Morgan Stanley Forecasts Strong Price Appreciation for Alphatec (NASDAQ:ATEC) Stock

Alphatec (NASDAQ:ATEC) had its price objective raised by equities researchers at Morgan Stanley from $16.00 to $21.00 in a research note issued to investors on Monday, MarketBeat Ratings reports. The brokerage presently has an “equal weight” rating on the medical technology company’s stock. Morgan Stanley’s price objective points to a potential upside of 1.35% from the stock’s previous close.

A number of other research analysts have also weighed in on ATEC. Needham & Company LLC lifted their target price on Alphatec from $16.00 to $22.00 and gave the company a “buy” rating in a report on Friday, October 31st. Lake Street Capital set a $25.00 price objective on shares of Alphatec and gave the company a “buy” rating in a research report on Friday, October 31st. Stifel Nicolaus began coverage on shares of Alphatec in a report on Tuesday, October 28th. They issued a “buy” rating and a $20.00 price target for the company. Wall Street Zen upgraded Alphatec from a “hold” rating to a “buy” rating in a research report on Saturday, October 18th. Finally, Barclays boosted their price objective on Alphatec from $22.00 to $23.00 and gave the stock an “overweight” rating in a report on Monday, November 3rd. Nine equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, Alphatec presently has an average rating of “Moderate Buy” and an average target price of $22.00.

Alphatec Stock Up 2.4%

ATEC opened at $20.72 on Monday. Alphatec has a 12 month low of $8.18 and a 12 month high of $21.04. The company has a market cap of $3.08 billion, a PE ratio of -18.34 and a beta of 1.17. The company has a current ratio of 2.88, a quick ratio of 1.77 and a debt-to-equity ratio of 23.22. The company has a 50 day moving average of $15.82 and a 200 day moving average of $13.73.

Alphatec (NASDAQ:ATEC) last posted its earnings results on Thursday, October 30th. The medical technology company reported $0.03 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.06) by $0.09. The company had revenue of $196.50 million for the quarter, compared to analysts’ expectations of $182.78 million. The company’s revenue was up 30.4% on a year-over-year basis. During the same quarter in the prior year, the company earned ($0.28) EPS. Alphatec has set its FY 2025 guidance at EPS. On average, sell-side analysts expect that Alphatec will post -1.08 EPS for the current year.

Insider Buying and Selling at Alphatec

In other news, EVP David Sponsel sold 137,445 shares of the stock in a transaction that occurred on Thursday, September 18th. The stock was sold at an average price of $15.09, for a total transaction of $2,074,045.05. Following the completion of the sale, the executive vice president owned 534,416 shares of the company’s stock, valued at approximately $8,064,337.44. This represents a 20.46% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Mortimer Berkowitz III sold 62,500 shares of the stock in a transaction on Tuesday, September 9th. The shares were sold at an average price of $15.97, for a total transaction of $998,125.00. Following the sale, the director directly owned 618,050 shares of the company’s stock, valued at $9,870,258.50. The trade was a 9.18% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 1,078,823 shares of company stock worth $18,215,195 over the last quarter. Company insiders own 20.90% of the company’s stock.

Hedge Funds Weigh In On Alphatec

A number of institutional investors and hedge funds have recently made changes to their positions in ATEC. Osterweis Capital Management Inc. bought a new position in Alphatec during the 2nd quarter valued at approximately $37,000. Larson Financial Group LLC bought a new stake in Alphatec in the 1st quarter worth approximately $54,000. Nisa Investment Advisors LLC lifted its holdings in shares of Alphatec by 22.4% during the 2nd quarter. Nisa Investment Advisors LLC now owns 5,714 shares of the medical technology company’s stock valued at $63,000 after buying an additional 1,045 shares during the period. China Universal Asset Management Co. Ltd. bought a new stake in shares of Alphatec in the third quarter worth $73,000. Finally, FORA Capital LLC bought a new stake in shares of Alphatec in the first quarter worth $102,000. 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.