Alphatec (NASDAQ:ATEC) Given New $20.00 Price Target at HC Wainwright

Alphatec (NASDAQ:ATEC) had its price objective lowered by equities researchers at HC Wainwright from $24.00 to $20.00 in a note issued to investors on Friday, Benzinga reports. The brokerage presently has a “buy” rating on the medical technology company’s stock. HC Wainwright‘s target price would suggest a potential upside of 183.29% from the company’s previous close.

A number of other equities research analysts have also recently weighed in on the company. JPMorgan Chase & Co. decreased their price objective on Alphatec from $16.00 to $15.00 and set an “overweight” rating for the company in a research note on Friday, October 30th. UBS Group lowered Alphatec from a “buy” rating to a “neutral” rating and cut their target price for the company from $15.00 to $8.50 in a research note on Wednesday, November 4th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Alphatec in a report on Friday, October 30th. Wall Street Zen cut shares of Alphatec from a “buy” rating to a “hold” rating in a report on Sunday, October 11th. Finally, TD Cowen cut their price objective on shares of Alphatec from $13.00 to $10.00 and set a “buy” rating on the stock in a research report on Friday, October 30th. Eleven analysts have rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $15.37.

Alphatec Stock Performance

NASDAQ ATEC opened at $7.06 on Friday. The company has a market cap of $1.10 billion, a PE ratio of -12.84 and a beta of 0.88. The firm’s 50 day moving average price is $9.80 and its 200-day moving average price is $10.21. Alphatec has a 52-week low of $6.81 and a 52-week high of $23.29.

Alphatec (NASDAQ:ATEC) last posted its earnings results on Thursday, October 29th. The medical technology company reported $0.09 earnings per share for the quarter, missing analysts’ consensus estimates of $0.10 by ($0.01). The company had revenue of $221.17 million for the quarter, compared to analysts’ expectations of $225.16 million. Alphatec had a negative return on equity of 6,752.24% and a negative net margin of 10.35%. The firm’s quarterly revenue was up 12.6% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.03 EPS. On average, analysts forecast that Alphatec will post -0.40 earnings per share for the current fiscal year.

Insider Activity

In related news, Director David M. Demski acquired 60,000 shares of the business’s stock in a transaction dated Friday, October 30th. The shares were purchased at an average price of $6.81 per share, for a total transaction of $408,600.00. Following the completion of the acquisition, the director directly owned 491,635 shares in the company, valued at $3,348,034.35. The trade was a 13.90% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Patrick Miles bought 115,000 shares of the company’s stock in a transaction on Thursday, September 10th. The shares were bought at an average cost of $8.81 per share, for a total transaction of $1,013,150.00. Following the transaction, the chief executive officer owned 5,893,551 shares in the company, valued at $51,922,184.31. The trade was a 1.99% increase in their position. The SEC filing for this purchase provides additional information. 13.48% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the stock. First Trust Advisors LP grew its stake in Alphatec by 22.3% during the 3rd quarter. First Trust Advisors LP now owns 239,325 shares of the medical technology company’s stock valued at $2,470,000 after purchasing an additional 43,633 shares during the last quarter. Private Advisor Group LLC acquired a new position in Alphatec in the 3rd quarter worth approximately $115,000. Ieq Capital LLC raised its position in Alphatec by 47.6% during the 3rd quarter. Ieq Capital LLC now owns 154,251 shares of the medical technology company’s stock worth $1,592,000 after buying an additional 49,723 shares during the last quarter. Focus Advisor Solutions LLC acquired a new stake in Alphatec during the 3rd quarter valued at approximately $152,000. Finally, Western Wealth Management LLC increased its stake in shares of Alphatec by 4.9% in the third quarter. Western Wealth Management LLC now owns 114,144 shares of the medical technology company’s stock worth $1,178,000 after acquiring an additional 5,330 shares during the period. Hedge funds and other institutional investors own 66.35% of the company’s stock.

About Alphatec

Alphatec Holdings, Inc. is a medical technology company focused on developing and marketing products for spine surgery. Its offerings are intended to support the surgical treatment of spinal disorders and include implants, biologics, instruments and access systems, along with technologies designed to assist surgeons during procedures. The company’s product portfolio includes solutions for several surgical approaches and stages of spine care, including systems for planning, accessing and instrumenting the spine.