -1.04 earnings per share for the current fiscal year.

Insider Transactions at Alphatec

In other news, General Counsel Tyson Eliot Marshall sold 50,232 shares of the company’s stock in a transaction dated Wednesday, June 12th. The stock was sold at an average price of $10.88, for a total transaction of $546,524.16. Following the completion of the transaction, the general counsel now directly 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 SEC, which is available at this hyperlink. In related news, CFO John Todd Koning sold 37,500 shares of the company’s stock in a transaction dated Wednesday, April 24th. The stock was sold at an average price of $12.82, for a total value of $480,750.00. Following the completion of the sale, the chief financial officer now directly owns 393,356 shares of the company’s stock, valued at approximately $5,042,823.92. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, General Counsel Tyson Eliot Marshall sold 50,232 shares of the company’s stock in a transaction dated Wednesday, June 12th. The shares were sold at an average price of $10.88, for a total value of $546,524.16. Following the completion of the sale, the general counsel now directly owns 245,638 shares of the company’s stock, valued at $2,672,541.44. The disclosure for this sale can be found here. Insiders own 22.80% of the company’s stock.

Institutional Trading of Alphatec

A number of large investors have recently made changes to their positions in ATEC. First Light Asset Management LLC raised its stake in Alphatec by 97.0% during 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 last quarter. Cerity Partners LLC purchased a new stake in Alphatec during the 4th quarter valued at approximately $28,451,000. Artisan Partners Limited Partnership purchased a new stake in Alphatec during the 4th quarter valued at approximately $19,050,000. Goldman Sachs Group Inc. raised its stake in Alphatec by 93.9% during the 4th quarter. Goldman Sachs Group Inc. now owns 1,451,499 shares of the medical technology company’s stock valued at $21,932,000 after acquiring an additional 702,950 shares during the last quarter. Finally, BNP PARIBAS ASSET MANAGEMENT Holding S.A. raised its stake in Alphatec by 48.1% during the 1st quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 2,125,042 shares of the medical technology company’s stock valued at $29,305,000 after acquiring an additional 690,022 shares during the last quarter. 66.35% of the stock is 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.