Alphatec’s (ATEC) Buy Rating Reiterated at Canaccord Genuity Group

Canaccord Genuity Group reaffirmed their buy rating on shares of Alphatec (NASDAQ:ATEC) in a research report released on Friday, Benzinga reports. The firm currently has a $20.00 target price on the medical technology company’s stock.

Several other equities research analysts also recently weighed in on the company. Piper Sandler lowered their price target on Alphatec from $17.00 to $12.00 and set an overweight rating for the company in a report on Thursday, August 1st. Stifel Nicolaus dropped their target price on shares of Alphatec from $19.00 to $16.00 and set a buy rating on the stock in a research report on Thursday, August 1st. Needham & Company LLC decreased their price target on shares of Alphatec from $23.00 to $13.00 and set a buy rating for the company in a report on Thursday, August 22nd. HC Wainwright reissued a buy rating and set a $20.00 price objective on shares of Alphatec in a report on Thursday, August 1st. Finally, Morgan Stanley cut Alphatec from an overweight rating to an equal weight rating in a research report on Thursday, August 1st. One investment analyst has rated the stock with a sell rating, one has given a hold rating and eight have given a buy rating to the company. According to data from MarketBeat, Alphatec currently has an average rating of Moderate Buy and an average price target of $17.44.

Alphatec Stock Performance

Shares of Alphatec stock opened at $6.90 on Friday. The company has a market capitalization of $965.20 million, a PE ratio of -4.63 and a beta of 1.40. The company has a 50-day simple moving average of $8.69 and a two-hundred day simple moving average of $11.17. Alphatec has a one year low of $5.57 and a one year high of $17.34. The company has a debt-to-equity ratio of 30.21, a quick ratio of 1.21 and a current ratio of 2.22.

Alphatec (NASDAQ:ATEC) last posted its earnings results on Wednesday, July 31st. The medical technology company reported ($0.29) EPS for the quarter, missing analysts’ consensus estimates of ($0.26) by ($0.03). The firm had revenue of $145.57 million for the quarter, compared to analysts’ expectations 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 was up 24.5% on a year-over-year basis. During the same period in the previous year, the company earned ($0.43) EPS. Research analysts expect that Alphatec will post -1.08 EPS for the current fiscal year.

Insider Activity

In related news, Director David M. Demski acquired 50,000 shares of the stock in a transaction on Wednesday, August 21st. The shares were acquired at an average price of $5.67 per share, for a total transaction of $283,500.00. Following the transaction, the director now owns 288,441 shares in the company, valued at approximately $1,635,460.47. The purchase was disclosed in a filing with the SEC, which is available through this link. In other news, Director David M. Demski bought 50,000 shares of the stock in a transaction dated Wednesday, August 21st. The shares were acquired at an average cost of $5.67 per share, with a total value of $283,500.00. Following the purchase, the director now directly owns 288,441 shares in the company, valued at approximately $1,635,460.47. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, 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 value of $546,524.16. Following the completion of the transaction, the general counsel now owns 245,638 shares of the company’s stock, valued at approximately $2,672,541.44. The disclosure for this sale can be found here. Insiders own 22.80% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in ATEC. Comerica Bank lifted its stake in Alphatec by 64.8% in the 1st quarter. Comerica Bank now owns 6,443 shares of the medical technology company’s stock valued at $89,000 after buying an additional 2,534 shares in the last quarter. Tidemark LLC purchased a new stake in shares of Alphatec during the fourth quarter worth approximately $137,000. Amalgamated Bank raised its stake in Alphatec by 7.3% in the 4th quarter. Amalgamated Bank now owns 9,720 shares of the medical technology company’s stock valued at $147,000 after purchasing an additional 660 shares during the last quarter. EntryPoint Capital LLC purchased a new position in Alphatec in the 1st quarter valued at $141,000. Finally, Clear Rock Advisors LLC acquired a new stake in Alphatec during the 4th quarter worth $179,000. 66.35% of the stock is owned by institutional investors and hedge funds.

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.