Alphatec’s (ATEC) “Buy” Rating Reaffirmed at HC Wainwright

Alphatec (NASDAQ:ATEC)‘s stock had its “buy” rating reiterated by analysts at HC Wainwright in a report released on Monday,Benzinga reports. They currently have a $24.00 price objective on the medical technology company’s stock. HC Wainwright’s price target indicates a potential upside of 34.00% from the company’s current price.

ATEC has been the subject of a number of other research reports. Needham & Company LLC reissued a “buy” rating and set a $22.00 price objective on shares of Alphatec in a research report on Monday. Canaccord Genuity Group lifted their price target on Alphatec from $20.00 to $25.00 and gave the company a “buy” rating in a report on Friday, October 31st. Wall Street Zen upgraded Alphatec from a “hold” rating to a “buy” rating in a report on Saturday, January 3rd. Morgan Stanley set a $23.00 target price on shares of Alphatec in a research note on Tuesday, December 2nd. Finally, Barclays increased their price target on shares of Alphatec from $23.00 to $27.00 and gave the stock an “overweight” rating in a research note on Wednesday, January 7th. Nine equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, Alphatec currently has a consensus rating of “Moderate Buy” and a consensus target price of $22.82.

Alphatec Stock Down 20.9%

NASDAQ ATEC traded down $4.74 during trading on Monday, reaching $17.91. 7,494,133 shares of the company’s stock were exchanged, compared to its average volume of 3,008,883. The company has a current ratio of 1.99, a quick ratio of 1.24 and a debt-to-equity ratio of 43.02. Alphatec has a fifty-two week low of $8.81 and a fifty-two week high of $23.29. The company’s fifty day simple moving average is $20.74 and its 200-day simple moving average is $16.42. The firm has a market capitalization of $2.66 billion, a PE ratio of -17.22 and a beta of 1.01.

Alphatec (NASDAQ:ATEC) last posted its quarterly earnings results on Thursday, October 30th. The medical technology company reported $0.03 EPS for the quarter, topping the consensus estimate of ($0.06) by $0.09. The company had revenue of $196.50 million for the quarter, compared to analyst estimates of $182.78 million. During the same quarter in the prior year, the business posted ($0.28) earnings per share. The business’s revenue for the quarter was up 30.4% compared to the same quarter last year. Sell-side analysts predict that Alphatec will post -1.08 EPS for the current year.

Insiders Place Their Bets

In related news, Director David R. Pelizzon sold 250,000 shares of the business’s stock in a transaction on Tuesday, December 16th. The shares were sold at an average price of $19.66, for a total transaction of $4,915,000.00. Following the transaction, the director owned 10,395,045 shares of the company’s stock, valued at approximately $204,366,584.70. The trade was a 2.35% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, COO Scott Lish sold 19,900 shares of the stock in a transaction on Tuesday, December 16th. The shares were sold at an average price of $19.64, for a total transaction of $390,836.00. Following the completion of the sale, the chief operating officer directly owned 641,432 shares of the company’s stock, valued at approximately $12,597,724.48. This trade represents a 3.01% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 3,403,342 shares of company stock valued at $69,816,381 in the last 90 days. 22.80% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the company. Creative Planning raised its stake in shares of Alphatec by 0.9% in the third quarter. Creative Planning now owns 58,654 shares of the medical technology company’s stock valued at $853,000 after purchasing an additional 534 shares in the last quarter. Valeo Financial Advisors LLC increased its holdings in Alphatec by 2.1% in the 3rd quarter. Valeo Financial Advisors LLC now owns 41,296 shares of the medical technology company’s stock valued at $600,000 after buying an additional 846 shares during the period. Norden Group LLC raised its stake in shares of Alphatec by 2.6% in the 3rd quarter. Norden Group LLC now owns 36,676 shares of the medical technology company’s stock valued at $533,000 after buying an additional 939 shares in the last quarter. Arizona State Retirement System raised its stake in shares of Alphatec by 2.8% in the 3rd quarter. Arizona State Retirement System now owns 34,603 shares of the medical technology company’s stock valued at $503,000 after buying an additional 949 shares in the last quarter. Finally, Ameritas Investment Partners Inc. lifted its holdings in shares of Alphatec by 8.8% during the 2nd quarter. Ameritas Investment Partners Inc. now owns 11,845 shares of the medical technology company’s stock worth $131,000 after acquiring an additional 955 shares during the period. 66.35% of the stock is currently 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.