Alphatec (NASDAQ:ATEC) Rating Reiterated by Canaccord Genuity Group

Canaccord Genuity Group reissued their buy rating on shares of Alphatec (NASDAQ:ATEC) in a research note issued to investors on Thursday, Benzinga reports. Canaccord Genuity Group currently has a $25.00 price target on the medical technology company’s stock.

Other equities research analysts have also issued research reports about the stock. Piper Sandler cut their price target 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. Morgan Stanley cut their price target on shares of Alphatec from $19.00 to $16.00 and set an overweight rating on the stock in a report on Monday, July 15th. Needham & Company LLC reissued a buy rating and issued a $23.00 price target on shares of Alphatec in a report on Wednesday, May 8th. Barclays began coverage on shares of Alphatec in a report on Monday, July 8th. They issued an overweight rating and a $19.00 price target on the stock. Finally, Stifel Nicolaus dropped their target price on shares of Alphatec from $24.00 to $19.00 and set a buy rating for the company in a research report on Thursday, July 11th. One investment analyst has rated the stock with a sell rating and nine have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of Moderate Buy and a consensus price target of $20.78.

Alphatec Price Performance

ATEC stock opened at $10.91 on Thursday. 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. The firm’s fifty day moving average is $10.50 and its 200 day moving average is $12.80. The firm has a market cap of $1.53 billion, a P/E ratio of -7.32 and a beta of 1.40.

Alphatec (NASDAQ:ATEC) last released its 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 for 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%. Alphatec’s revenue for the quarter was up 26.9% on a year-over-year basis. During the same period in the prior year, the business posted ($0.40) EPS. Research analysts predict that Alphatec will post -1.04 earnings per share for the current year.

Insider Activity at Alphatec

In related news, General Counsel Tyson Eliot Marshall sold 50,232 shares of Alphatec stock in a transaction dated Wednesday, June 12th. The shares were 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 of the company’s stock, valued at approximately $2,672,541.44. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. 22.80% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of ATEC. Vanguard Group Inc. lifted its position in Alphatec by 1.8% during the 3rd quarter. Vanguard Group Inc. now owns 4,615,223 shares of the medical technology company’s stock valued at $59,859,000 after acquiring an additional 80,101 shares during the period. SG Americas Securities LLC purchased a new position in Alphatec in the fourth quarter worth about $316,000. Raymond James & Associates raised its holdings in Alphatec by 26.3% in the fourth quarter. Raymond James & Associates now owns 14,287 shares of the medical technology company’s stock worth $216,000 after buying an additional 2,975 shares during the last quarter. Raymond James Financial Services Advisors Inc. purchased a new position in Alphatec in the fourth quarter worth about $202,000. Finally, Perkins Capital Management Inc. raised its holdings in Alphatec by 7.3% in the fourth quarter. Perkins Capital Management Inc. now owns 184,867 shares of the medical technology company’s stock worth $2,793,000 after buying an additional 12,550 shares during the last quarter. 66.35% of the stock is owned by hedge funds and other institutional investors.

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.