Alphatec (NASDAQ:ATEC) Price Target Cut to $19.00 by Analysts at Stifel Nicolaus

Alphatec (NASDAQ:ATEC) had its price target reduced by investment analysts at Stifel Nicolaus from $24.00 to $19.00 in a research report issued on Thursday, Benzinga reports. The firm presently has a “buy” rating on the medical technology company’s stock. Stifel Nicolaus’ target price indicates a potential upside of 68.89% from the stock’s current price.

Several other research firms have also commented on ATEC. Canaccord Genuity Group reaffirmed a “buy” rating and set a $25.00 target price on shares of Alphatec in a report on Wednesday, March 20th. Piper Sandler lowered their target price on Alphatec from $19.00 to $17.00 and set an “overweight” rating for the company in a report on Wednesday, May 8th. Needham & Company LLC reaffirmed a “buy” rating and set a $23.00 target price on shares of Alphatec in a report on Wednesday, May 8th. Finally, Barclays initiated coverage on Alphatec in a report on Monday, July 8th. They set an “overweight” rating and a $19.00 target price for the company. One analyst has rated the stock with a sell rating and nine have given a buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $20.89.

Alphatec Stock Up 2.6 %

Shares of Alphatec stock opened at $11.25 on Thursday. The company has a quick ratio of 1.49, a current ratio of 2.39 and a debt-to-equity ratio of 13.63. The firm has a market cap of $1.57 billion, a P/E ratio of -7.55 and a beta of 1.40. Alphatec has a fifty-two week low of $8.66 and a fifty-two week high of $19.14. The business has a 50-day moving average price of $10.58 and a 200 day moving average price of $13.08.

Alphatec (NASDAQ:ATEC) last announced its quarterly earnings data on Tuesday, May 7th. The medical technology company reported ($0.34) earnings per share for the quarter, missing the consensus estimate of ($0.33) by ($0.01). The firm had revenue of $138.48 million during the quarter, compared to the consensus estimate of $134.07 million. Alphatec had a negative net margin of 37.45% and a negative return on equity of 1,767.81%. The firm’s quarterly revenue was up 26.9% compared to the same quarter last year. During the same period in the prior year, the firm earned ($0.40) earnings per share. On average, sell-side analysts forecast that Alphatec will post -1.04 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, CFO John Todd Koning sold 37,500 shares of the stock in a transaction that occurred on Wednesday, April 24th. The stock was sold at an average price of $12.82, for a total value of $480,750.00. Following the completion of the transaction, the chief financial officer now directly owns 393,356 shares of the company’s stock, valued at approximately $5,042,823.92. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other Alphatec news, General Counsel Tyson Eliot Marshall sold 50,232 shares of the company’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 $2,672,541.44. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO John Todd Koning sold 37,500 shares of the company’s stock in a transaction that occurred on Wednesday, April 24th. The stock was sold at an average price of $12.82, for a total value of $480,750.00. Following the completion of the sale, the chief financial officer now owns 393,356 shares of the company’s stock, valued at $5,042,823.92. The disclosure for this sale can be found here. Corporate insiders own 22.80% of the company’s stock.

Institutional Investors Weigh In On Alphatec

Institutional investors and hedge funds have recently modified their holdings of the stock. Cerity Partners LLC acquired a new stake in shares of Alphatec during the 4th quarter valued at $28,451,000. Charles Schwab Investment Management Inc. lifted its position in shares of Alphatec by 20.2% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 746,781 shares of the medical technology company’s stock valued at $11,284,000 after acquiring an additional 125,488 shares during the last quarter. Pura Vida Investments LLC acquired a new stake in shares of Alphatec during the 4th quarter valued at $4,609,000. First Light Asset Management LLC lifted its holdings in shares of Alphatec by 97.0% in the fourth quarter. First Light Asset Management LLC now owns 5,976,851 shares of the medical technology company’s stock valued at $90,310,000 after purchasing an additional 2,943,310 shares in the last quarter. Finally, Congress Asset Management Co. MA purchased a new stake in shares of Alphatec in the first quarter valued at $1,829,000. 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.