Alphatec (NASDAQ:ATEC) Raised to “Strong-Buy” at Wells Fargo & Company

Alphatec (NASDAQ:ATEC) was upgraded by stock analysts at Wells Fargo & Company to a “strong-buy” rating in a note issued to investors on Wednesday,Zacks.com reports.

A number of other equities research analysts also recently issued reports on ATEC. Piper Sandler restated an “overweight” rating on shares of Alphatec in a research note on Wednesday, February 25th. Lake Street Capital reiterated a “buy” rating on shares of Alphatec in a research note on Wednesday, February 25th. Loop Capital set a $25.00 price objective on shares of Alphatec in a report on Wednesday, December 10th. Wall Street Zen upgraded shares of Alphatec from a “hold” rating to a “buy” rating in a research report on Saturday, January 31st. Finally, Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Alphatec in a report on Monday, December 29th. One equities research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $22.82.

Alphatec Price Performance

ATEC opened at $12.73 on Wednesday. The company’s 50-day simple moving average is $14.37 and its two-hundred day simple moving average is $16.78. The company has a debt-to-equity ratio of 40.35, a quick ratio of 1.28 and a current ratio of 2.06. The stock has a market capitalization of $1.93 billion, a P/E ratio of -13.40 and a beta of 1.02. Alphatec has a 52-week low of $8.81 and a 52-week high of $23.29.

Alphatec (NASDAQ:ATEC) last posted its earnings results on Tuesday, February 24th. The medical technology company reported $0.06 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. The company’s revenue for the quarter was up 20.4% on a year-over-year basis. During the same period last year, the firm posted ($0.23) EPS. As a group, analysts predict that Alphatec will post -1.08 EPS for the current year.

Insider Buying and Selling

In other Alphatec news, General Counsel Tyson Eliot Marshall sold 88,835 shares of the company’s stock in a transaction that occurred on Thursday, March 5th. The shares were sold at an average price of $12.49, for a total value of $1,109,549.15. Following the completion of the transaction, the general counsel directly owned 559,459 shares in the company, valued at $6,987,642.91. This represents a 13.70% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Craig E. Hunsaker sold 82,765 shares of the company’s stock in a transaction on Monday, March 9th. The stock was sold at an average price of $12.45, for a total transaction of $1,030,424.25. Following the completion of the transaction, the executive vice president directly owned 1,726,209 shares of the company’s stock, valued at $21,491,302.05. This represents a 4.58% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 826,972 shares of company stock worth $11,285,386 in the last ninety days. Corporate insiders own 20.90% of the company’s stock.

Institutional Trading of Alphatec

Several institutional investors and hedge funds have recently added to or reduced their stakes in ATEC. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in shares of Alphatec by 4.5% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 74,005 shares of the medical technology company’s stock worth $750,000 after buying an additional 3,196 shares in the last quarter. Dynamic Technology Lab Private Ltd bought a new stake in Alphatec in the 1st quarter worth approximately $257,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its stake in Alphatec by 18.4% in the 1st 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 worth $2,696,000 after acquiring an additional 41,264 shares during the last quarter. Savant Capital LLC raised its stake in Alphatec by 18.8% during the second quarter. Savant Capital LLC now owns 15,303 shares of the medical technology company’s stock valued at $170,000 after purchasing an additional 2,421 shares in the last quarter. Finally, ProShare Advisors LLC lifted its position in Alphatec by 5.6% during the second quarter. ProShare Advisors LLC now owns 23,790 shares of the medical technology company’s stock valued at $264,000 after purchasing an additional 1,254 shares during the last quarter. Institutional investors own 66.35% of the company’s stock.

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.