Alphatec (NASDAQ:ATEC) Now Covered by Lake Street Capital

Equities research analysts at Lake Street Capital started coverage on shares of Alphatec (NASDAQ:ATEC - Get Free Report) in a research report issued to clients and investors on Monday. The firm set a "buy" rating and a $18.00 price target on the medical technology company's stock. Lake Street Capital's target price would indicate a potential upside of 62.62% from the company's previous close.

A number of other research firms have also recently weighed in on ATEC. Wall Street Zen raised shares of Alphatec from a "sell" rating to a "hold" rating in a report on Friday, February 28th. HC Wainwright reissued a "buy" rating and set a $20.00 price target on shares of Alphatec in a report on Monday, April 14th. Needham & Company LLC reissued a "buy" rating and issued a $16.00 price objective on shares of Alphatec in a report on Friday, May 2nd. Finally, Piper Sandler reissued an "overweight" rating and set a $15.00 target price (up previously from $13.00) on shares of Alphatec in a research note on Friday, May 2nd. Two equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat, Alphatec currently has an average rating of "Moderate Buy" and a consensus target price of $17.89.

Alphatec Trading Up 0.1%

Shares of Alphatec stock traded up $0.01 during trading hours on Monday, reaching $11.07. 115,984 shares of the company's stock were exchanged, compared to its average volume of 2,052,565. The firm has a market capitalization of $1.62 billion, a price-to-earnings ratio of -8.64 and a beta of 1.10. The company has a current ratio of 2.32, a quick ratio of 1.15 and a debt-to-equity ratio of 30.21. Alphatec has a 52-week low of $4.88 and a 52-week high of $13.14. The company has a fifty day moving average of $11.68 and a 200-day moving average of $10.83.

Alphatec (NASDAQ:ATEC - Get Free Report) last posted its quarterly earnings data on Thursday, May 1st. The medical technology company reported ($0.35) EPS for the quarter, missing analysts' consensus estimates of ($0.12) by ($0.23). Alphatec had a negative net margin of 31.06% and a negative return on equity of 541.39%. The company had revenue of $169.18 million for the quarter, compared to analyst estimates of $167.57 million. During the same period in the prior year, the company earned ($0.34) EPS. The company's revenue was up 22.2% compared to the same quarter last year. Sell-side analysts forecast that Alphatec will post -1.08 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, Director Karen K. Mcginnis sold 3,963 shares of the business's stock in a transaction dated Wednesday, June 11th. The stock was sold at an average price of $12.11, for a total transaction of $47,991.93. Following the completion of the transaction, the director now owns 68,709 shares of the company's stock, valued at approximately $832,065.99. The trade was a 5.45% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, COO Scott Lish sold 55,375 shares of Alphatec stock in a transaction that occurred on Monday, May 19th. The stock was sold at an average price of $13.00, for a total value of $719,875.00. Following the completion of the transaction, the chief operating officer now directly owns 771,645 shares in the company, valued at approximately $10,031,385. This represents a 6.70% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 271,338 shares of company stock valued at $3,381,584 over the last three months. 20.90% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Alphatec

A number of hedge funds have recently modified their holdings of the stock. Lido Advisors LLC lifted its stake in Alphatec by 8.4% during the 4th quarter. Lido Advisors LLC now owns 12,247 shares of the medical technology company's stock valued at $112,000 after acquiring an additional 953 shares in the last quarter. PNC Financial Services Group Inc. lifted its stake in Alphatec by 0.4% in the fourth quarter. PNC Financial Services Group Inc. now owns 312,954 shares of the medical technology company's stock valued at $2,873,000 after purchasing an additional 1,120 shares during the last quarter. Comerica Bank grew its stake in shares of Alphatec by 66.8% during the 4th quarter. Comerica Bank now owns 3,116 shares of the medical technology company's stock worth $29,000 after acquiring an additional 1,248 shares during the period. Summit Investment Advisors Inc. increased its stake in shares of Alphatec by 14.1% in the fourth quarter. Summit Investment Advisors Inc. now owns 10,890 shares of the medical technology company's stock worth $100,000 after purchasing an additional 1,342 shares in the last quarter. Finally, Oppenheimer Asset Management Inc. raised its holdings in Alphatec by 13.4% during the 1st quarter. Oppenheimer Asset Management Inc. now owns 13,144 shares of the medical technology company's stock valued at $133,000 after acquiring an additional 1,552 shares during the period. 66.35% of the stock is 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.

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