Wall Street Zen Upgrades Alphatec (NASDAQ:ATEC) to “Buy”

Alphatec (NASDAQ:ATEC) was upgraded by equities research analysts at Wall Street Zen from a “hold” rating to a “buy” rating in a research note issued to investors on Saturday.

Several other equities research analysts have also commented on ATEC. Barclays reiterated an “overweight” rating and set a $22.00 price objective (up from $21.00) on shares of Alphatec in a research note on Monday, August 4th. Weiss Ratings reissued a “sell (d-)” rating on shares of Alphatec in a research note on Tuesday, October 14th. Canaccord Genuity Group restated a “buy” rating and issued a $20.00 price objective on shares of Alphatec in a report on Friday, August 1st. Finally, Wells Fargo & Company upped their target price on shares of Alphatec from $14.00 to $16.00 and gave the stock an “overweight” rating in a report on Thursday. Seven research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $18.14.

Alphatec Stock Performance

NASDAQ:ATEC opened at $14.89 on Friday. The company has a debt-to-equity ratio of 23.22, a quick ratio of 1.77 and a current ratio of 2.88. The stock has a market capitalization of $2.20 billion, a PE ratio of -13.18 and a beta of 1.05. Alphatec has a fifty-two week low of $5.08 and a fifty-two week high of $16.70. The company has a fifty day moving average of $15.16 and a two-hundred day moving average of $12.81.

Alphatec (NASDAQ:ATEC) last released its earnings results on Thursday, July 31st. The medical technology company reported $0.02 EPS for the quarter, topping analysts’ consensus estimates of ($0.06) by $0.08. The company had revenue of $185.54 million for the quarter, compared to analysts’ expectations of $178.85 million. During the same period in the prior year, the firm earned ($0.29) EPS. The firm’s revenue for the quarter was up 27.5% on a year-over-year basis. Alphatec has set its FY 2025 guidance at EPS. As a group, research analysts forecast that Alphatec will post -1.08 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, EVP Craig E. Hunsaker sold 10,876 shares of the firm’s stock in a transaction dated Wednesday, August 6th. The shares were sold at an average price of $15.33, for a total transaction of $166,729.08. Following the completion of the sale, the executive vice president directly owned 1,389,142 shares in the company, valued at approximately $21,295,546.86. This trade represents a 0.78% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP David Sponsel sold 2,555 shares of Alphatec stock in a transaction dated Friday, September 19th. The stock was sold at an average price of $15.34, for a total transaction of $39,193.70. Following the transaction, the executive vice president directly owned 531,861 shares in the company, valued at $8,158,747.74. This trade represents a 0.48% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 780,575 shares of company stock worth $11,769,527 over the last quarter. Corporate insiders own 22.80% of the company’s stock.

Institutional Trading of Alphatec

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Nuveen LLC acquired a new position in Alphatec in the first quarter valued at approximately $135,874,000. American Century Companies Inc. raised its position 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 period. Vanguard Group Inc. lifted its stake in shares of Alphatec by 0.8% in the 1st quarter. Vanguard Group Inc. now owns 6,014,772 shares of the medical technology company’s stock valued at $60,990,000 after purchasing an additional 45,792 shares during the last quarter. Royal Bank of Canada lifted its stake in shares of Alphatec by 10.8% in the 1st quarter. Royal Bank of Canada now owns 3,527,939 shares of the medical technology company’s stock valued at $35,773,000 after purchasing an additional 342,656 shares during the last quarter. Finally, Geode Capital Management LLC grew its holdings in shares of Alphatec by 7.4% during the 2nd quarter. Geode Capital Management LLC now owns 2,697,541 shares of the medical technology company’s stock worth $29,946,000 after purchasing an additional 185,297 shares during the period. 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.