Alphatec (NASDAQ:ATEC) Given “Buy” Rating at HC Wainwright

Alphatec (NASDAQ:ATEC)‘s stock had its “buy” rating reissued by analysts at HC Wainwright in a research report issued on Thursday, Benzinga reports. They currently have a $20.00 target price on the medical technology company’s stock. HC Wainwright’s target price suggests a potential upside of 255.87% from the stock’s previous close.

Several other equities research analysts have also recently issued reports on ATEC. Stifel Nicolaus decreased their price objective on shares of Alphatec from $19.00 to $16.00 and set a “buy” rating for the company in a research report on Thursday, August 1st. Barclays began coverage on Alphatec in a research report on Monday, July 8th. They set an “overweight” rating and a $19.00 price objective for the company. Morgan Stanley cut Alphatec from an “overweight” rating to an “equal weight” rating in a research note on Thursday, August 1st. Canaccord Genuity Group reaffirmed a “buy” rating and issued a $20.00 target price on shares of Alphatec in a research report on Friday, August 30th. Finally, Lake Street Capital cut their target price on Alphatec from $32.00 to $18.00 and set a “buy” rating on the stock in a research report on Tuesday, September 3rd. One investment analyst has rated the stock with a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $17.00.

Alphatec Trading Up 3.7 %

NASDAQ ATEC opened at $5.62 on Thursday. The company has a debt-to-equity ratio of 30.21, a quick ratio of 1.21 and a current ratio of 2.22. The firm has a market cap of $789.39 million, a price-to-earnings ratio of -4.16 and a beta of 1.39. The firm has a 50 day simple moving average of $5.73 and a 200-day simple moving average of $8.71. Alphatec has a one year low of $4.88 and a one year high of $17.34.

Alphatec (NASDAQ:ATEC) last released its earnings results on Wednesday, October 30th. The medical technology company reported ($0.28) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.27) by ($0.01). The firm had revenue of $150.72 million for the quarter, compared to analysts’ expectations of $147.50 million. Alphatec had a negative return on equity of 816.57% and a negative net margin of 33.48%. Equities research analysts anticipate that Alphatec will post -1.08 EPS for the current fiscal year.

Insider Transactions at Alphatec

In related news, Director David M. Demski purchased 50,000 shares of the company’s stock in a transaction that occurred on Wednesday, August 21st. The shares were purchased at an average price of $5.67 per share, for a total transaction of $283,500.00. Following the transaction, the director now directly owns 288,441 shares of the company’s stock, valued at approximately $1,635,460.47. The trade was a 0.00 % increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 22.80% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Principal Financial Group Inc. raised its position in Alphatec by 15.7% during the 1st quarter. Principal Financial Group Inc. now owns 320,530 shares of the medical technology company’s stock worth $4,420,000 after buying an additional 43,530 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. boosted its holdings in Alphatec by 7.5% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 48,031 shares of the medical technology company’s stock valued at $662,000 after purchasing an additional 3,363 shares in the last quarter. BNP Paribas Financial Markets boosted its holdings in Alphatec by 276.1% in the 1st quarter. BNP Paribas Financial Markets now owns 99,790 shares of the medical technology company’s stock valued at $1,376,000 after purchasing an additional 73,257 shares in the last quarter. RiverPark Advisors LLC raised its stake in shares of Alphatec by 286.3% during the 1st quarter. RiverPark Advisors LLC now owns 19,443 shares of the medical technology company’s stock worth $268,000 after buying an additional 14,410 shares in the last quarter. Finally, Essex Investment Management Co. LLC increased its holdings in shares of Alphatec by 1.5% in the 1st quarter. Essex Investment Management Co. LLC now owns 270,968 shares of the medical technology company’s stock valued at $3,737,000 after purchasing an additional 4,112 shares in the last quarter. Institutional investors and hedge funds own 66.35% of the company’s stock.

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.