Alphatec (NASDAQ:ATEC) PT Lowered to $16.00 at Stifel Nicolaus

Alphatec (NASDAQ:ATEC) had its price objective cut by analysts at Stifel Nicolaus from $19.00 to $16.00 in a research report issued on Thursday, Benzinga reports. The firm currently has a “buy” rating on the medical technology company’s stock. Stifel Nicolaus’ price target would suggest a potential upside of 122.53% from the stock’s current price.

ATEC has been the topic of a number of other research reports. Morgan Stanley cut their target price on Alphatec from $19.00 to $16.00 and set an “overweight” rating on the stock in a research report on Monday, July 15th. Canaccord Genuity Group reiterated a “buy” rating and set a $25.00 target price on shares of Alphatec in a research report on Thursday, July 25th. Needham & Company LLC reiterated a “buy” rating and set a $23.00 target price on shares of Alphatec in a research report on Thursday. Piper Sandler dropped their price target on Alphatec from $19.00 to $17.00 and set an “overweight” rating on the stock in a research report on Wednesday, May 8th. Finally, HC Wainwright restated a “buy” rating and issued a $20.00 price target on shares of Alphatec in a research report on Thursday. One investment analyst has rated the stock with a sell rating and nine have issued a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $19.67.

Alphatec Stock Down 28.8 %

NASDAQ:ATEC traded down $2.91 during midday trading on Thursday, reaching $7.19. The company had a trading volume of 3,334,280 shares, compared to its average volume of 1,616,589. The firm has a market capitalization of $1.01 billion, a price-to-earnings ratio of -4.83 and a beta of 1.40. The stock’s fifty day simple moving average is $10.46 and its 200-day simple moving average is $12.73. Alphatec has a 12-month low of $6.97 and a 12-month high of $18.32. The company has a current ratio of 2.39, a quick ratio of 1.49 and a debt-to-equity ratio of 13.63.

Alphatec (NASDAQ:ATEC) last announced its quarterly earnings results on Wednesday, July 31st. The medical technology company reported ($0.29) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.26) by ($0.03). The business had revenue of $145.57 million for the quarter, compared to analysts’ expectations of $144.55 million. Alphatec had a negative return on equity of 1,767.81% and a negative net margin of 37.45%. The firm’s quarterly revenue was up 24.5% on a year-over-year basis. During the same period last year, the firm earned ($0.43) earnings per share. On average, sell-side analysts anticipate that Alphatec will post -1.04 earnings per share for the current fiscal year.

Insider Activity at Alphatec

In related news, General Counsel Tyson Eliot Marshall sold 50,232 shares of the company’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 value of $546,524.16. Following the sale, 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 filing with the SEC, which is available through this link. 22.80% of the stock is owned by corporate insiders.

Institutional Trading of Alphatec

A number of institutional investors and hedge funds have recently made changes to their positions in the company. Comerica Bank increased its holdings 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 purchasing an additional 2,534 shares in the last quarter. Van ECK Associates Corp increased its holdings in Alphatec by 11.8% in the 2nd quarter. Van ECK Associates Corp now owns 12,275 shares of the medical technology company’s stock valued at $128,000 after purchasing an additional 1,300 shares in the last quarter. Tidemark LLC acquired a new stake in Alphatec in the 4th quarter valued at $137,000. EntryPoint Capital LLC acquired a new stake in Alphatec in the 1st quarter valued at $141,000. Finally, Amalgamated Bank increased its holdings in Alphatec by 7.3% in the 4th quarter. Amalgamated Bank now owns 9,720 shares of the medical technology company’s stock valued at $147,000 after purchasing an additional 660 shares in the last quarter. 66.35% of the stock is currently owned by institutional investors and hedge funds.

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.