Alphatec (NASDAQ:ATEC) Coverage Initiated by Analysts at Barclays

Barclays assumed coverage on shares of Alphatec (NASDAQ:ATEC) in a research note issued to investors on Monday morning, Marketbeat reports. The brokerage issued an overweight rating and a $19.00 target price on the medical technology company’s stock.

Several other equities research analysts also recently commented on the company. Piper Sandler reduced their price objective on Alphatec from $19.00 to $17.00 and set an overweight rating for the company in a report on Wednesday, May 8th. Canaccord Genuity Group reaffirmed a buy rating and set a $25.00 price target on shares of Alphatec in a report on Wednesday, March 20th. Finally, Needham & Company LLC reissued a buy rating and set a $23.00 price objective on shares of Alphatec in a report on Wednesday, May 8th. One research analyst has rated the stock with a sell rating and nine have issued a buy rating to the company. According to MarketBeat, the stock has an average rating of Moderate Buy and an average price target of $20.89.

Alphatec Stock Performance

Shares of ATEC stock opened at $10.96 on Monday. The company’s 50-day moving average is $10.63 and its 200 day moving average is $13.11. The company has a market capitalization of $1.53 billion, a price-to-earnings ratio of -7.36 and a beta of 1.40. Alphatec has a one year low of $8.66 and a one year high of $19.14. The company has a debt-to-equity ratio of 13.63, a quick ratio of 1.49 and a current ratio of 2.39.

Alphatec (NASDAQ:ATEC) last announced its quarterly earnings data on Tuesday, May 7th. The medical technology company reported ($0.34) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.33) by ($0.01). Alphatec had a negative return on equity of 1,767.81% and a negative net margin of 37.45%. The firm had revenue of $138.48 million during the quarter, compared to analysts’ expectations of $134.07 million. During the same quarter in the previous year, the firm earned ($0.40) earnings per share. Alphatec’s revenue was up 26.9% on a year-over-year basis. Sell-side analysts expect that Alphatec will post -1.04 EPS for the current fiscal year.

Insider Buying and Selling at Alphatec

In related news, CFO John Todd Koning sold 37,500 shares of Alphatec stock in a transaction on Wednesday, April 24th. The stock was sold at an average price of $12.82, for a total transaction of $480,750.00. Following the transaction, the chief financial officer now directly owns 393,356 shares in the company, valued at $5,042,823.92. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other Alphatec news, CFO John Todd Koning sold 37,500 shares of Alphatec stock in a transaction that occurred on Wednesday, April 24th. The shares were sold at an average price of $12.82, for a total transaction of $480,750.00. Following the transaction, the chief financial officer now owns 393,356 shares of the company’s stock, valued at $5,042,823.92. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, General Counsel Tyson Eliot Marshall sold 50,232 shares of the company’s stock in a transaction that occurred on Wednesday, June 12th. The stock was sold at an average price of $10.88, for a total transaction of $546,524.16. Following the completion of the transaction, the general counsel now owns 245,638 shares of the company’s stock, valued at $2,672,541.44. The disclosure for this sale can be found here. 22.80% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Alphatec

A number of hedge funds have recently made changes to their positions in the business. Cerity Partners LLC purchased a new position in Alphatec in the 4th quarter worth approximately $28,451,000. Charles Schwab Investment Management Inc. boosted its position in shares of Alphatec by 20.2% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 746,781 shares of the medical technology company’s stock worth $11,284,000 after acquiring an additional 125,488 shares during the last quarter. Pura Vida Investments LLC bought a new stake in Alphatec in the 4th quarter valued at $4,609,000. First Light Asset Management LLC lifted its stake in Alphatec by 97.0% in the 4th quarter. First Light Asset Management LLC now owns 5,976,851 shares of the medical technology company’s stock worth $90,310,000 after purchasing an additional 2,943,310 shares in the last quarter. Finally, Congress Asset Management Co. MA purchased a new stake in Alphatec in the 1st quarter worth $1,829,000. Institutional investors 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.