Alphatec (NASDAQ:ATEC) Receives New Coverage from Analysts at Piper Jaffray Companies

Piper Jaffray Companies assumed coverage on shares of Alphatec (NASDAQ:ATEC) in a report released on Monday, BenzingaRatingsTable reports. The firm issued an overweight rating and a $7.00 price objective on the medical technology company’s stock.

ATEC has been the subject of a number of other reports. ValuEngine downgraded Alphatec from a buy rating to a hold rating in a report on Thursday, August 1st. Zacks Investment Research upgraded Alphatec from a sell rating to a hold rating in a report on Monday, May 13th.

NASDAQ ATEC opened at $5.34 on Monday. The firm has a market capitalization of $227.50 million, a P/E ratio of -9.21 and a beta of 1.47. Alphatec has a twelve month low of $1.18 and a twelve month high of $5.46. The firm has a fifty day moving average of $4.58. The company has a quick ratio of 1.40, a current ratio of 2.45 and a debt-to-equity ratio of 3.59.

Alphatec (NASDAQ:ATEC) last posted its quarterly earnings data on Wednesday, July 24th. The medical technology company reported ($0.21) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.16) by ($0.05). The company had revenue of $27.32 million during the quarter, compared to analyst estimates of $25.37 million. Alphatec had a negative net margin of 45.29% and a negative return on equity of 211.15%. Sell-side analysts anticipate that Alphatec will post -0.65 earnings per share for the current year.

In other Alphatec 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 transaction of $42,412.75. Following the sale, the chief financial officer now owns 511,862 shares of the company’s stock, valued at $2,431,344.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 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 sale, the executive vice president now directly owns 811,112 shares in the company, valued at approximately $4,055,560. The disclosure for this sale can be found here. Insiders have sold 108,929 shares of company stock worth $517,413 in the last ninety days. Insiders own 34.32% of the company’s stock.

Institutional investors and hedge funds have recently modified their holdings of the business. Penn Capital Management Co. Inc. bought a new position in shares of Alphatec during the 1st quarter worth about $1,261,000. Royce & Associates LP boosted its position in shares of Alphatec by 728.6% during the 1st quarter. Royce & Associates LP now owns 290,000 shares of the medical technology company’s stock worth $768,000 after purchasing an additional 255,000 shares in the last quarter. Raymond James Financial Services Advisors Inc. boosted its position in shares of Alphatec by 49.2% during the 4th quarter. Raymond James Financial Services Advisors Inc. now owns 29,063 shares of the medical technology company’s stock worth $67,000 after purchasing an additional 9,579 shares in the last quarter. Advisor Group Inc. bought a new position in shares of Alphatec during the 2nd quarter worth about $36,000. Finally, Dimensional Fund Advisors LP boosted its position in shares of Alphatec by 8.8% during the 4th quarter. Dimensional Fund Advisors LP now owns 95,662 shares of the medical technology company’s stock worth $219,000 after purchasing an additional 7,705 shares in the last quarter. 14.56% of the stock is currently owned by institutional investors and hedge funds.

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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