Alphatec (NASDAQ:ATEC) PT Lowered to $17.00

Alphatec (NASDAQ:ATEC) had its price target decreased by Piper Sandler from $19.00 to $17.00 in a research report released on Wednesday, Benzinga reports. Piper Sandler currently has an overweight rating on the medical technology company’s stock.

Several other research firms also recently weighed in on ATEC. Wells Fargo & Company initiated coverage on Alphatec in a report on Friday, February 9th. They issued an overweight rating and a $26.00 price objective for the company. Canaccord Genuity Group reissued a buy rating and set a $25.00 price objective on shares of Alphatec in a research report on Wednesday, March 20th. HC Wainwright restated a buy rating and issued a $20.00 price objective on shares of Alphatec in a research note on Monday, March 4th. Finally, Needham & Company LLC reiterated a buy rating and set a $23.00 target price on shares of Alphatec in a research note on Wednesday. One investment analyst has rated the stock with a sell rating and eight have assigned a buy rating to the company. Based on data from MarketBeat.com, Alphatec presently has an average rating of Moderate Buy and an average target price of $22.89.

Alphatec Trading Down 21.9 %

NASDAQ ATEC opened at $10.60 on Wednesday. Alphatec has a 12 month low of $8.66 and a 12 month high of $19.14. The company has a market capitalization of $1.48 billion, a price-to-earnings ratio of -6.84 and a beta of 1.48. The company has a debt-to-equity ratio of 6.54, a current ratio of 2.86 and a quick ratio of 1.99. The firm’s fifty day moving average price is $13.25 and its 200 day moving average price is $13.54.

Alphatec (NASDAQ:ATEC) last posted its earnings results on Tuesday, May 7th. The medical technology company reported ($0.34) EPS for the quarter, missing analysts’ consensus estimates of ($0.33) by ($0.01). The firm had revenue of $138.48 million during the quarter, compared to analyst estimates of $134.07 million. The business’s quarterly revenue was up 26.9% on a year-over-year basis. During the same quarter in the prior year, the business earned ($0.40) EPS. On average, sell-side analysts expect that Alphatec will post -1.1 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Alphatec news, CFO John Todd Koning sold 37,500 shares of the business’s stock in a transaction that occurred on Wednesday, April 24th. The stock was sold at an average price of $12.82, for a total transaction of $480,750.00. Following the transaction, the chief financial officer now owns 393,356 shares in the company, valued at approximately $5,042,823.92. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Alphatec news, EVP David Sponsel sold 2,500 shares of the firm’s stock in a transaction on Wednesday, February 14th. The stock was sold at an average price of $16.16, for a total value of $40,400.00. Following the completion of the sale, the executive vice president now owns 637,418 shares of the company’s stock, valued at $10,300,674.88. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CFO John Todd Koning sold 37,500 shares of the company’s stock in a transaction on Wednesday, April 24th. The stock was sold at an average price of $12.82, for a total transaction of $480,750.00. Following the transaction, the chief financial officer now directly owns 393,356 shares in the company, valued at $5,042,823.92. The disclosure for this sale can be found here. Insiders sold 285,069 shares of company stock valued at $3,971,495 over the last ninety days. Corporate insiders own 29.12% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. RiverPark Advisors LLC purchased a new stake in shares of Alphatec during the 3rd quarter worth approximately $53,000. Provence Wealth Management Group acquired a new position in Alphatec during the third quarter worth $56,000. Van ECK Associates Corp purchased a new stake in Alphatec during the third quarter worth $113,000. Tidemark LLC acquired a new stake in Alphatec in the fourth quarter valued at $137,000. Finally, Amalgamated Bank increased its position in shares of Alphatec by 7.3% in the fourth quarter. Amalgamated Bank now owns 9,720 shares of the medical technology company’s stock valued at $147,000 after buying an additional 660 shares in the last quarter. 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.