Alphatec (NASDAQ:ATEC) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of Alphatec (NASDAQ:ATEC) from a hold rating to a buy rating in a research report released on Sunday.

A number of other equities research analysts have also commented on ATEC. Lake Street Capital upgraded Alphatec to a “buy” rating and set a $18.00 target price on the stock in a research report on Monday, June 16th. Canaccord Genuity Group reaffirmed a “buy” rating and set a $20.00 target price on shares of Alphatec in a report on Friday, August 1st. Finally, Barclays reaffirmed an “overweight” rating and set a $22.00 target price (up from $21.00) on shares of Alphatec in a report on Monday, August 4th. Six analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, the stock has a consensus rating of “Buy” and an average price target of $18.50.

Alphatec Stock Down 3.3%

NASDAQ:ATEC opened at $15.80 on Friday. The company has a current ratio of 2.88, a quick ratio of 1.77 and a debt-to-equity ratio of 23.22. The stock has a fifty day simple moving average of $13.58 and a 200-day simple moving average of $11.99. The company has a market cap of $2.34 billion, a price-to-earnings ratio of -13.98 and a beta of 1.02. Alphatec has a twelve month low of $4.88 and a twelve month high of $16.70.

Alphatec (NASDAQ:ATEC) last posted its earnings results on Thursday, July 31st. The medical technology company reported $0.02 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.06) by $0.08. Alphatec had a negative return on equity of 1,657.19% and a negative net margin of 24.33%.The company had revenue of $185.54 million for the quarter, compared to analyst estimates of $178.85 million. During the same quarter in the previous year, the firm earned ($0.29) earnings per share. The firm’s quarterly revenue was up 27.5% compared to the same quarter last year. Alphatec has set its FY 2025 guidance at EPS. Analysts anticipate that Alphatec will post -1.08 EPS for the current year.

Insiders Place Their Bets

In other Alphatec news, CEO Patrick Miles sold 300,000 shares of the stock in a transaction dated Tuesday, September 2nd. The stock was sold at an average price of $15.73, for a total value of $4,719,000.00. Following the sale, the chief executive officer owned 5,564,078 shares of the company’s stock, valued at $87,522,946.94. This trade represents a 5.12% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Craig E. Hunsaker sold 50,000 shares of the stock in a transaction dated Tuesday, August 5th. The shares were sold at an average price of $15.00, for a total value of $750,000.00. Following the completion of the sale, the executive vice president directly owned 1,400,018 shares in the company, valued at $21,000,270. This represents a 3.45% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 506,284 shares of company stock valued at $7,579,535. 22.80% of the stock is owned by company insiders.

Institutional Investors Weigh In On Alphatec

Hedge funds and other institutional investors have recently made changes to their positions in the business. Nuveen LLC purchased a new position in Alphatec during the 1st quarter worth approximately $135,874,000. Royal Bank of Canada grew its stake in shares of Alphatec by 171.2% in the 4th quarter. Royal Bank of Canada now owns 3,185,283 shares of the medical technology company’s stock valued at $29,240,000 after purchasing an additional 2,010,806 shares during the last quarter. Granite Investment Partners LLC grew its stake in shares of Alphatec by 320.6% in the 2nd quarter. Granite Investment Partners LLC now owns 1,720,944 shares of the medical technology company’s stock valued at $19,102,000 after purchasing an additional 1,311,748 shares during the last quarter. MetLife Investment Management LLC grew its stake in shares of Alphatec by 1,818.5% in the 1st quarter. MetLife Investment Management LLC now owns 1,213,943 shares of the medical technology company’s stock valued at $12,309,000 after purchasing an additional 1,150,669 shares during the last quarter. Finally, Nuveen Asset Management LLC grew its stake in shares of Alphatec by 78.4% in the 4th quarter. Nuveen Asset Management LLC now owns 2,584,996 shares of the medical technology company’s stock valued at $23,730,000 after purchasing an additional 1,136,330 shares during the last quarter. Institutional investors and hedge funds own 66.35% of the company’s stock.

About Alphatec

Alphatec Holdings, Inc, a medical technology company, designs, develops, and advances technologies for the surgical treatment of spinal disorders in the United States and internationally. It manufactures and sells implants and instruments through third-party suppliers. The company offers Alpha InformatiX product platform, including EOS imaging system that provides full-body imaging; VEA alignment mobile application, which leverages EOS technology to more quickly quantify alignment parameters on a mobile device; SafeOp Neural InformatiX System that automates electromyographic and somatosensory evoked potential monitoring; and Valence, an intra-operative system that integrates navigation and robotics into spine procedures, as well as Sigma Prone TransPsoas (PTP) Access and PTP Patient Positioning Systems.