Alphatec’s (ATEC) Buy Rating Reiterated at HC Wainwright

Alphatec (NASDAQ:ATEC)‘s stock had its “buy” rating restated by research analysts at HC Wainwright in a research report issued to clients and investors on Thursday, Benzinga reports. They presently have a $20.00 target price on the medical technology company’s stock. HC Wainwright’s price objective would suggest a potential upside of 150.00% from the stock’s current price.

Several other equities analysts have also recently weighed in on ATEC. Barclays initiated coverage on shares of Alphatec in a research report on Monday, July 8th. They set an “overweight” rating and a $19.00 price objective on the stock. Needham & Company LLC reiterated a “buy” rating and set a $23.00 price objective on shares of Alphatec in a research report on Thursday. Canaccord Genuity Group reiterated a “buy” rating and set a $25.00 price objective on shares of Alphatec in a research report on Thursday, July 25th. Stifel Nicolaus lowered their price objective on shares of Alphatec from $24.00 to $19.00 and set a “buy” rating on the stock in a research report on Thursday, July 11th. Finally, Morgan Stanley lowered their price objective on shares of Alphatec from $19.00 to $16.00 and set an “overweight” rating on the stock in a research report on Monday, July 15th. One analyst has rated the stock with a sell rating and nine have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Alphatec has an average rating of “Moderate Buy” and an average target price of $20.78.

Alphatec Trading Down 20.8 %

Shares of NASDAQ:ATEC opened at $8.00 on Thursday. The stock has a market capitalization of $1.12 billion, a price-to-earnings ratio of -5.37 and a beta of 1.40. Alphatec has a 1-year low of $8.00 and a 1-year high of $18.32. The company has a debt-to-equity ratio of 13.63, a quick ratio of 1.49 and a current ratio of 2.39. The company has a 50 day moving average price of $10.46 and a 200 day moving average price of $12.73.

Alphatec (NASDAQ:ATEC) last issued its earnings results on Wednesday, July 31st. The medical technology company reported ($0.29) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.26) by ($0.03). The business had revenue of $145.57 million for the quarter, compared to the consensus estimate of $144.55 million. Alphatec had a negative return on equity of 1,767.81% and a negative net margin of 37.45%. The company’s quarterly revenue was up 24.5% on a year-over-year basis. During the same quarter in the previous year, the business posted ($0.43) earnings per share. On average, research analysts anticipate that Alphatec will post -1.04 EPS for the current fiscal year.

Insider Activity at Alphatec

In related news, General Counsel Tyson Eliot Marshall sold 50,232 shares of Alphatec stock in a transaction on Wednesday, June 12th. The shares were sold at an average price of $10.88, for a total value of $546,524.16. Following the completion of the sale, the general counsel now owns 245,638 shares of the company’s stock, valued at approximately $2,672,541.44. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 22.80% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the company. Van ECK Associates Corp lifted its position in Alphatec by 11.8% during the 2nd quarter. Van ECK Associates Corp now owns 12,275 shares of the medical technology company’s stock worth $128,000 after acquiring an additional 1,300 shares during the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. lifted its position in Alphatec by 23.8% during the 2nd quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 2,630,244 shares of the medical technology company’s stock worth $27,486,000 after acquiring an additional 505,202 shares during the last quarter. HighMark Wealth Management LLC lifted its position in Alphatec by 87.1% during the 2nd quarter. HighMark Wealth Management LLC now owns 107,400 shares of the medical technology company’s stock worth $1,122,000 after acquiring an additional 50,000 shares during the last quarter. F M Investments LLC bought a new position in shares of Alphatec during the 2nd quarter worth about $3,284,000. Finally, AM Investment Strategies LLC bought a new position in shares of Alphatec during the 2nd quarter worth about $209,000. 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.