Alphatec (NASDAQ:ATEC) Rating Increased to Strong-Buy at Stephens

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

A number of other equities analysts have also commented on ATEC. Piper Sandler reiterated an “overweight” rating and issued a $14.00 price objective (down from $25.00) on shares of Alphatec in a research note on Wednesday, May 6th. JPMorgan Chase & Co. lowered their target price on Alphatec from $24.00 to $16.00 and set an “overweight” rating on the stock in a report on Wednesday, May 6th. Wall Street Zen downgraded Alphatec from a “buy” rating to a “hold” rating in a research report on Sunday, July 12th. Stifel Nicolaus cut their price target on Alphatec from $16.00 to $13.00 and set a “buy” rating for the company in a report on Wednesday, July 8th. Finally, HC Wainwright reissued a “buy” rating and issued a $24.00 price objective on shares of Alphatec in a research report on Thursday, May 7th. Two investment analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, Alphatec currently has a consensus rating of “Moderate Buy” and an average price target of $17.29.

Alphatec Stock Performance

Shares of ATEC opened at $8.21 on Thursday. The company has a market capitalization of $1.26 billion, a PE ratio of -10.01 and a beta of 0.85. The company has a debt-to-equity ratio of 40.35, a current ratio of 1.90 and a quick ratio of 1.12. Alphatec has a one year low of $6.82 and a one year high of $23.29. The company’s fifty day moving average price is $8.49 and its 200 day moving average price is $11.43.

Insider Activity at Alphatec

In related news, Director Karen K. Mcginnis sold 6,050 shares of the stock in a transaction dated 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 sale, the director owned 94,671 shares in the company, valued at approximately $758,314.71. This trade represents a 6.01% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible 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.

Hedge Funds Weigh In On Alphatec

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Creative Planning grew its position in Alphatec by 0.9% during the 3rd quarter. Creative Planning now owns 58,654 shares of the medical technology company’s stock worth $853,000 after acquiring an additional 534 shares during the last quarter. Great Lakes Advisors LLC increased its holdings in Alphatec by 0.4% during the 4th quarter. Great Lakes Advisors LLC now owns 278,717 shares of the medical technology company’s stock valued at $5,864,000 after purchasing an additional 1,226 shares in the last quarter. Franklin Resources Inc. raised its position in Alphatec by 2.0% in the 4th quarter. Franklin Resources Inc. now owns 64,774 shares of the medical technology company’s stock valued at $1,363,000 after purchasing an additional 1,299 shares during the last quarter. Oppenheimer Asset Management Inc. raised its position in Alphatec by 9.9% in the 4th quarter. Oppenheimer Asset Management Inc. now owns 15,075 shares of the medical technology company’s stock valued at $317,000 after purchasing an additional 1,353 shares during the last quarter. Finally, Northwestern Mutual Wealth Management Co. raised its position 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 last quarter. 66.35% of the stock is currently owned by institutional investors.

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.