Alphatec (NASDAQ:ATEC) Price Target Lowered to $18.00 at Lake Street Capital

Alphatec (NASDAQ:ATEC) had its price objective decreased by Lake Street Capital from $32.00 to $18.00 in a research note released on Tuesday, Benzinga reports. Lake Street Capital currently has a buy rating on the medical technology company’s stock.

ATEC has been the subject of a number of other reports. Needham & Company LLC reduced their price objective on shares of Alphatec from $23.00 to $13.00 and set a buy rating for the company in a research note on Thursday, August 22nd. HC Wainwright restated a buy rating and set a $20.00 price target on shares of Alphatec in a report on Thursday, August 1st. Piper Sandler lowered their price target on Alphatec from $17.00 to $12.00 and set an overweight rating on the stock in a research report on Thursday, August 1st. Morgan Stanley cut Alphatec from an overweight rating to an equal weight rating in a research report on Thursday, August 1st. Finally, Wells Fargo & Company lowered their target price on Alphatec from $26.00 to $19.00 and set an overweight rating on the stock in a report on Thursday, August 1st. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and nine have given a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of Moderate Buy and an average target price of $17.50.

Alphatec Trading Down 1.5 %

Shares of NASDAQ:ATEC opened at $6.65 on Tuesday. The company has a current ratio of 2.22, a quick ratio of 1.21 and a debt-to-equity ratio of 30.21. The stock has a market capitalization of $930.23 million, a PE ratio of -4.46 and a beta of 1.40. Alphatec has a 1 year low of $5.57 and a 1 year high of $17.34. The firm has a fifty day moving average price of $8.42 and a 200 day moving average price of $10.98.

Alphatec (NASDAQ:ATEC) last released its quarterly earnings results on Wednesday, July 31st. The medical technology company reported ($0.29) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.26) by ($0.03). Alphatec had a negative return on equity of 816.57% and a negative net margin of 33.48%. The company had revenue of $145.57 million for the quarter, compared to the consensus estimate of $144.55 million. During the same quarter last year, the company posted ($0.43) EPS. The business’s revenue was up 24.5% compared to the same quarter last year. Analysts expect that Alphatec will post -1.08 EPS for the current fiscal year.

Insiders Place Their Bets

In other Alphatec news, General Counsel Tyson Eliot Marshall sold 50,232 shares of the stock in a transaction 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 directly owns 245,638 shares in the company, valued at $2,672,541.44. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Alphatec news, Director David M. Demski bought 50,000 shares of Alphatec stock in a transaction dated Wednesday, August 21st. The shares were acquired at an average cost of $5.67 per share, with a total value of $283,500.00. Following the acquisition, the director now directly owns 288,441 shares of the company’s stock, valued at $1,635,460.47. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, General Counsel Tyson Eliot Marshall sold 50,232 shares of the firm’s 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 sale, the general counsel now directly owns 245,638 shares of the company’s stock, valued at $2,672,541.44. The disclosure for this sale can be found here. Corporate insiders own 22.80% of the company’s stock.

Institutional Trading of Alphatec

Several large investors have recently made changes to their positions in ATEC. First Light Asset Management LLC lifted its position in Alphatec by 97.0% during 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 buying an additional 2,943,310 shares in the last quarter. Vanguard Group Inc. raised its stake in shares of Alphatec by 1.2% in the first quarter. Vanguard Group Inc. now owns 5,458,847 shares of the medical technology company’s stock worth $75,278,000 after acquiring an additional 64,648 shares during the last quarter. Point72 Asset Management L.P. lifted its position in shares of Alphatec by 65.2% during the second quarter. Point72 Asset Management L.P. now owns 3,192,789 shares of the medical technology company’s stock worth $33,365,000 after purchasing an additional 1,260,137 shares in the last quarter. Fred Alger Management LLC grew its stake in shares of Alphatec by 0.8% during the second quarter. Fred Alger Management LLC now owns 2,638,303 shares of the medical technology company’s stock valued at $27,570,000 after purchasing an additional 21,078 shares during the last quarter. Finally, BNP PARIBAS ASSET MANAGEMENT Holding S.A. increased its holdings in shares of Alphatec by 23.8% in the second quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 2,630,244 shares of the medical technology company’s stock valued at $27,486,000 after purchasing an additional 505,202 shares in the last quarter. 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.