Alphatec (NASDAQ:ATEC) Price Target Lowered to $17.00 at Piper Sandler

Alphatec (NASDAQ:ATEC - Free Report) had its target price decreased by Piper Sandler from $19.00 to $17.00 in a research note released on Wednesday morning, Benzinga reports. Piper Sandler currently has an overweight rating on the medical technology company's stock.

A number of other brokerages also recently weighed in on ATEC. Wells Fargo & Company began coverage on shares of Alphatec in a report on Friday, February 9th. They issued an overweight rating and a $26.00 price target on the stock. HC Wainwright reissued a buy rating and issued a $20.00 price target on shares of Alphatec in a report on Monday, March 4th. Needham & Company LLC reissued a buy rating and issued a $23.00 target price on shares of Alphatec in a research note on Wednesday. Finally, Canaccord Genuity Group reiterated a buy rating and issued a $25.00 price objective on shares of Alphatec in a report on Wednesday, March 20th. One investment analyst has rated the stock with a sell rating and eight have assigned a buy rating to the company's stock. Based on data from MarketBeat, the company presently has a consensus rating of Moderate Buy and an average price target of $22.89.

Alphatec Trading Down 21.9 %

ATEC stock traded down $2.98 during trading on Wednesday, hitting $10.60. The company had a trading volume of 9,058,089 shares, compared to its average volume of 1,670,841. Alphatec has a one year low of $8.66 and a one year high of $19.14. The company has a current ratio of 2.86, a quick ratio of 1.99 and a debt-to-equity ratio of 6.54. The business has a 50-day moving average of $13.32 and a 200-day moving average of $13.56. The stock has a market cap of $1.48 billion, a PE ratio of -6.84 and a beta of 1.48.

Alphatec (NASDAQ:ATEC - Get Free Report) last posted its quarterly earnings results on Tuesday, May 7th. The medical technology company reported ($0.34) earnings per share for the quarter, missing the consensus estimate of ($0.33) by ($0.01). The business had revenue of $138.48 million for the quarter, compared to analysts' expectations of $134.07 million. During the same period in the prior year, the business posted ($0.40) earnings per share. The company's quarterly revenue was up 26.9% on a year-over-year basis. Research analysts predict that Alphatec will post -1.1 earnings per share for the current fiscal year.

Insider Buying and Selling at Alphatec

In other Alphatec news, General Counsel Tyson Eliot Marshall sold 11,825 shares of the firm's stock in a transaction that occurred on Friday, March 1st. The stock was sold at an average price of $13.30, for a total transaction of $157,272.50. Following the completion of the transaction, the general counsel now owns 305,095 shares in the company, valued at approximately $4,057,763.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other news, EVP David Sponsel sold 2,500 shares of the stock in a transaction that occurred on Wednesday, February 14th. The stock was sold at an average price of $16.16, for a total value of $40,400.00. Following the sale, the executive vice president now directly owns 637,418 shares in the company, valued at $10,300,674.88. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, General Counsel Tyson Eliot Marshall sold 11,825 shares of the business's stock in a transaction on Friday, March 1st. The shares were sold at an average price of $13.30, for a total value of $157,272.50. Following the transaction, the general counsel now owns 305,095 shares of the company's stock, valued at approximately $4,057,763.50. The disclosure for this sale can be found here. Over the last quarter, insiders sold 285,069 shares of company stock valued at $3,971,495. Company insiders own 29.12% of the company's stock.

Hedge Funds Weigh In On Alphatec

Institutional investors have recently modified their holdings of the stock. First Light Asset Management LLC raised its stake in Alphatec by 97.0% in the fourth quarter. First Light Asset Management LLC now owns 5,976,851 shares of the medical technology company's stock worth $90,310,000 after buying an additional 2,943,310 shares in the last quarter. Cerity Partners LLC bought a new position in shares of Alphatec during the 4th quarter worth approximately $28,451,000. Artisan Partners Limited Partnership purchased a new stake in Alphatec during the fourth quarter valued at approximately $19,050,000. abrdn plc boosted its stake in Alphatec by 276.7% in the third quarter. abrdn plc now owns 1,382,770 shares of the medical technology company's stock valued at $17,935,000 after acquiring an additional 1,015,668 shares in the last quarter. Finally, Fred Alger Management LLC increased its position in shares of Alphatec by 48.9% during the third quarter. Fred Alger Management LLC now owns 2,336,718 shares of the medical technology company's stock worth $30,307,000 after purchasing an additional 767,280 shares in the last quarter. 66.35% of the stock is owned by hedge funds and other institutional investors.

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.