Alphatec (NASDAQ:ATEC) Upgraded by Wall Street Zen to “Buy” Rating

Alphatec (NASDAQ:ATEC) was upgraded by Wall Street Zen from a “hold” rating to a “buy” rating in a research note issued to investors on Sunday.

Several other research analysts also recently issued reports on ATEC. Canaccord Genuity Group reaffirmed a “buy” rating and set a $20.00 price target on shares of Alphatec in a research note on Friday, August 1st. Lake Street Capital raised Alphatec to a “buy” rating and set a $18.00 price target for the company in a research note on Monday, June 16th. Finally, Barclays reaffirmed an “overweight” rating and set a $22.00 price target (up previously from $21.00) on shares of Alphatec in a research note on Monday, August 4th. Six equities research analysts have rated the stock with a Buy rating, According to data from MarketBeat, Alphatec currently has an average rating of “Buy” and a consensus price target of $18.50.

Alphatec Price Performance

Alphatec stock opened at $16.40 on Friday. Alphatec has a one year low of $4.88 and a one year high of $16.70. The company has a debt-to-equity ratio of 23.22, a quick ratio of 1.77 and a current ratio of 2.88. The business has a fifty day moving average of $13.38 and a two-hundred day moving average of $11.92. The company has a market cap of $2.43 billion, a P/E ratio of -14.51 and a beta of 1.02.

Alphatec (NASDAQ:ATEC) last released its quarterly earnings results on Thursday, July 31st. The medical technology company reported $0.02 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.06) by $0.08. The business had revenue of $185.54 million during the quarter, compared to the consensus estimate of $178.85 million. Alphatec had a negative return on equity of 1,657.19% and a negative net margin of 24.33%.The business’s revenue was up 27.5% on a year-over-year basis. During the same quarter in the previous year, the company posted ($0.29) EPS. Alphatec has set its FY 2025 guidance at EPS. As a group, analysts predict that Alphatec will post -1.08 earnings per share for the current fiscal year.

Insider Activity

In related news, General Counsel Tyson Eliot Marshall sold 18,092 shares of the company’s stock in a transaction that occurred on Tuesday, August 5th. The shares were sold at an average price of $14.91, for a total transaction of $269,751.72. Following the completion of the transaction, the general counsel owned 438,331 shares of the company’s stock, valued at approximately $6,535,515.21. This represents a 3.96% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Craig E. Hunsaker sold 50,000 shares of the company’s stock in a transaction that occurred on Tuesday, August 5th. The stock was sold at an average price of $15.00, for a total transaction of $750,000.00. Following the transaction, the executive vice president directly owned 1,400,018 shares of the company’s stock, valued at $21,000,270. This trade represents a 3.45% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 510,247 shares of company stock valued at $7,627,527 in the last 90 days. Company insiders own 20.90% of the company’s stock.

Hedge Funds Weigh In On Alphatec

Several institutional investors and hedge funds have recently bought and sold shares of ATEC. Nuveen LLC acquired a new position in Alphatec during the first quarter worth approximately $135,874,000. Royal Bank of Canada increased its position in Alphatec by 171.2% during the fourth quarter. Royal Bank of Canada now owns 3,185,283 shares of the medical technology company’s stock worth $29,240,000 after purchasing an additional 2,010,806 shares during the last quarter. Granite Investment Partners LLC increased its position in Alphatec by 320.6% during the second quarter. Granite Investment Partners LLC now owns 1,720,944 shares of the medical technology company’s stock worth $19,102,000 after purchasing an additional 1,311,748 shares during the last quarter. MetLife Investment Management LLC increased its position in Alphatec by 1,818.5% during the 1st quarter. MetLife Investment Management LLC now owns 1,213,943 shares of the medical technology company’s stock worth $12,309,000 after purchasing an additional 1,150,669 shares in the last quarter. Finally, Nuveen Asset Management LLC raised its holdings in Alphatec by 78.4% in the fourth quarter. Nuveen Asset Management LLC now owns 2,584,996 shares of the medical technology company’s stock valued at $23,730,000 after buying an additional 1,136,330 shares during the period. Institutional investors and hedge funds own 66.35% of the company’s stock.

Alphatec Company Profile

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.