Alphatec (NASDAQ:ATEC) Given New $13.00 Price Target at Stifel Nicolaus

Alphatec (NASDAQ:ATEC) had its price objective cut by Stifel Nicolaus from $16.00 to $13.00 in a research report report published on Wednesday morning, Marketbeat Ratings reports. They currently have a buy rating on the medical technology company’s stock.

Several other research firms have also recently issued reports on ATEC. Lake Street Capital restated a “buy” rating and set a $15.00 target price on shares of Alphatec in a research note on Wednesday, May 6th. Piper Sandler reiterated an “overweight” rating and issued a $14.00 price target (down from $25.00) on shares of Alphatec in a research note on Wednesday, May 6th. Weiss Ratings raised shares of Alphatec from a “sell (e+)” rating to a “sell (d-)” rating in a report on Wednesday, May 6th. Wells Fargo & Company lowered their price objective on shares of Alphatec from $28.00 to $14.00 and set an “overweight” rating on the stock in a research report on Thursday, May 7th. Finally, Canaccord Genuity Group dropped their target price on shares of Alphatec from $25.00 to $23.00 and set a “buy” rating on the stock in a report on Wednesday, May 6th. Eleven investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $17.46.

Alphatec Price Performance

ATEC opened at $9.21 on Wednesday. The firm has a market cap of $1.42 billion, a PE ratio of -11.23 and a beta of 0.85. The stock has a 50-day moving average price of $8.36 and a 200-day moving average price of $12.35. Alphatec has a 1 year low of $6.82 and a 1 year high of $23.29. The company has a debt-to-equity ratio of 40.35, a current ratio of 1.90 and a quick ratio of 1.12.

Insider Transactions at Alphatec

In other Alphatec news, Director Karen K. Mcginnis sold 6,050 shares of the company’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 value of $48,460.50. Following the completion of the transaction, the director directly owned 94,671 shares in the company, valued at $758,314.71. This represents a 6.01% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 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. Corporate insiders own 13.48% of the company’s stock.

Institutional Investors Weigh In On Alphatec

A number of institutional investors have recently bought and sold shares of ATEC. Summit Securities Group LLC bought a new stake in Alphatec during the first quarter valued at about $29,000. Osterweis Capital Management Inc. purchased a new position in Alphatec during the second quarter valued at $37,000. Northwestern Mutual Wealth Management Co. grew its stake in Alphatec by 157.1% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 2,571 shares of the medical technology company’s stock valued at $54,000 after acquiring an additional 1,571 shares in the last quarter. FNY Investment Advisers LLC bought a new stake in Alphatec in the 3rd quarter valued at $74,000. Finally, Lido Advisors LLC bought a new stake in Alphatec in the 1st quarter valued at $115,000. Hedge funds and other institutional investors 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.