Alphatec (NASDAQ:ATEC) Given New $17.00 Price Target at Piper Sandler

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

Several other research analysts have also recently issued reports on the company. Needham & Company LLC reissued a buy rating and issued a $23.00 price objective on shares of Alphatec in a research note on Wednesday. HC Wainwright restated a buy rating and set a $20.00 price target on shares of Alphatec in a research note on Monday, March 4th. Wells Fargo & Company started coverage on shares of Alphatec in a report on Friday, February 9th. They set an overweight rating and a $26.00 target price on the stock. Finally, Canaccord Genuity Group restated a buy rating and issued a $25.00 price target on shares of Alphatec in a report on Wednesday, March 20th. One analyst has rated the stock with a sell rating and eight have given a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of Moderate Buy and an average price target of $22.89.

Alphatec Stock Performance

ATEC stock opened at $10.60 on Wednesday. Alphatec has a twelve month low of $8.66 and a twelve month high of $19.14. The firm has a market cap of $1.48 billion, a price-to-earnings ratio of -6.84 and a beta of 1.48. The business’s fifty day simple moving average is $13.25 and its two-hundred day simple moving average is $13.54. The company has a quick ratio of 1.99, a current ratio of 2.86 and a debt-to-equity ratio of 6.54.

Alphatec (NASDAQ:ATEC) last posted its quarterly earnings results on Tuesday, May 7th. The medical technology company reported ($0.34) EPS for the quarter, missing the consensus estimate of ($0.33) by ($0.01). The company had revenue of $138.48 million for the quarter, compared to the consensus estimate of $134.07 million. Alphatec’s revenue for the quarter was up 26.9% compared to the same quarter last year. During the same quarter in the previous year, the company earned ($0.40) earnings per share. Analysts predict that Alphatec will post -1.1 earnings per share for the current year.

Insider Buying and Selling

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 shares were sold at an average price of $13.30, for a total value of $157,272.50. Following the completion of the sale, the general counsel now directly owns 305,095 shares in the company, valued at $4,057,763.50. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other Alphatec news, General Counsel Tyson Eliot Marshall sold 11,825 shares of the stock in a transaction dated Friday, March 1st. The stock was sold at an average price of $13.30, for a total value of $157,272.50. Following the completion of the sale, the general counsel now directly owns 305,095 shares in the company, valued at $4,057,763.50. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, EVP David Sponsel sold 2,500 shares of the business’s stock in a transaction dated 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 owns 637,418 shares in the company, valued at approximately $10,300,674.88. The disclosure for this sale can be found here. Insiders sold a total of 285,069 shares of company stock worth $3,971,495 in the last 90 days. 29.12% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Alphatec

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Amalgamated Bank raised its stake in Alphatec by 7.3% in the 4th quarter. Amalgamated Bank now owns 9,720 shares of the medical technology company’s stock worth $147,000 after acquiring an additional 660 shares during the last quarter. Valeo Financial Advisors LLC boosted its position in Alphatec by 5.0% in the fourth quarter. Valeo Financial Advisors LLC now owns 19,025 shares of the medical technology company’s stock valued at $287,000 after buying an additional 900 shares during the last quarter. RiverPark Advisors LLC increased its holdings in Alphatec by 22.6% in the 4th quarter. RiverPark Advisors LLC now owns 5,033 shares of the medical technology company’s stock worth $76,000 after buying an additional 928 shares during the period. Handelsbanken Fonder AB raised its position in Alphatec by 5.0% during the 4th quarter. Handelsbanken Fonder AB now owns 20,900 shares of the medical technology company’s stock worth $316,000 after buying an additional 1,000 shares during the last quarter. Finally, State Board of Administration of Florida Retirement System lifted its stake in Alphatec by 4.7% during the 3rd quarter. State Board of Administration of Florida Retirement System now owns 22,904 shares of the medical technology company’s stock valued at $297,000 after acquiring an additional 1,030 shares during the period. 66.35% of the stock is currently owned by institutional investors and hedge funds.

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.