Alphatec (NASDAQ:ATEC) Stock Rating Upgraded by BidaskClub

BidaskClub upgraded shares of Alphatec (NASDAQ:ATEC) from a hold rating to a buy rating in a research report report published on Tuesday morning, BidAskClub reports.

Other research analysts have also recently issued research reports about the stock. HC Wainwright upped their target price on shares of Alphatec from $4.00 to $6.00 and gave the company a buy rating in a report on Tuesday, August 6th. Piper Jaffray Companies initiated coverage on shares of Alphatec in a research report on Monday, August 5th. They issued an overweight rating and a $7.00 price target for the company. ValuEngine upgraded shares of Alphatec from a buy rating to a strong-buy rating in a research report on Thursday, August 8th. Finally, Zacks Investment Research upgraded shares of Alphatec from a sell rating to a hold rating in a research report on Monday, May 13th. One research analyst has rated the stock with a hold rating, three have issued a buy rating and one has issued a strong buy rating to the company’s stock. The company has an average rating of Buy and an average target price of $6.50.

Shares of Alphatec stock opened at $6.01 on Tuesday. The company has a fifty day simple moving average of $4.91 and a 200-day simple moving average of $3.48. Alphatec has a 12-month low of $1.18 and a 12-month high of $6.35. The company has a current ratio of 2.45, a quick ratio of 1.40 and a debt-to-equity ratio of 3.59. The stock has a market cap of $369.17 million, a price-to-earnings ratio of -10.36 and a beta of 1.47.

Alphatec (NASDAQ:ATEC) last issued its earnings results on Wednesday, July 24th. The medical technology company reported ($0.21) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.16) by ($0.05). Alphatec had a negative net margin of 45.29% and a negative return on equity of 211.15%. The company had revenue of $27.32 million during the quarter, compared to analyst estimates of $25.37 million. On average, analysts forecast that Alphatec will post -0.91 earnings per share for the current fiscal year.

In related news, CFO Jeffrey G. Black sold 8,929 shares of the company’s stock in a transaction on Friday, August 2nd. The shares were sold at an average price of $4.75, for a total value of $42,412.75. Following the completion of the sale, the chief financial officer now owns 511,862 shares in the company, valued at approximately $2,431,344.50. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, EVP Craig E. Hunsaker sold 50,000 shares of the company’s stock in a transaction on Thursday, July 25th. The shares were sold at an average price of $5.00, for a total transaction of $250,000.00. Following the completion of the sale, the executive vice president now owns 811,112 shares of the company’s stock, valued at approximately $4,055,560. The disclosure for this sale can be found here. In the last quarter, insiders sold 208,929 shares of company stock valued at $1,167,913. 34.32% of the stock is owned by insiders.

A number of hedge funds have recently added to or reduced their stakes in ATEC. BlackRock Inc. raised its position in Alphatec by 700.0% in the 2nd quarter. BlackRock Inc. now owns 1,565,612 shares of the medical technology company’s stock valued at $7,107,000 after purchasing an additional 1,369,901 shares during the last quarter. Penn Capital Management Co. Inc. purchased a new stake in Alphatec in the 1st quarter valued at $1,261,000. Royce & Associates LP raised its position in Alphatec by 728.6% in the 1st quarter. Royce & Associates LP now owns 290,000 shares of the medical technology company’s stock valued at $768,000 after purchasing an additional 255,000 shares during the last quarter. Essex Investment Management Co. LLC purchased a new stake in Alphatec in the 2nd quarter valued at $1,015,000. Finally, Vanguard Group Inc. raised its position in Alphatec by 15.2% in the 2nd quarter. Vanguard Group Inc. now owns 883,159 shares of the medical technology company’s stock valued at $4,009,000 after purchasing an additional 116,206 shares during the last quarter. Hedge funds and other institutional investors own 11.55% 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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