Alphatec (NASDAQ:ATEC) Given New $16.00 Price Target at Stifel Nicolaus

Alphatec (NASDAQ:ATEC) had its target price reduced by Stifel Nicolaus from $19.00 to $16.00 in a report published on Thursday, Benzinga reports. Stifel Nicolaus currently has a buy rating on the medical technology company’s stock.

Several other equities analysts have also recently weighed in on ATEC. Piper Sandler lowered their target price on Alphatec from $19.00 to $17.00 and set an overweight rating on the stock in a research note on Wednesday, May 8th. Morgan Stanley lowered their target price on Alphatec from $19.00 to $16.00 and set an overweight rating on the stock in a research note on Monday, July 15th. Canaccord Genuity Group reissued a buy rating and issued a $25.00 price target on shares of Alphatec in a research note on Thursday, July 25th. Barclays began coverage on Alphatec in a research note on Monday, July 8th. They issued an overweight rating and a $19.00 price target for the company. Finally, HC Wainwright reissued a buy rating and issued a $20.00 price target on shares of Alphatec in a research note on Thursday. One analyst has rated the stock with a sell rating, one has issued a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat.com, Alphatec has a consensus rating of Moderate Buy and a consensus target price of $19.11.

Alphatec Trading Down 2.9 %

ATEC traded down $0.19 during trading on Thursday, reaching $6.45. The company had a trading volume of 381,205 shares, compared to its average volume of 1,691,434. The firm’s 50-day simple moving average is $10.38 and its 200 day simple moving average is $12.67. The company has a market cap of $902.23 million, a price-to-earnings ratio of -4.46 and a beta of 1.40. Alphatec has a 12-month low of $6.25 and a 12-month 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.

Alphatec (NASDAQ:ATEC) last released 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 758.98%. The business had revenue of $145.57 million for the quarter, compared to analysts’ expectations of $144.55 million. During the same period last year, the firm earned ($0.43) EPS. The company’s revenue was up 24.5% compared to the same quarter last year. Equities research analysts anticipate that Alphatec will post -1.04 earnings per share for the current year.

Insider Buying and Selling

In related news, General Counsel Tyson Eliot Marshall sold 50,232 shares of the business’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 value of $546,524.16. Following the completion of the sale, the general counsel now directly owns 245,638 shares in the company, valued at approximately $2,672,541.44. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 22.80% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the business. Rhumbline Advisers lifted its holdings in shares of Alphatec by 2.6% during the second quarter. Rhumbline Advisers now owns 143,474 shares of the medical technology company’s stock worth $1,499,000 after buying an additional 3,676 shares during the last quarter. Versor Investments LP bought a new stake in shares of Alphatec during the second quarter valued at approximately $220,000. Van ECK Associates Corp increased its position in shares of Alphatec by 11.8% during the second quarter. Van ECK Associates Corp now owns 12,275 shares of the medical technology company’s stock valued at $128,000 after purchasing an additional 1,300 shares during the period. BNP PARIBAS ASSET MANAGEMENT Holding S.A. increased its position in shares of Alphatec by 23.8% during 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 during the period. Finally, HighMark Wealth Management LLC increased its position in shares of Alphatec by 87.1% during the second quarter. HighMark Wealth Management LLC now owns 107,400 shares of the medical technology company’s stock valued at $1,122,000 after purchasing an additional 50,000 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.