Alphatec (NASDAQ:ATEC) Stock Price Expected to Rise, Piper Sandler Analyst Says

Alphatec (NASDAQ:ATEC) had its price objective increased by investment analysts at Piper Sandler from $12.00 to $13.00 in a research note issued on Thursday,Benzinga reports. The firm presently has an “overweight” rating on the medical technology company’s stock. Piper Sandler’s price target suggests a potential upside of 3.75% from the stock’s previous close.

Other equities research analysts have also issued research reports about the stock. HC Wainwright reiterated a “buy” rating and set a $20.00 price objective on shares of Alphatec in a research note on Tuesday, January 14th. Needham & Company LLC restated a “buy” rating and issued a $16.00 price target on shares of Alphatec in a research note on Thursday. Finally, Barclays raised their price target on shares of Alphatec from $20.00 to $21.00 and gave the company an “overweight” rating in a research note on Wednesday, January 22nd. Two investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $17.67.

Alphatec Price Performance

ATEC opened at $12.53 on Thursday. The firm has a market cap of $1.78 billion, a price-to-earnings ratio of -9.79 and a beta of 1.43. Alphatec has a fifty-two week low of $4.88 and a fifty-two week high of $14.88. The company’s 50-day moving average price is $10.63 and its 200 day moving average price is $8.37. The company has a quick ratio of 1.15, a current ratio of 2.32 and a debt-to-equity ratio of 30.21.

Alphatec (NASDAQ:ATEC) last released its quarterly earnings data on Wednesday, February 26th. The medical technology company reported ($0.23) earnings per share for the quarter, missing the consensus estimate of ($0.19) by ($0.04). The business had revenue of $176.79 million for the quarter, compared to analyst estimates of $172.74 million. Alphatec had a negative return on equity of 541.39% and a negative net margin of 31.06%. As a group, sell-side analysts expect that Alphatec will post -1.08 earnings per share for the current year.

Insider Activity at Alphatec

In related news, COO Scott Lish sold 23,183 shares of the firm’s stock in a transaction that occurred on Thursday, February 27th. The shares were sold at an average price of $12.03, for a total value of $278,891.49. Following the completion of the transaction, the chief operating officer now owns 844,494 shares of the company’s stock, valued at approximately $10,159,262.82. This trade represents a 2.67 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP David Sponsel sold 58,283 shares of the firm’s stock in a transaction that occurred 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 directly owns 502,311 shares of the company’s stock, valued at $5,379,750.81. This represents a 10.40 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 290,898 shares of company stock worth $3,327,710 over the last quarter. 22.80% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Alphatec

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. BNP PARIBAS ASSET MANAGEMENT Holding S.A. boosted its stake in Alphatec by 11.3% in the 3rd quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 2,928,094 shares of the medical technology company’s stock worth $16,280,000 after purchasing an additional 297,850 shares during the period. Barclays PLC lifted its position in Alphatec by 362.3% in the 3rd quarter. Barclays PLC now owns 170,546 shares of the medical technology company’s stock worth $948,000 after buying an additional 133,653 shares in the last quarter. Franklin Resources Inc. lifted its position in Alphatec by 299.3% in the 3rd quarter. Franklin Resources Inc. now owns 64,450 shares of the medical technology company’s stock worth $343,000 after buying an additional 48,308 shares in the last quarter. AlphaCentric Advisors LLC purchased a new stake in Alphatec in the 3rd quarter worth approximately $2,057,000. Finally, Royce & Associates LP lifted its position in Alphatec by 15.9% in the 3rd quarter. Royce & Associates LP now owns 1,212,286 shares of the medical technology company’s stock worth $6,740,000 after buying an additional 165,954 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.