Alphatec (NASDAQ:ATEC) Given "Overweight" Rating at Piper Sandler

Piper Sandler reiterated their overweight rating on shares of Alphatec (NASDAQ:ATEC - Free Report) in a research note published on Friday morning,Benzinga reports. The brokerage currently has a $15.00 price target on the medical technology company's stock, up from their prior price target of $13.00.

Other analysts have also recently issued research reports about the stock. StockNews.com upgraded shares of Alphatec from a "sell" rating to a "hold" rating in a research report on Friday, February 28th. HC Wainwright reiterated a "buy" rating and set a $20.00 price objective on shares of Alphatec in a research note on Monday, April 14th. Needham & Company LLC reiterated a "buy" rating and set a $16.00 target price on shares of Alphatec in a research note on Friday, May 2nd. Finally, Barclays boosted their target price on shares of Alphatec from $20.00 to $21.00 and gave the company an "overweight" rating in a research report on Wednesday, January 22nd. Two analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat.com, Alphatec currently has a consensus rating of "Moderate Buy" and a consensus target price of $17.89.

Alphatec Stock Performance

Shares of ATEC traded up $0.17 during mid-day trading on Friday, hitting $12.34. 828,725 shares of the company's stock were exchanged, compared to its average volume of 2,075,764. The firm has a market cap of $1.80 billion, a price-to-earnings ratio of -9.64 and a beta of 1.06. The stock's 50-day simple moving average is $10.48 and its 200-day simple moving average is $9.98. Alphatec has a 52 week low of $4.88 and a 52 week high of $13.63. 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 - Get Free Report) last issued its quarterly earnings data on Thursday, May 1st. The medical technology company reported ($0.35) earnings per share for the quarter, missing the consensus estimate of ($0.12) by ($0.23). Alphatec had a negative return on equity of 541.39% and a negative net margin of 31.06%. The business had revenue of $169.18 million during the quarter, compared to the consensus estimate of $167.57 million. During the same period in the prior year, the firm earned ($0.34) EPS. The business's revenue for the quarter was up 22.2% compared to the same quarter last year. On average, equities research analysts expect that Alphatec will post -1.08 EPS for the current year.

Insiders Place Their Bets

In related news, COO Scott Lish sold 12,000 shares of the business's stock in a transaction on Monday, May 5th. The shares were sold at an average price of $12.12, for a total value of $145,440.00. Following the completion of the transaction, the chief operating officer now directly owns 826,251 shares in the company, valued at $10,014,162.12. The trade was a 1.43 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Patrick Miles sold 32,393 shares of the business's stock in a transaction that occurred on Wednesday, February 26th. The shares were sold at an average price of $10.89, for a total value of $352,759.77. Following the completion of the sale, the chief executive officer now owns 5,940,391 shares of the company's stock, valued at $64,690,857.99. This trade represents a 0.54 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 154,398 shares of company stock valued at $1,731,787. Insiders own 22.80% of the company's stock.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the stock. Barclays PLC raised its position in Alphatec by 362.3% in the third quarter. Barclays PLC now owns 170,546 shares of the medical technology company's stock valued at $948,000 after purchasing an additional 133,653 shares during the period. Courier Capital LLC increased its stake in Alphatec by 76.9% during the fourth quarter. Courier Capital LLC now owns 69,000 shares of the medical technology company's stock worth $633,000 after purchasing an additional 30,000 shares during the period. Ballentine Partners LLC purchased a new position in shares of Alphatec in the fourth quarter valued at approximately $120,000. Nisa Investment Advisors LLC increased its stake in Alphatec by 973.3% during the 4th quarter. Nisa Investment Advisors LLC now owns 4,669 shares of the medical technology company's stock worth $43,000 after buying an additional 4,234 shares during the period. Finally, Mount Yale Investment Advisors LLC purchased a new stake in shares of Alphatec during the fourth quarter worth $152,000. 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.