Alphatec (NASDAQ:ATEC) Rating Increased to Buy at Wall Street Zen

Alphatec (NASDAQ:ATEC) was upgraded by stock 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 analysts have also weighed in on ATEC. JPMorgan Chase & Co. began coverage on shares of Alphatec in a research note on Friday, October 24th. They issued an “overweight” rating and a $19.00 price objective for the company. Barclays increased their price objective on shares of Alphatec from $23.00 to $27.00 and gave the company an “overweight” rating in a research note on Wednesday, January 7th. Wells Fargo & Company boosted their price objective on shares of Alphatec from $14.00 to $16.00 and gave the stock an “overweight” rating in a research note on Thursday, October 16th. Needham & Company LLC restated a “buy” rating and set a $22.00 target price on shares of Alphatec in a report on Monday, January 12th. Finally, TD Cowen reiterated a “buy” rating on shares of Alphatec in a report on Tuesday. 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 stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $22.82.

Alphatec Stock Performance

ATEC stock opened at $14.83 on Friday. The firm has a market cap of $2.20 billion, a price-to-earnings ratio of -14.26 and a beta of 1.01. Alphatec has a twelve month low of $8.81 and a twelve month high of $23.29. The company has a quick ratio of 1.24, a current ratio of 1.99 and a debt-to-equity ratio of 43.02. The business’s fifty day simple moving average is $19.65 and its two-hundred day simple moving average is $16.88.

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

Insider Buying and Selling

In related news, COO Scott Lish sold 19,900 shares of the stock in a transaction that occurred on Tuesday, December 16th. The shares were sold at an average price of $19.64, for a total value of $390,836.00. Following the completion of the transaction, the chief operating officer directly owned 641,432 shares of the company’s stock, valued at $12,597,724.48. This trade represents a 3.01% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director David R. Pelizzon sold 250,000 shares of the business’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 transaction of $4,915,000.00. Following the sale, the director directly owned 10,395,045 shares in the company, valued at approximately $204,366,584.70. This represents a 2.35% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 3,233,342 shares of company stock valued at $66,688,781 in the last 90 days. 20.90% of the stock is owned by insiders.

Institutional Investors Weigh In On Alphatec

Large investors have recently made changes to their positions in the stock. Emerald Advisers LLC lifted its stake in Alphatec by 3.8% during the 2nd quarter. Emerald Advisers LLC now owns 1,684,334 shares of the medical technology company’s stock valued at $18,696,000 after acquiring an additional 60,885 shares during the period. Assenagon Asset Management S.A. lifted its position in Alphatec by 7,083.2% during the third quarter. Assenagon Asset Management S.A. now owns 750,429 shares of the medical technology company’s stock valued at $10,911,000 after purchasing an additional 739,982 shares during the period. American Century Companies Inc. boosted its holdings in Alphatec by 6.0% in the second quarter. American Century Companies Inc. now owns 6,177,161 shares of the medical technology company’s stock valued at $68,567,000 after purchasing an additional 347,130 shares during the last quarter. Truist Financial Corp purchased a new stake in Alphatec in the second quarter valued at $216,000. Finally, Wealth Enhancement Advisory Services LLC raised its stake in shares of Alphatec by 4.0% during the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 62,376 shares of the medical technology company’s stock valued at $686,000 after buying an additional 2,389 shares during the last quarter. 66.35% of the stock is owned by hedge funds and other 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.