Alphatec (NASDAQ:ATEC) PT Lowered to $12.00 at Piper Sandler

Alphatec (NASDAQ:ATEC) had its price target reduced by Piper Sandler from $17.00 to $12.00 in a report issued on Thursday morning, Benzinga reports. Piper Sandler currently has an overweight rating on the medical technology company’s stock.

A number of other equities analysts have also recently issued reports on ATEC. Canaccord Genuity Group restated a buy rating and issued a $25.00 price objective on shares of Alphatec in a research note on Thursday, July 25th. Barclays assumed coverage on Alphatec in a research note on Monday, July 8th. They issued an overweight rating and a $19.00 price objective on the stock. Needham & Company LLC reaffirmed a buy rating and issued a $23.00 price target on shares of Alphatec in a research note on Thursday. HC Wainwright reissued a buy rating and set a $20.00 price objective on shares of Alphatec in a report on Thursday. Finally, Wells Fargo & Company lowered their target price on shares of Alphatec from $26.00 to $19.00 and set an overweight rating on the stock in a report on Thursday. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of Moderate Buy and an average target price of $19.11.

Alphatec Stock Performance

ATEC traded down $0.45 during trading on Thursday, hitting $5.85. The stock had a trading volume of 618,682 shares, compared to its average volume of 1,719,235. The firm has a market cap of $821.69 million, a PE ratio of -4.23 and a beta of 1.40. The company has a current ratio of 2.22, a quick ratio of 1.49 and a debt-to-equity ratio of 30.21. Alphatec has a 12 month low of $5.74 and a 12 month high of $17.34. The company has a 50 day simple moving average of $10.30 and a 200-day simple moving average of $12.58.

Alphatec (NASDAQ:ATEC) last announced its earnings results on Wednesday, July 31st. The medical technology company reported ($0.29) earnings per share for the quarter, missing the consensus estimate of ($0.26) by ($0.03). Alphatec had a negative net margin of 33.48% and a negative return on equity of 816.57%. The business had revenue of $145.57 million for the quarter, compared to the consensus estimate of $144.55 million. During the same quarter in the previous year, the company earned ($0.43) EPS. Alphatec’s revenue for the quarter was up 24.5% compared to the same quarter last year. Analysts expect that Alphatec will post -1.04 EPS for the current year.

Insider Transactions at Alphatec

In other Alphatec news, General Counsel Tyson Eliot Marshall sold 50,232 shares of the business’s stock in a transaction dated 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 sale, the general counsel now directly owns 245,638 shares of the company’s stock, valued at approximately $2,672,541.44. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 22.80% of the stock is currently owned by corporate insiders.

Institutional Trading of Alphatec

Several institutional investors and hedge funds have recently made changes to their positions in ATEC. Amalgamated Bank grew its stake in shares of Alphatec by 7.3% during the fourth quarter. Amalgamated Bank now owns 9,720 shares of the medical technology company’s stock worth $147,000 after purchasing an additional 660 shares during the period. Valeo Financial Advisors LLC lifted its stake 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 period. Handelsbanken Fonder AB boosted its holdings in Alphatec by 5.0% during the fourth 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. Van ECK Associates Corp grew its position in shares of 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 buying an additional 1,300 shares during the period. Finally, ProShare Advisors LLC raised its position in shares of Alphatec by 8.5% in the 1st quarter. ProShare Advisors LLC now owns 16,572 shares of the medical technology company’s stock valued at $229,000 after acquiring an additional 1,304 shares during the period. Institutional investors 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.