Alphatec (NASDAQ:ATEC) Price Target Raised to $12.00

Alphatec (NASDAQ:ATEC) had its price target hoisted by BMO Capital Markets from $11.00 to $12.00 in a research report released on Wednesday, Marketbeat.com reports. BMO Capital Markets currently has an outperform rating on the medical technology company’s stock.

Several other equities analysts have also issued reports on the company. JPMorgan Chase & Co. dropped their price objective on Alphatec from $24.00 to $16.00 and set an “overweight” rating on the stock in a report on Wednesday, May 6th. Wells Fargo & Company decreased their target price on Alphatec from $28.00 to $14.00 and set an “overweight” rating for the company in a research report on Thursday, May 7th. Stephens initiated coverage on Alphatec in a research note on Thursday, July 23rd. They set an “overweight” rating and a $15.00 price target on the stock. HC Wainwright reaffirmed a “buy” rating and set a $24.00 price target on shares of Alphatec in a research report on Thursday, May 7th. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of Alphatec in a research note on Monday. Thirteen research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $17.40.

Alphatec Stock Up 1.1%

Shares of NASDAQ:ATEC opened at $9.31 on Wednesday. The firm has a 50 day simple moving average of $8.79 and a 200-day simple moving average of $10.70. Alphatec has a twelve month low of $6.82 and a twelve month high of $23.29. The company has a current ratio of 1.89, a quick ratio of 1.12 and a debt-to-equity ratio of 40.35. The company has a market capitalization of $1.44 billion, a PE ratio of -13.11 and a beta of 0.85.

Alphatec (NASDAQ:ATEC) last posted its earnings results on Tuesday, August 4th. The medical technology company reported $0.07 EPS for the quarter, meeting analysts’ consensus estimates of $0.07. Alphatec had a negative net margin of 13.49% and a negative return on equity of 6,752.24%. The firm had revenue of $213.51 million for the quarter, compared to the consensus estimate of $211.26 million. During the same period last year, the firm posted $0.02 EPS. The company’s revenue was up 15.1% on a year-over-year basis. On average, equities analysts predict that Alphatec will post -0.44 EPS for the current fiscal year.

Insider Activity at Alphatec

In other Alphatec news, Director Karen K. Mcginnis sold 6,050 shares of the company’s stock in a transaction that occurred on Thursday, June 11th. The stock was sold at an average price of $8.01, for a total transaction of $48,460.50. Following the completion of the sale, the director directly owned 94,671 shares of the company’s stock, valued at $758,314.71. This represents a 6.01% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, General Counsel Tyson Eliot Marshall sold 8,168 shares of Alphatec stock in a transaction that occurred on Wednesday, August 5th. The shares were sold at an average price of $9.65, for a total value of $78,821.20. Following the completion of the transaction, the general counsel owned 630,398 shares in the company, valued at $6,083,340.70. This trade represents a 1.28% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. 13.48% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Alphatec

Several institutional investors have recently bought and sold shares of ATEC. Summit Securities Group LLC acquired a new stake in shares of Alphatec in the 1st quarter worth $29,000. Osterweis Capital Management Inc. acquired a new position in shares of Alphatec during the second quarter worth about $37,000. Northwestern Mutual Wealth Management Co. raised its holdings in Alphatec by 157.1% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 2,571 shares of the medical technology company’s stock worth $54,000 after purchasing an additional 1,571 shares in the last quarter. Atlas Brown Inc. acquired a new stake in Alphatec in the second quarter valued at about $111,000. Finally, Lido Advisors LLC acquired a new stake in Alphatec in the first quarter valued at about $115,000. 66.35% of the stock is owned by institutional investors and hedge funds.

About Alphatec

Alphatec Holdings, Inc (NASDAQ: ATEC) is a medical technology company focused on the design, development and commercialization of products for the surgical correction of degenerative spinal conditions. The company’s portfolio centers on interbody implants, biologics, fixation devices and surgical planning tools intended to improve patient outcomes in spinal fusion procedures. Alphatec’s flagship offerings include customizable interbody cages, bone graft materials and specialized instrumentation designed for minimally invasive and open spinal surgeries.

Founded as Alphatec Spine in 1985 and rebranded as Alphatec Holdings in 2018, the company has grown from a single-product organization into a multi-platform innovator in the spine market.