Stifel Nicolaus Lowers Alphatec (NASDAQ:ATEC) Price Target to $19.00

Alphatec (NASDAQ:ATEC) had its target price reduced by investment analysts at Stifel Nicolaus from $24.00 to $19.00 in a note issued to investors on Thursday, Benzinga reports. The firm presently has a “buy” rating on the medical technology company’s stock. Stifel Nicolaus’ target price would suggest a potential upside of 73.04% from the stock’s current price.

A number of other equities research analysts also recently weighed in on ATEC. Piper Sandler reduced their price target on shares of Alphatec from $19.00 to $17.00 and set an “overweight” rating on the stock in a research note on Wednesday, May 8th. Barclays started coverage on shares of Alphatec in a report on Monday. They set an “overweight” rating and a $19.00 price target for the company. Canaccord Genuity Group reissued a “buy” rating and issued a $25.00 price objective on shares of Alphatec in a research note on Wednesday, March 20th. Finally, Needham & Company LLC reissued a “buy” rating and set a $23.00 target price on shares of Alphatec in a research note on Wednesday, May 8th. One analyst has rated the stock with a sell rating and nine have given a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $20.89.

Alphatec Stock Performance

Shares of ATEC stock traded up $0.21 on Thursday, hitting $10.98. The company’s stock had a trading volume of 144,539 shares, compared to its average volume of 1,599,219. Alphatec has a fifty-two week low of $8.66 and a fifty-two week high of $19.14. The company has a market capitalization of $1.54 billion, a PE ratio of -7.37 and a beta of 1.40. The stock’s 50 day moving average is $10.68 and its 200-day moving average is $13.12. 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 (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). Alphatec had a negative net margin of 37.45% and a negative return on equity of 1,767.81%. The company had revenue of $138.48 million during the quarter, compared to analyst estimates of $134.07 million. During the same period in the prior year, the firm earned ($0.40) earnings per share. Alphatec’s revenue was up 26.9% on a year-over-year basis. Equities research analysts expect that Alphatec will post -1.04 earnings per share for the current fiscal year.

Insider Activity at Alphatec

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

Institutional Investors Weigh In On Alphatec

Hedge funds and other institutional investors have recently bought and sold shares of the business. RiverPark Advisors LLC grew its position in shares of Alphatec by 22.6% during the 4th quarter. RiverPark Advisors LLC now owns 5,033 shares of the medical technology company’s stock valued at $76,000 after purchasing an additional 928 shares in the last quarter. Comerica Bank grew its position in Alphatec by 64.8% during the first quarter. Comerica Bank now owns 6,443 shares of the medical technology company’s stock worth $89,000 after buying an additional 2,534 shares in the last quarter. Tidemark LLC bought a new position in Alphatec in the 4th quarter worth about $137,000. EntryPoint Capital LLC purchased a new stake in shares of Alphatec in the 1st quarter valued at about $141,000. Finally, Amalgamated Bank boosted its position in shares of Alphatec by 7.3% during the 4th quarter. Amalgamated Bank now owns 9,720 shares of the medical technology company’s stock valued at $147,000 after acquiring an additional 660 shares during the last quarter. Institutional investors 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.