Alphatec (NASDAQ:ATEC) Given Buy Rating at Canaccord Genuity Group

Canaccord Genuity Group reaffirmed their buy rating on shares of Alphatec (NASDAQ:ATEC) in a report issued on Thursday morning, Benzinga reports. They currently have a $25.00 price objective on the medical technology company’s stock.

ATEC has been the subject of a number of other research reports. Barclays started coverage on shares of Alphatec in a research note on Monday, July 8th. They set an overweight rating and a $19.00 target price for the company. Stifel Nicolaus dropped their target price on Alphatec from $24.00 to $19.00 and set a buy rating on the stock in a report on Thursday, July 11th. Needham & Company LLC reissued a buy rating and issued a $23.00 target price on shares of Alphatec in a report on Wednesday, May 8th. Piper Sandler dropped their target price on Alphatec from $19.00 to $17.00 and set an overweight rating on the stock in a report on Wednesday, May 8th. Finally, Morgan Stanley dropped their target price on Alphatec from $19.00 to $16.00 and set an overweight rating on the stock in a report on Monday, July 15th. One equities research analyst has rated the stock with a sell rating and nine have assigned a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of Moderate Buy and a consensus price target of $20.78.

Alphatec Stock Performance

NASDAQ:ATEC opened at $10.87 on Thursday. The company has a fifty day simple moving average of $10.51 and a two-hundred day simple moving average of $12.87. 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 has a 52 week low of $8.66 and a 52 week high of $18.32.

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 business had revenue of $138.48 million during the quarter, compared to analyst estimates of $134.07 million. Alphatec had a negative return on equity of 1,767.81% and a negative net margin of 37.45%. The business’s revenue was up 26.9% on a year-over-year basis. During the same quarter last year, the firm earned ($0.40) EPS. Sell-side analysts predict that Alphatec will post -1.04 earnings per share for the current year.

Insiders Place Their Bets

In other Alphatec news, General Counsel Tyson Eliot Marshall sold 50,232 shares of the firm’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 transaction, the general counsel now owns 245,638 shares of the company’s stock, valued at $2,672,541.44. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Corporate insiders own 22.80% of the company’s stock.

Hedge Funds Weigh In On Alphatec

Several hedge funds have recently made changes to their positions in ATEC. Amalgamated Bank boosted 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 buying an additional 660 shares during the period. Valeo Financial Advisors LLC boosted its stake in shares of Alphatec by 5.0% during the fourth quarter. Valeo Financial Advisors LLC now owns 19,025 shares of the medical technology company’s stock worth $287,000 after buying an additional 900 shares during the period. Handelsbanken Fonder AB boosted its stake in shares of 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 period. ProShare Advisors LLC boosted its stake in shares of Alphatec by 8.5% during the first quarter. ProShare Advisors LLC now owns 16,572 shares of the medical technology company’s stock worth $229,000 after buying an additional 1,304 shares during the period. Finally, Bayesian Capital Management LP boosted its stake in shares of Alphatec by 5.6% during the first quarter. Bayesian Capital Management LP now owns 27,000 shares of the medical technology company’s stock worth $372,000 after buying an additional 1,442 shares during the period. Hedge funds and other 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.