Alphatec (NASDAQ:ATEC) Price Target Raised to $23.00 at Barclays

Alphatec (NASDAQ:ATEC) had its target price hoisted by investment analysts at Barclays from $22.00 to $23.00 in a research report issued on Monday,Benzinga reports. The firm currently has an “overweight” rating on the medical technology company’s stock. Barclays‘s price target indicates a potential upside of 21.12% from the company’s current price.

A number of other equities analysts have also recently issued reports on the company. Lake Street Capital set a $25.00 target price on Alphatec and gave the stock a “buy” rating in a report on Friday. HC Wainwright lifted their price objective on shares of Alphatec from $20.00 to $24.00 and gave the company a “buy” rating in a research report on Friday. Needham & Company LLC raised their target price on shares of Alphatec from $16.00 to $22.00 and gave the company a “buy” rating in a research note on Friday. Weiss Ratings reissued a “sell (d-)” rating on shares of Alphatec in a research report on Tuesday, October 14th. Finally, Canaccord Genuity Group lifted their target price on Alphatec from $20.00 to $25.00 and gave the stock a “buy” rating in a research note on Friday. Nine analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, Alphatec presently has a consensus rating of “Moderate Buy” and an average target price of $22.11.

Alphatec Price Performance

Alphatec stock opened at $18.99 on Monday. The business has a 50 day simple moving average of $15.28 and a 200 day simple moving average of $13.29. The company has a debt-to-equity ratio of 23.22, a current ratio of 2.88 and a quick ratio of 1.77. Alphatec has a one year low of $6.97 and a one year high of $20.15. The company has a market capitalization of $2.81 billion, a PE ratio of -16.81 and a beta of 1.05.

Alphatec (NASDAQ:ATEC) last issued its quarterly earnings data on Thursday, October 30th. The medical technology company reported $0.03 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.06) by $0.09. The business had revenue of $196.50 million during the quarter, compared to the consensus estimate of $182.78 million. During the same quarter in the previous year, the firm posted ($0.28) EPS. The company’s revenue for the quarter was up 30.4% compared to the same quarter last year. Alphatec has set its FY 2025 guidance at EPS. On average, sell-side analysts forecast that Alphatec will post -1.08 EPS for the current fiscal year.

Insider Buying and Selling

In other Alphatec news, EVP Craig E. Hunsaker sold 100,000 shares of the business’s stock in a transaction dated Friday, October 31st. The shares were sold at an average price of $19.95, for a total value of $1,995,000.00. Following the completion of the sale, the executive vice president owned 1,289,142 shares of the company’s stock, valued at $25,718,382.90. The trade was a 7.20% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Patrick Miles sold 100,000 shares of the firm’s stock in a transaction that occurred on Wednesday, October 1st. The stock was sold at an average price of $13.96, for a total transaction of $1,396,000.00. Following the transaction, the chief executive officer directly owned 5,464,078 shares in the company, valued at $76,278,528.88. This represents a 1.80% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 883,759 shares of company stock valued at $14,040,498 in the last 90 days. 20.90% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Alphatec

Hedge funds have recently added to or reduced their stakes in the stock. Osterweis Capital Management Inc. acquired a new position in Alphatec in the 2nd quarter valued at $37,000. Larson Financial Group LLC acquired a new position in Alphatec in the first quarter valued at about $54,000. Nisa Investment Advisors LLC lifted its position in Alphatec by 22.4% during the second quarter. Nisa Investment Advisors LLC now owns 5,714 shares of the medical technology company’s stock worth $63,000 after purchasing an additional 1,045 shares during the period. FORA Capital LLC acquired a new stake in Alphatec during the first quarter worth about $102,000. Finally, PKS Advisory Services LLC bought a new position in Alphatec in the 1st quarter valued at about $111,000. 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.