Wall Street Zen Upgrades Alphatec (NASDAQ:ATEC) to Buy

Alphatec (NASDAQ:ATEC) was upgraded by investment analysts at Wall Street Zen from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Saturday.

A number of other research firms have also recently commented on ATEC. Weiss Ratings reissued a “sell (e+)” rating on shares of Alphatec in a report on Monday, December 29th. Piper Sandler reissued an “overweight” rating and set a $25.00 target price (up previously from $20.00) on shares of Alphatec in a research note on Friday, October 31st. Wells Fargo & Company boosted their price target on Alphatec from $14.00 to $16.00 and gave the stock an “overweight” rating in a report on Thursday, October 16th. Lake Street Capital set a $25.00 price objective on shares of Alphatec and gave the company a “buy” rating in a report on Friday, October 31st. Finally, Canaccord Genuity Group boosted their target price on shares of Alphatec from $20.00 to $25.00 and gave the stock a “buy” rating in a report on Friday, October 31st. Ten research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $22.82.

Alphatec Stock Down 0.1%

Shares of Alphatec stock opened at $14.83 on Friday. The company has a 50-day simple moving average of $19.65 and a two-hundred day simple moving average of $16.88. The stock has a market capitalization of $2.20 billion, a PE ratio of -14.26 and a beta of 1.01. Alphatec has a 52-week low of $8.81 and a 52-week high of $23.29. The company has a debt-to-equity ratio of 43.02, a quick ratio of 1.24 and a current ratio of 1.99.

Alphatec (NASDAQ:ATEC) last announced its quarterly earnings results on Thursday, October 30th. The medical technology company reported $0.03 earnings per share for the quarter, beating the consensus estimate of ($0.06) by $0.09. The firm had revenue of $196.50 million for the quarter, compared to the consensus estimate of $182.78 million. During the same period last year, the business earned ($0.28) EPS. Alphatec’s revenue was up 30.4% on a year-over-year basis. On average, analysts anticipate that Alphatec will post -1.08 EPS for the current fiscal year.

Insider Buying and Selling at Alphatec

In other Alphatec news, major shareholder Jennifer N. Pritzker sold 250,000 shares of Alphatec stock in a transaction on Monday, November 24th. The shares were sold at an average price of $20.62, for a total value of $5,155,000.00. Following the completion of the transaction, the insider directly owned 10,895,045 shares of the company’s stock, valued at $224,655,827.90. This trade represents a 2.24% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, major shareholder Squadron Capital Llc sold 250,000 shares of the business’s stock in a transaction dated Monday, November 24th. The stock was sold at an average price of $20.62, for a total transaction of $5,155,000.00. Following the completion of the sale, the insider owned 10,895,045 shares in the company, valued at approximately $224,655,827.90. This trade represents a 2.24% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 3,233,342 shares of company stock worth $66,688,781 over the last 90 days. 20.90% of the stock is owned by insiders.

Institutional Investors Weigh In On Alphatec

Several institutional investors have recently modified their holdings of ATEC. Aster Capital Management DIFC Ltd purchased a new stake in Alphatec during the 3rd quarter valued at $34,000. Osterweis Capital Management Inc. bought a new stake in shares of Alphatec in the 2nd quarter worth about $37,000. China Universal Asset Management Co. Ltd. bought a new stake in shares of Alphatec in the 3rd quarter worth about $73,000. FNY Investment Advisers LLC purchased a new position in shares of Alphatec during the 3rd quarter worth about $74,000. Finally, Nisa Investment Advisors LLC grew its holdings in 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 purchasing an additional 1,045 shares during the last quarter. 66.35% of the stock is owned by institutional investors.

About Alphatec

Alphatec Holdings, Inc (NASDAQ: ATEC) is a medical technology company focused on the design, development and commercialization of products for the surgical correction of degenerative spinal conditions. The company’s portfolio centers on interbody implants, biologics, fixation devices and surgical planning tools intended to improve patient outcomes in spinal fusion procedures. Alphatec’s flagship offerings include customizable interbody cages, bone graft materials and specialized instrumentation designed for minimally invasive and open spinal surgeries.

Founded as Alphatec Spine in 1985 and rebranded as Alphatec Holdings in 2018, the company has grown from a single-product organization into a multi-platform innovator in the spine market.