Alphatec (NASDAQ:ATEC) Price Target Cut to $20.00 by Analysts at Stifel Nicolaus

Alphatec (NASDAQ:ATEC) had its price target decreased by Stifel Nicolaus from $24.00 to $20.00 in a research report report published on Monday morning,Benzinga reports. Stifel Nicolaus currently has a buy rating on the medical technology company’s stock.

Other equities research analysts also recently issued research reports about the stock. Barclays boosted their target price on shares of Alphatec from $23.00 to $27.00 and gave the stock an “overweight” rating in a research report on Wednesday, January 7th. Weiss Ratings reiterated a “sell (e+)” rating on shares of Alphatec in a research note on Monday, December 29th. Lake Street Capital reissued a “buy” rating on shares of Alphatec in a report on Wednesday, February 25th. Piper Sandler restated an “overweight” rating on shares of Alphatec in a research note on Wednesday, February 25th. Finally, HC Wainwright reaffirmed a “buy” rating and set a $24.00 target price on shares of Alphatec in a report on Monday, January 12th. Ten analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, Alphatec presently has an average rating of “Moderate Buy” and an average price target of $22.82.

Alphatec Stock Up 5.2%

Shares of NASDAQ ATEC opened at $12.87 on Monday. The company has a debt-to-equity ratio of 40.35, a quick ratio of 1.28 and a current ratio of 2.06. Alphatec has a 1 year low of $8.81 and a 1 year high of $23.29. The stock’s 50-day simple moving average is $15.78 and its 200-day simple moving average is $16.99. The firm has a market cap of $1.95 billion, a price-to-earnings ratio of -13.55 and a beta of 1.02.

Alphatec (NASDAQ:ATEC) last issued its quarterly earnings results on Tuesday, February 24th. The medical technology company reported $0.06 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.04 by $0.02. The company had revenue of $212.93 million during the quarter, compared to the consensus estimate of $212.67 million. During the same quarter last year, the firm posted ($0.23) EPS. The firm’s quarterly revenue was up 20.4% on a year-over-year basis. As a group, equities analysts anticipate that Alphatec will post -1.08 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, Director David R. Pelizzon sold 250,000 shares of the firm’s stock in a transaction that occurred on Tuesday, December 16th. The stock was sold at an average price of $19.66, for a total value of $4,915,000.00. Following the sale, the director directly owned 10,395,045 shares in the company, valued at $204,366,584.70. This trade represents a 2.35% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP David Sponsel sold 60,425 shares of Alphatec stock in a transaction on Thursday, February 5th. The shares were sold at an average price of $13.79, for a total value of $833,260.75. Following the sale, the executive vice president directly owned 349,500 shares in the company, valued at $4,819,605. The trade was a 14.74% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders sold 640,208 shares of company stock worth $11,653,026. 22.80% of the stock is owned by company insiders.

Institutional Investors Weigh In On Alphatec

Several institutional investors have recently bought and sold shares of the stock. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in Alphatec by 4.5% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 74,005 shares of the medical technology company’s stock valued at $750,000 after buying an additional 3,196 shares during the period. Dynamic Technology Lab Private Ltd acquired a new stake in shares of Alphatec in the 1st quarter worth approximately $257,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its holdings in shares of Alphatec by 18.4% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 265,907 shares of the medical technology company’s stock valued at $2,696,000 after acquiring an additional 41,264 shares in the last quarter. Teacher Retirement System of Texas boosted its holdings in shares of Alphatec by 12.3% in the second quarter. Teacher Retirement System of Texas now owns 17,447 shares of the medical technology company’s stock valued at $194,000 after acquiring an additional 1,912 shares in the last quarter. Finally, Bank of Montreal Can increased its stake in shares of Alphatec by 545.7% during the second quarter. Bank of Montreal Can now owns 743,041 shares of the medical technology company’s stock valued at $8,248,000 after acquiring an additional 627,973 shares during the period. Institutional investors and hedge funds own 66.35% of the company’s stock.

Alphatec Company Profile

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.