Barclays Issues Positive Forecast for Alphatec (NASDAQ:ATEC) Stock Price

Key Points

• Barclays has raised its price target for Alphatec (NASDAQ: ATEC) from $21.00 to $22.00, indicating a potential upside of 53.98% from the current share price.
• Alphatec recently reported a quarterly earnings per share of $0.02, exceeding expectations and showing a 27.5% increase in revenue year-over-year.
• Insider activity shows significant share sales, with COO Scott Lish selling 55,375 shares recently, indicating a 6.70% decrease in his position.

Alphatec (NASDAQ:ATEC - Get Free Report) had its price objective upped by investment analysts at Barclays from $21.00 to $22.00 in a report released on Monday,Benzinga reports. The firm presently has an "overweight" rating on the medical technology company's stock. Barclays's target price suggests a potential upside of 53.98% from the company's previous close.

Several other equities research analysts also recently weighed in on ATEC. Needham & Company LLC restated a "buy" rating and set a $16.00 price target on shares of Alphatec in a report on Friday, May 2nd. Piper Sandler reissued an "overweight" rating and set a $15.00 price objective (up from $13.00) on shares of Alphatec in a research report on Friday, May 2nd. HC Wainwright reaffirmed a "buy" rating and issued a $20.00 target price on shares of Alphatec in a report on Monday, April 14th. Lake Street Capital upgraded shares of Alphatec to a "buy" rating and set a $18.00 price target for the company in a research note on Monday, June 16th. Finally, Canaccord Genuity Group reissued a "buy" rating and issued a $20.00 price objective on shares of Alphatec in a research report on Friday. One investment analyst has rated the stock with a hold rating and six have given a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $18.50.

Alphatec Stock Up 3.8%

ATEC traded up $0.52 during trading hours on Monday, hitting $14.29. 1,379,354 shares of the company's stock were exchanged, compared to its average volume of 1,979,365. The firm has a market cap of $2.11 billion, a P/E ratio of -12.65 and a beta of 1.05. Alphatec has a 12-month low of $4.88 and a 12-month high of $14.50. The company has a current ratio of 2.88, a quick ratio of 1.77 and a debt-to-equity ratio of 23.22. The firm has a 50 day moving average of $11.37 and a 200 day moving average of $11.15.

Alphatec (NASDAQ:ATEC - Get Free Report) last posted its quarterly earnings results on Thursday, July 31st. The medical technology company reported $0.02 EPS for the quarter, topping the consensus estimate of ($0.06) by $0.08. Alphatec had a negative net margin of 24.33% and a negative return on equity of 1,657.19%. The business had revenue of $185.54 million during the quarter, compared to the consensus estimate of $178.85 million. During the same quarter in the previous year, the firm posted ($0.29) earnings per share. The company's quarterly revenue was up 27.5% compared to the same quarter last year. Analysts predict that Alphatec will post -1.08 EPS for the current fiscal year.

Insider Activity at Alphatec

In other news, COO Scott Lish sold 55,375 shares of the company's stock in a transaction on Monday, May 19th. The shares were 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 owned 771,645 shares in the company, valued at approximately $10,031,385. This represents a 6.70% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Karen K. Mcginnis sold 3,963 shares of Alphatec stock in a transaction on Wednesday, June 11th. The stock was sold at an average price of $12.11, for a total transaction of $47,991.93. Following the sale, the director owned 68,709 shares in the company, valued at $832,065.99. This represents a 5.45% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 287,547 shares of company stock valued at $3,553,516 over the last three months. 22.80% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Alphatec

Several large investors have recently bought and sold shares of the stock. Lido Advisors LLC lifted its holdings in shares of Alphatec by 8.4% in the 4th quarter. Lido Advisors LLC now owns 12,247 shares of the medical technology company's stock valued at $112,000 after purchasing an additional 953 shares during the last quarter. Nisa Investment Advisors LLC increased its position in Alphatec by 22.4% during the second quarter. Nisa Investment Advisors LLC now owns 5,714 shares of the medical technology company's stock worth $63,000 after buying an additional 1,045 shares during the period. Oppenheimer Asset Management Inc. increased its position in Alphatec by 8.4% during the second quarter. Oppenheimer Asset Management Inc. now owns 14,244 shares of the medical technology company's stock worth $158,000 after buying an additional 1,100 shares during the period. Comerica Bank lifted its stake in Alphatec by 66.8% in the fourth quarter. Comerica Bank now owns 3,116 shares of the medical technology company's stock valued at $29,000 after buying an additional 1,248 shares during the last quarter. Finally, Summit Investment Advisors Inc. boosted its holdings 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 valued at $100,000 after acquiring an additional 1,342 shares during the period. Institutional investors and hedge funds own 66.35% of the company's stock.

Alphatec Company Profile

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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