Alphatec (NASDAQ:ATEC) Earns Overweight Rating from Analysts at JPMorgan Chase & Co.

JPMorgan Chase & Co. started coverage on shares of Alphatec (NASDAQ:ATEC) in a research report released on Friday, Marketbeat Ratings reports. The brokerage issued an overweight rating and a $19.00 price objective on the medical technology company’s stock.

Several other analysts have also recently weighed in on the stock. Canaccord Genuity Group restated a “buy” rating and set a $20.00 price objective on shares of Alphatec in a research report on Friday, August 1st. Weiss Ratings reiterated a “sell (d-)” rating on shares of Alphatec in a research report on Tuesday, October 14th. Wells Fargo & Company lifted their target price on shares of Alphatec from $14.00 to $16.00 and gave the stock an “overweight” rating in a research report on Thursday, October 16th. Wall Street Zen upgraded shares of Alphatec from a “hold” rating to a “buy” rating in a research report on Saturday, October 18th. Finally, Barclays reiterated an “overweight” rating and issued a $22.00 target price (up previously from $21.00) on shares of Alphatec in a research report on Monday, August 4th. Eight analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company. According to MarketBeat.com, Alphatec currently has an average rating of “Moderate Buy” and an average price target of $18.25.

Alphatec Trading Up 1.4%

Shares of ATEC stock opened at $16.11 on Friday. Alphatec has a 52-week low of $5.18 and a 52-week 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 company has a 50-day simple moving average of $15.17 and a two-hundred day simple moving average of $13.02. The company has a market capitalization of $2.38 billion, a price-to-earnings ratio of -14.26 and a beta of 1.05.

Alphatec (NASDAQ:ATEC) last released its earnings results on Thursday, July 31st. The medical technology company reported $0.02 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.06) by $0.08. The company had revenue of $185.54 million for the quarter, compared to the consensus estimate of $178.85 million. During the same period in the prior year, the company earned ($0.29) earnings per share. The firm’s revenue was up 27.5% on a year-over-year basis. Alphatec has set its FY 2025 guidance at EPS. Research analysts anticipate that Alphatec will post -1.08 EPS for the current fiscal year.

Insider Activity at Alphatec

In related news, EVP David Sponsel sold 137,445 shares of the business’s stock in a transaction dated Thursday, September 18th. The shares were sold at an average price of $15.09, for a total transaction of $2,074,045.05. Following the transaction, the executive vice president owned 534,416 shares in the company, valued at $8,064,337.44. The trade was a 20.46% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Patrick Miles sold 300,000 shares of the business’s stock in a transaction dated Tuesday, September 2nd. The stock was sold at an average price of $15.73, for a total transaction of $4,719,000.00. Following the sale, the chief executive officer directly owned 5,564,078 shares in the company, valued at $87,522,946.94. The trade was a 5.12% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 780,575 shares of company stock valued at $11,769,527 over the last three months. Corporate insiders own 20.90% of the company’s stock.

Institutional Investors Weigh In On Alphatec

Several hedge funds have recently bought and sold shares of the business. State of Alaska Department of Revenue bought a new stake in Alphatec during the third quarter worth about $120,000. SG Americas Securities LLC bought a new stake in Alphatec during the third quarter worth about $1,115,000. VIRGINIA RETIREMENT SYSTEMS ET Al bought a new stake in Alphatec during the third quarter worth about $150,000. Diversified Trust Co bought a new stake in Alphatec during the third quarter worth about $157,000. Finally, Segment Wealth Management LLC boosted its stake in Alphatec by 49.2% during the third quarter. Segment Wealth Management LLC now owns 14,920 shares of the medical technology company’s stock worth $217,000 after acquiring an additional 4,920 shares in the last quarter. 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.