Alphatec (NASDAQ:ATEC) Given Overweight Rating at Barclays

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)'s stock had its "overweight" rating restated by Barclays in a note issued to investors on Monday, MarketBeat reports. They presently have a $22.00 price objective on the medical technology company's stock, up from their prior price objective of $21.00. Barclays's price target would indicate a potential upside of 46.96% from the company's previous close.

Other equities research analysts have also recently issued research reports about the stock. Needham & Company LLC restated a "buy" rating and issued a $16.00 target price on shares of Alphatec in a report on Friday, May 2nd. HC Wainwright restated a "buy" rating and set a $20.00 target price on shares of Alphatec in a research note on Monday, April 14th. Piper Sandler restated 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. Lake Street Capital upgraded shares of Alphatec to a "buy" rating and set a $18.00 price target on the stock in a report on Monday, June 16th. Finally, Canaccord Genuity Group reiterated a "buy" rating and issued a $20.00 price target on shares of Alphatec in a report on Friday, August 1st. One research analyst has rated the stock with a hold rating and six have issued a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $18.50.

Alphatec Stock Up 0.5%

Shares of ATEC traded up $0.07 on Monday, hitting $14.97. 1,745,343 shares of the stock traded hands, compared to its average volume of 2,816,030. The company has a market capitalization of $2.22 billion, a PE ratio of -13.25 and a beta of 1.05. The company has a debt-to-equity ratio of 23.22, a quick ratio of 1.77 and a current ratio of 2.88. The business has a 50 day simple moving average of $11.63 and a 200 day simple moving average of $11.28. Alphatec has a one year low of $4.88 and a one year high of $15.46.

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

Insider Buying and Selling at Alphatec

In other news, Director Karen K. Mcginnis sold 3,963 shares of the business's stock in a transaction dated Wednesday, June 11th. The shares were sold at an average price of $12.11, for a total value of $47,991.93. Following the sale, the director directly owned 68,709 shares in the company, valued at $832,065.99. The trade was a 5.45% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, COO Scott Lish sold 16,666 shares of the business's stock in a transaction dated Tuesday, August 5th. The stock was sold at an average price of $15.00, for a total transaction of $249,990.00. Following the completion of the sale, the chief operating officer owned 674,332 shares in the company, valued at approximately $10,114,980. This trade represents a 2.41% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 449,997 shares of company stock valued at $5,846,616. Corporate insiders own 20.90% of the company's stock.

Institutional Trading of Alphatec

A number of large investors have recently made changes to their positions in the business. Comerica Bank boosted 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 purchasing an additional 1,248 shares during the period. Quarry LP lifted its position in shares of Alphatec by 79.2% in the 4th quarter. Quarry LP now owns 5,374 shares of the medical technology company's stock worth $49,000 after purchasing an additional 2,375 shares during the period. Larson Financial Group LLC purchased a new stake in shares of Alphatec in the 1st quarter worth approximately $54,000. Nisa Investment Advisors LLC raised its stake in shares of Alphatec by 22.4% during the 2nd quarter. Nisa Investment Advisors LLC now owns 5,714 shares of the medical technology company's stock worth $63,000 after acquiring an additional 1,045 shares in the last quarter. Finally, Lazard Asset Management LLC bought a new position in shares of Alphatec during the 4th quarter worth approximately $76,000. 66.35% of the stock is currently owned by institutional investors.

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.