Alphatec (NASDAQ:ATEC) PT Lowered to $16.00

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

Other equities analysts also recently issued research reports about the stock. Piper Sandler cut their price objective on shares of Alphatec from $19.00 to $17.00 and set an overweight rating on the stock in a report on Wednesday, May 8th. Needham & Company LLC reiterated a buy rating and set a $23.00 price objective on shares of Alphatec in a research note on Thursday. Morgan Stanley reduced their target price on Alphatec from $19.00 to $16.00 and set an overweight rating for the company in a research note on Monday, July 15th. HC Wainwright reissued a buy rating and issued a $20.00 price objective on shares of Alphatec in a report on Thursday. Finally, Canaccord Genuity Group reaffirmed a buy rating and set a $25.00 target price on shares of Alphatec in a report on Thursday, July 25th. One research analyst has rated the stock with a sell rating, one has given a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of Moderate Buy and a consensus price target of $19.11.

Alphatec Stock Down 7.1 %

Shares of Alphatec stock traded down $0.45 during trading on Thursday, hitting $5.85. 618,682 shares of the stock traded hands, compared to its average volume of 1,719,235. Alphatec has a 52-week low of $5.74 and a 52-week high of $17.34. The stock’s fifty day simple moving average is $10.30 and its 200 day simple moving average is $12.58. The firm has a market cap of $821.69 million, a P/E 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 (NASDAQ:ATEC) last posted its quarterly earnings results on Wednesday, July 31st. The medical technology company reported ($0.29) EPS for the quarter, missing the consensus estimate of ($0.26) by ($0.03). The business had revenue of $145.57 million during the quarter, compared to the consensus estimate of $144.55 million. Alphatec had a negative net margin of 33.48% and a negative return on equity of 816.57%. The company’s revenue for the quarter was up 24.5% compared to the same quarter last year. During the same quarter in the prior year, the firm posted ($0.43) EPS. On average, equities analysts predict that Alphatec will post -1.04 earnings per share for the current fiscal year.

Insider Transactions at Alphatec

In related news, General Counsel Tyson Eliot Marshall sold 50,232 shares of the business’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 completion of the sale, the general counsel now owns 245,638 shares of the company’s stock, valued at approximately $2,672,541.44. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Corporate insiders own 22.80% of the company’s stock.

Hedge Funds Weigh In On Alphatec

Hedge funds have recently made changes to their positions in the company. First Light Asset Management LLC increased its position in shares of Alphatec by 97.0% during the fourth 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. Vanguard Group Inc. grew its holdings in shares of Alphatec by 1.2% during the first quarter. Vanguard Group Inc. now owns 5,458,847 shares of the medical technology company’s stock worth $75,278,000 after buying an additional 64,648 shares in the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. raised its position 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 buying an additional 505,202 shares during the last quarter. Cerity Partners LLC purchased a new position in shares of Alphatec in the fourth quarter worth about $28,451,000. Finally, Intrinsic Edge Capital Management LLC boosted its position in Alphatec by 72.2% during the fourth quarter. Intrinsic Edge Capital Management LLC now owns 1,599,849 shares of the medical technology company’s stock worth $24,174,000 after acquiring an additional 670,788 shares during the last quarter. Institutional investors and hedge funds 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.