In a report published on Friday, the rating was changed from'sell' to 'hold'.
ATEC was the subject of other research reports. Needham & Company LLC reiterated a buy' rating on Alphatec shares and set a price target of $18.00 in a research report on Monday, April 17. Morgan Stanley raised their price target on Alphatec shares from $17.00 up to $18.00 in a research report on Wednesday, March 1. The stock was given an 'overweight rating'. In a report published on March 1st, HC Wainwright reissued a buy' rating on Alphatec shares and set a target price of $20.00. Five analysts gave the stock a buy recommendation, while two research analysts rated it as a hold. The price of the stock rose $0.04 to $15.36 at midday on Friday. 711,055 company shares were traded, compared with its average volume, which is 1,017 819. The 50-day moving average of the company is $15.32, and its 200 day moving average is $14.60. The stock's market capitalization is $1.82 billion. It has a P/E of -10.67, and a beta value of 1.25. Alphatec's low for the past twelve months is $5.73, and its high for that same period is $17.13.
The last time ) released its quarterly earnings was on February 28th. The medical technology company posted ($0.33) in earnings per share during the third quarter. This was below the consensus estimate ($0.30) of ($0.30). Alphatec reported a negative return of equity of 575.45%, and a net margin of negative 39.28%. The company had revenue of $100.94 million in the third quarter, which was lower than analyst expectations of $105.70 millions. Analysts at equities firms expect Alphatec to post a -1.23 earnings per share for the current fiscal year.
Alphatec Insiders Buying and selling
Alphatec sold 60,000 Alphatec shares in a deal that took place on March 8th. The shares were purchased at an average of $16,013.00 for a total of $960 780,000.00. After the sale, the chief executives now owns directly 5,748,117 of the company's shares, valued at $92,044,597.521. On Wednesday, 8th March, 60,000 shares were sold in the company's stock. The shares were purchased at an average of $16,013.00 for a total of $960 780,000.00. After the sale, the chief executives now owns directly 5,748,117 of the company stock valued at $92,044,597.521. In a separate transaction, on May 10th, Director L-5 Healthcare Partners Llc also sold 1,700,000.00 shares of the company's stock. Stock was sold for $25,296,000.00 at a price of $14.88 on average. After the sale, the director owns directly 11,081,538 company shares, worth $164,893,285.44. Insiders sold 1,970 225 shares of the company's stock worth $989,390 657 over the past 90 days. Insiders own 33.93% the company's stock.
Alphatec: Institutional investors weigh in
Recently, institutional investors increased or decreased their stakes. Millennium Management LLC increased its stake in Alphatec shares by 103.9% during the 4th quarter. Millennium Management LLC owns now 2,767.887 shares worth $34,183,000 of the stock of the medical tech company after buying an additional 1,410.693 shares. Lisanti Capital Growth LLC purchased a new position of Alphatec shares in the first quarter, worth about $15,068,000. Intrinsic Edge Capital Management LLC purchased a new Alphatec position worth $10,296,000 in the first quarter. Assenagon Asset Management S.A. increased its holdings in Alphatec shares by 287.7% during the first quarter. Assenagon Asset Management S.A. owns 819.973 shares in the medical technology company, valued at $12,792,000, after buying an additional 608,495 during the period. JPMorgan Chase & Co. increased its holdings in Alphatec shares by 30.5% during the fourth quarter. JPMorgan Chase & Co. owns 2,071,701 of the stock of the medical tech company, valued at $25,586,000. This is after buying an additional 483,935 during the period. Institutional investors own 48.59% the stock.
Alphatec Holdings, Inc is engaged in the development, design, and marketing spinal fusion technologies products and solutions to treat spinal disorders. It provides intra-operative monitoring and information technologies, access system, interbody implant, fixation systems and various biologics.
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