Alphatec (NASDAQ:ATEC) PT Raised to $15.00

Alphatec (NASDAQ:ATEC) had its price objective increased by equities research analysts at Lake Street Capital from $10.00 to $15.00 in a research report issued on Tuesday, The Fly reports. The brokerage presently has a “buy” rating on the medical technology company’s stock. Lake Street Capital’s target price indicates a potential upside of 98.68% from the stock’s previous close.

Several other brokerages also recently weighed in on ATEC. Zacks Investment Research downgraded shares of Alphatec from a “buy” rating to a “hold” rating in a research report on Tuesday, November 5th. HC Wainwright reissued a “buy” rating on shares of Alphatec in a research report on Tuesday. Piper Jaffray Companies raised their target price 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, BidaskClub cut shares of Alphatec from a “hold” rating to a “sell” rating in a report on Tuesday. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and four have issued a buy rating to the company’s stock. The company has an average rating of “Hold” and an average price target of $8.90.

Shares of ATEC traded up $0.26 on Tuesday, hitting $7.55. 717,278 shares of the stock traded hands, compared to its average volume of 308,919. The company has a market capitalization of $455.91 million, a PE ratio of -13.02 and a beta of 1.56. The company has a debt-to-equity ratio of 0.91, a quick ratio of 2.67 and a current ratio of 3.72. The business has a 50 day simple moving average of $6.93 and a 200 day simple moving average of $5.87. Alphatec has a one year low of $1.18 and a one year high of $7.93.

Alphatec (NASDAQ:ATEC) last announced its quarterly earnings results on Wednesday, October 30th. The medical technology company reported ($0.26) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.23) by ($0.03). The firm 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%. On average, equities analysts expect that Alphatec will post -0.92 earnings per share for the current year.

In other news, EVP Craig E. Hunsaker sold 32,000 shares of Alphatec stock in a transaction on Thursday, October 31st. The shares were sold at an average price of $6.75, for a total transaction of $216,000.00. Following the transaction, the executive vice president now owns 844,768 shares in the company, valued at approximately $5,702,184. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Craig E. Hunsaker sold 12,000 shares of Alphatec 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 transaction, the executive vice president now owns 844,768 shares in the company, valued at approximately $5,913,376. The disclosure for this sale can be found here. Insiders sold 96,000 shares of company stock worth $673,200 in the last 90 days. 34.32% of the stock is currently owned by corporate insiders.

Several institutional investors have recently modified their holdings of the company. Mesirow Financial Investment Management Inc. purchased a new position in shares of Alphatec during the 4th quarter worth $463,000. Metropolitan Life Insurance Co NY purchased a new position in shares of Alphatec during the 3rd quarter valued at $75,000. Millennium Management LLC lifted its stake in shares of Alphatec by 22,827.0% during the 3rd 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 in the last quarter. California State Teachers Retirement System lifted its stake in shares of Alphatec by 29.4% during the 3rd quarter. California State Teachers Retirement System now owns 59,486 shares of the medical technology company’s stock valued at $299,000 after buying an additional 13,531 shares in the last quarter. Finally, State Street Corp lifted its stake in shares of Alphatec by 57.1% during the 3rd 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 in the last quarter. Institutional investors and hedge funds 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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