Alphatec (NASDAQ:ATEC) PT Raised to $15.00

Alphatec (NASDAQ:ATEC) had its target price boosted by analysts at Lake Street Capital from $10.00 to $15.00 in a note issued to investors on Tuesday, The Fly reports. The brokerage currently has a “buy” rating on the medical technology company’s stock. Lake Street Capital’s target price would suggest a potential upside of 98.68% from the stock’s current price.

Several other research analysts have also recently weighed in on ATEC. BidaskClub cut shares of Alphatec from a “hold” rating to a “sell” rating in a report on Tuesday. Zacks Investment Research cut shares of Alphatec from a “buy” rating to a “hold” rating in a report on Tuesday, November 5th. Piper Jaffray Companies upped their price target on shares of Alphatec from $7.00 to $9.00 and gave the stock an “overweight” rating in a report on Thursday, October 31st. ValuEngine cut shares of Alphatec from a “buy” rating to a “hold” rating in a report on Tuesday, December 3rd. Finally, HC Wainwright reaffirmed a “buy” rating on shares of Alphatec in a report on Tuesday. One research analyst has rated the stock with a sell rating, two have issued a hold rating and four have assigned a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus price target of $8.90.

ATEC stock traded up $0.26 during midday trading on Tuesday, reaching $7.55. 717,278 shares of the company’s stock traded hands, compared to its average volume of 308,919. The company has a 50-day moving average price of $6.93 and a two-hundred day moving average price of $5.87. The company has a debt-to-equity ratio of 0.91, a quick ratio of 2.67 and a current ratio of 3.72. Alphatec has a 52 week low of $1.18 and a 52 week high of $7.93. The firm has a market capitalization of $455.91 million, a PE ratio of -13.02 and a beta of 1.56.

Alphatec (NASDAQ:ATEC) last issued its earnings results on Wednesday, October 30th. The medical technology company reported ($0.26) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.23) by ($0.03). The business had revenue of $29.20 million for the quarter, compared to the consensus estimate of $26.85 million. Alphatec had a negative net margin of 47.55% and a negative return on equity of 151.54%. As a group, analysts predict that Alphatec will post -0.92 EPS for the current fiscal year.

In related news, EVP Craig E. Hunsaker sold 32,000 shares of the company’s stock in a transaction on Thursday, October 31st. The shares were sold at an average price of $6.75, for a total value of $216,000.00. Following the completion of the transaction, the executive vice president now directly owns 844,768 shares in the company, valued at $5,702,184. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Craig E. Hunsaker sold 12,000 shares of the company’s stock in a transaction on Monday, November 4th. The stock was sold at an average price of $7.00, for a total transaction of $84,000.00. Following the completion of the transaction, the executive vice president now owns 844,768 shares of the company’s stock, valued at $5,913,376. The disclosure for this sale can be found here. Insiders sold 96,000 shares of company stock valued at $673,200 over the last quarter. 34.32% of the stock is owned by company insiders.

A number of large investors have recently made changes to their positions in ATEC. BlackRock Inc. grew its position in Alphatec by 700.0% in the second quarter. BlackRock Inc. now owns 1,565,612 shares of the medical technology company’s stock worth $7,107,000 after acquiring an additional 1,369,901 shares in the last quarter. Millennium Management LLC boosted its position in Alphatec by 22,827.0% during the third quarter. Millennium Management LLC now owns 681,162 shares of the medical technology company’s stock valued at $3,419,000 after buying an additional 678,191 shares during the period. State Street Corp boosted its position in Alphatec by 57.1% during the third quarter. State Street Corp now owns 628,101 shares of the medical technology company’s stock valued at $3,153,000 after buying an additional 228,289 shares during the period. River & Mercantile Asset Management LLP purchased a new stake in Alphatec during the second quarter valued at about $1,015,000. Finally, Jackson Financial Management purchased a new stake in Alphatec during the third quarter valued at about $1,113,000. Institutional investors own 38.05% of the company’s stock.

About Alphatec

Alphatec Holdings, Inc, a medical technology company, focuses on the design, development, and promotion of products for the surgical treatment of spine disorders. Its product portfolio and pipeline address the cervical, thoracolumbar, and intervertebral regions of the spine; and cover various spinal disorders and surgical procedures.

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