StockNews.com Upgrades Alphatec (NASDAQ:ATEC) to Hold

Alphatec (NASDAQ:ATEC) was upgraded by equities research analysts at StockNews.com from a “sell” rating to a “hold” rating in a note issued to investors on Friday.

Other equities research analysts have also issued reports about the company. Barclays lifted their price target on Alphatec from $20.00 to $21.00 and gave the company an “overweight” rating in a research report on Wednesday, January 22nd. HC Wainwright restated a “buy” rating and set a $20.00 price target on shares of Alphatec in a research report on Tuesday, January 14th. Needham & Company LLC reissued a “buy” rating and issued a $16.00 target price on shares of Alphatec in a report on Thursday. Finally, Piper Sandler boosted their target price on Alphatec from $12.00 to $13.00 and gave the stock an “overweight” rating in a report on Thursday. Two research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $17.67.

Alphatec Price Performance

ATEC opened at $12.53 on Friday. The company has a debt-to-equity ratio of 30.21, a quick ratio of 1.15 and a current ratio of 2.32. Alphatec has a 52-week low of $4.88 and a 52-week high of $14.88. The stock has a market capitalization of $1.78 billion, a PE ratio of -9.79 and a beta of 1.43. The stock’s 50 day moving average price is $10.70 and its 200-day moving average price is $8.42.

Alphatec (NASDAQ:ATEC) last released its quarterly earnings results 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). Alphatec had a negative net margin of 31.06% and a negative return on equity of 541.39%. The firm had revenue of $176.79 million for the quarter, compared to the consensus estimate of $172.74 million. On average, equities research analysts predict that Alphatec will post -1.08 EPS for the current year.

Insider Activity

In other news, EVP David Sponsel sold 58,283 shares of the company’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 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 ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, COO Scott Lish sold 27,453 shares of the company’s stock in a transaction on Thursday, February 6th. The shares were sold at an average price of $11.49, for a total value of $315,434.97. Following the transaction, the chief operating officer now directly owns 867,677 shares in the company, valued at approximately $9,969,608.73. The trade was a 3.07 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 290,898 shares of company stock valued at $3,327,710 over the last ninety days. 22.80% of the stock is currently owned by corporate insiders.

Institutional Trading of Alphatec

A number of hedge funds have recently bought and sold shares of ATEC. R Squared Ltd purchased a new stake in Alphatec during the fourth quarter valued at $29,000. Comerica Bank increased its position in Alphatec by 66.8% during the fourth quarter. Comerica Bank now owns 3,116 shares of the medical technology company’s stock valued at $29,000 after acquiring an additional 1,248 shares during the last quarter. Nisa Investment Advisors LLC increased its position in Alphatec by 973.3% during the fourth quarter. Nisa Investment Advisors LLC now owns 4,669 shares of the medical technology company’s stock valued at $43,000 after acquiring an additional 4,234 shares during the last quarter. Quarry LP increased its position in Alphatec by 79.2% during the fourth quarter. Quarry LP now owns 5,374 shares of the medical technology company’s stock valued at $49,000 after acquiring an additional 2,375 shares during the last quarter. Finally, Newton One Investments LLC purchased a new stake in Alphatec during the fourth quarter valued at $50,000. Hedge funds and other institutional investors 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.