Piper Sandler Increases Alphatec (NASDAQ:ATEC) Price Target to $13.00

Alphatec (NASDAQ:ATEC) had its target price boosted by Piper Sandler from $12.00 to $13.00 in a report issued on Thursday morning,Benzinga reports. They currently have an overweight rating on the medical technology company’s stock.

Several other research firms also recently weighed in on ATEC. Needham & Company LLC reiterated a “buy” rating and issued a $16.00 target price on shares of Alphatec in a report on Thursday. HC Wainwright reiterated a “buy” rating and issued a $20.00 target price on shares of Alphatec in a report on Tuesday, January 14th. Finally, Barclays lifted their target price on shares of Alphatec from $20.00 to $21.00 and gave the company an “overweight” rating in a report on Wednesday, January 22nd. One research analyst has rated the stock with a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $17.67.

Alphatec Stock Up 9.6 %

ATEC stock opened at $12.12 on Thursday. The firm has a market cap of $1.72 billion, a PE ratio of -9.47 and a beta of 1.43. The company has a debt-to-equity ratio of 30.21, a quick ratio of 1.15 and a current ratio of 2.32. The firm’s 50 day moving average price is $10.57 and its 200-day moving average price is $8.35. Alphatec has a one year low of $4.88 and a one year high of $15.01.

Alphatec (NASDAQ:ATEC) last released its quarterly earnings results on Wednesday, February 26th. The medical technology company reported ($0.23) EPS for the quarter, missing the consensus estimate of ($0.19) by ($0.04). The firm had revenue of $176.79 million for the quarter, compared to analysts’ expectations of $172.74 million. Alphatec had a negative net margin of 31.06% and a negative return on equity of 541.39%. On average, equities research analysts anticipate that Alphatec will post -1.08 EPS for the current year.

Insiders Place Their Bets

In other Alphatec news, CEO Patrick Miles sold 32,393 shares of the business’s stock in a transaction on Wednesday, February 26th. The shares were sold at an average price of $10.89, for a total value of $352,759.77. Following the completion of the transaction, the chief executive officer now owns 5,940,391 shares in the company, valued at $64,690,857.99. The trade was a 0.54 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, EVP David Sponsel sold 58,283 shares of the business’s stock in a transaction on Monday, January 13th. The stock was sold at an average price of $10.71, for a total transaction of $624,210.93. Following the completion of the transaction, the executive vice president now owns 502,311 shares of the company’s stock, valued at approximately $5,379,750.81. This trade represents a 10.40 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 267,715 shares of company stock worth $3,048,819 over the last 90 days. Corporate insiders own 22.80% of the company’s stock.

Hedge Funds Weigh In On Alphatec

A number of institutional investors and hedge funds have recently modified their holdings of the company. Lido Advisors LLC grew its stake in shares of Alphatec by 8.4% during the fourth quarter. Lido Advisors LLC now owns 12,247 shares of the medical technology company’s stock worth $112,000 after purchasing an additional 953 shares in the last quarter. PNC Financial Services Group Inc. grew its stake in shares of Alphatec by 0.4% during the fourth quarter. PNC Financial Services Group Inc. now owns 312,954 shares of the medical technology company’s stock worth $2,873,000 after purchasing an additional 1,120 shares in the last quarter. Comerica Bank grew its stake in shares of 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 purchasing an additional 1,248 shares in the last quarter. Summit Investment Advisors Inc. grew its stake in shares of Alphatec by 14.1% during the fourth quarter. Summit Investment Advisors Inc. now owns 10,890 shares of the medical technology company’s stock worth $100,000 after purchasing an additional 1,342 shares in the last quarter. Finally, Atria Investments Inc grew its stake in shares of Alphatec by 8.0% during the third quarter. Atria Investments Inc now owns 19,609 shares of the medical technology company’s stock worth $109,000 after purchasing an additional 1,460 shares in the last quarter. Institutional investors and hedge funds own 66.35% of the company’s stock.

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.