Alphatec's (ATEC) "Overweight" Rating Reiterated at Piper Sandler

Alphatec (NASDAQ:ATEC - Get Free Report)'s stock had its "overweight" rating reaffirmed by analysts at Piper Sandler in a research note issued to investors on Friday,Benzinga reports. They presently have a $15.00 price target on the medical technology company's stock, up from their previous price target of $13.00. Piper Sandler's price target indicates a potential upside of 29.59% from the company's previous close.

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

Alphatec Trading Up 4.7 %

Shares of NASDAQ ATEC traded up $0.52 during mid-day trading on Friday, hitting $11.58. The company's stock had a trading volume of 732,359 shares, compared to its average volume of 2,052,741. The company has a debt-to-equity ratio of 30.21, a current ratio of 2.32 and a quick ratio of 1.15. The stock has a market cap of $1.69 billion, a price-to-earnings ratio of -9.04 and a beta of 1.20. The company's fifty day simple moving average is $10.43 and its 200-day simple moving average is $9.82. Alphatec has a one year low of $4.88 and a one year high of $13.79.

Alphatec (NASDAQ:ATEC - Get Free Report) last released its earnings results 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 return on equity of 541.39% and a negative net margin of 31.06%. During the same quarter last year, the business posted ($0.34) EPS. The company's revenue was up 22.2% on a year-over-year basis. On average, sell-side analysts anticipate that Alphatec will post -1.08 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, CEO Patrick Miles sold 12,691 shares of the company's stock in a transaction dated Friday, March 7th. The stock was sold at an average price of $10.64, for a total transaction of $135,032.24. Following the completion of the transaction, the chief executive officer now directly owns 5,857,603 shares of the company's stock, valued at $62,324,895.92. This represents a 0.22 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP David Sponsel sold 36,256 shares of the stock in a transaction dated Monday, February 3rd. The stock was sold at an average price of $11.42, for a total value of $414,043.52. Following the transaction, the executive vice president now owns 735,074 shares of the company's stock, valued at approximately $8,394,545.08. The trade was a 4.70 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 222,113 shares of company stock valued at $2,519,725. Company insiders own 22.80% of the company's stock.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in ATEC. Royal Bank of Canada increased its position in shares of Alphatec by 171.2% in the fourth quarter. Royal Bank of Canada now owns 3,185,283 shares of the medical technology company's stock valued at $29,240,000 after acquiring an additional 2,010,806 shares during the last quarter. American Century Companies Inc. grew its stake in Alphatec by 36.5% in the fourth quarter. American Century Companies Inc. now owns 4,989,057 shares of the medical technology company's stock valued at $45,800,000 after purchasing an additional 1,334,780 shares in the last quarter. Nuveen Asset Management LLC increased its position in shares of Alphatec by 78.4% during the 4th quarter. Nuveen Asset Management LLC now owns 2,584,996 shares of the medical technology company's stock worth $23,730,000 after purchasing an additional 1,136,330 shares during the last quarter. Marshall Wace LLP increased its position in shares of Alphatec by 139.2% during the 4th quarter. Marshall Wace LLP now owns 1,773,246 shares of the medical technology company's stock worth $16,278,000 after purchasing an additional 1,032,070 shares during the last quarter. Finally, Emerald Advisers LLC raised its stake in shares of Alphatec by 112.4% during the 4th quarter. Emerald Advisers LLC now owns 1,456,033 shares of the medical technology company's stock worth $13,366,000 after purchasing an additional 770,586 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.

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