Stephens Upgrades Alphatec (NASDAQ:ATEC) to “Strong-Buy”

Alphatec (NASDAQ:ATEC) was upgraded by analysts at Stephens to a “strong-buy” rating in a research note issued to investors on Thursday,Zacks.com reports.

A number of other equities research analysts also recently weighed in on ATEC. BMO Capital Markets assumed coverage on shares of Alphatec in a research note on Wednesday, July 8th. They set an “outperform” rating and a $11.00 price target for the company. Weiss Ratings raised shares of Alphatec from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Wednesday, May 6th. Wall Street Zen lowered shares of Alphatec from a “buy” rating to a “hold” rating in a report on Sunday, July 12th. Barclays dropped their target price on shares of Alphatec from $27.00 to $24.00 and set an “overweight” rating for the company in a research report on Thursday, May 7th. Finally, Canaccord Genuity Group cut their price target on Alphatec from $25.00 to $23.00 and set a “buy” rating on the stock in a research note on Wednesday, May 6th. Two analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating, one has given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $17.29.

Alphatec Price Performance

Alphatec stock opened at $8.26 on Thursday. The business’s 50-day simple moving average is $8.50 and its 200 day simple moving average is $11.40. The stock has a market cap of $1.27 billion, a price-to-earnings ratio of -10.07 and a beta of 0.85. Alphatec has a 12-month low of $6.82 and a 12-month high of $23.29. The company has a quick ratio of 1.12, a current ratio of 1.90 and a debt-to-equity ratio of 40.35.

Insiders Place Their Bets

In related news, Director Karen K. Mcginnis sold 6,050 shares of the business’s stock in a transaction that occurred on Thursday, June 11th. The shares were sold at an average price of $8.01, for a total transaction of $48,460.50. Following the completion of the transaction, the director owned 94,671 shares in the company, valued at approximately $758,314.71. The trade was a 6.01% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. 13.48% of the stock is owned by insiders.

Hedge Funds Weigh In On Alphatec

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in shares of Alphatec by 4.5% in 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 in the last quarter. Dynamic Technology Lab Private Ltd bought a new position in Alphatec during the first quarter worth about $257,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its holdings in Alphatec by 18.4% during 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 worth $2,696,000 after acquiring an additional 41,264 shares in the last quarter. Quantbot Technologies LP acquired a new position in Alphatec in the second quarter valued at about $242,000. Finally, Invesco Ltd. grew its stake in Alphatec by 455.0% in the second quarter. Invesco Ltd. now owns 282,212 shares of the medical technology company’s stock valued at $3,133,000 after acquiring an additional 231,367 shares during the period. 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.