Alphatec (NASDAQ:ATEC) Upgraded at Stephens

Stephens upgraded shares of Alphatec (NASDAQ:ATEC) to a strong-buy rating in a research note published on Thursday,Zacks.com reports.

Several other equities analysts also recently weighed in on ATEC. Barclays reduced their target price on shares of Alphatec from $27.00 to $24.00 and set an “overweight” rating for the company in a research note on Thursday, May 7th. Wells Fargo & Company cut their price objective on shares of Alphatec from $28.00 to $14.00 and set an “overweight” rating for the company in a report on Thursday, May 7th. Wall Street Zen lowered shares of Alphatec from a “buy” rating to a “hold” rating in a research note on Sunday, July 12th. BMO Capital Markets assumed coverage on shares of Alphatec in a research note on Wednesday, July 8th. They issued an “outperform” rating and a $11.00 price objective for the company. Finally, TD Cowen lowered their target price on shares of Alphatec from $20.00 to $11.00 and set a “buy” rating on the stock in a report on Wednesday, May 6th. Two analysts have rated the stock with a Strong Buy rating, ten have given a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $17.29.

Alphatec Trading Up 0.6%

Shares of Alphatec stock opened at $8.26 on Thursday. The stock has a market capitalization of $1.27 billion, a P/E ratio of -10.07 and a beta of 0.85. Alphatec has a 52-week low of $6.82 and a 52-week high of $23.29. The company has a debt-to-equity ratio of 40.35, a quick ratio of 1.12 and a current ratio of 1.90. The stock’s 50-day simple moving average is $8.50 and its 200 day simple moving average is $11.40.

Insider Buying and Selling at Alphatec

In other news, Director Karen K. Mcginnis sold 6,050 shares of the company’s stock in a transaction dated Thursday, June 11th. The stock was sold at an average price of $8.01, for a total transaction of $48,460.50. Following the sale, 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 sale was disclosed in a filing with the SEC, which is available at 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 currently owned by corporate insiders.

Hedge Funds Weigh In On Alphatec

Several hedge funds have recently bought and sold shares of ATEC. Summit Securities Group LLC bought a new stake in Alphatec during the 1st quarter worth approximately $29,000. Osterweis Capital Management Inc. bought a new position in Alphatec in the 2nd quarter valued at $37,000. Northwestern Mutual Wealth Management Co. boosted its holdings in Alphatec by 157.1% in the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 2,571 shares of the medical technology company’s stock valued at $54,000 after purchasing an additional 1,571 shares during the period. Atlas Brown Inc. bought a new position in Alphatec in the 2nd quarter valued at $111,000. Finally, Lido Advisors LLC purchased a new position in shares of Alphatec during the 1st quarter valued at $115,000. Hedge funds and other 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.