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 note published on Saturday,Wall Street Zen reports.

A number of other brokerages have also recently commented on ATEC. Stephens assumed coverage on shares of Alphatec in a report on Thursday, July 23rd. They set an “overweight” rating and a $15.00 target price for the company. Stifel Nicolaus dropped their price target on shares of Alphatec from $16.00 to $13.00 and set a “buy” rating on the stock in a research note on Wednesday, July 8th. Weiss Ratings reissued a “sell (d-)” rating on shares of Alphatec in a research report on Monday, August 3rd. UBS Group upped their price objective on Alphatec from $15.00 to $16.00 and gave the stock a “buy” rating in a research note on Wednesday, August 5th. Finally, TD Cowen raised their target price on Alphatec from $11.00 to $13.00 and gave the stock a “buy” rating in a report on Wednesday, August 5th. Thirteen investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, Alphatec has a consensus rating of “Moderate Buy” and an average target price of $17.40.

Alphatec Stock Performance

ATEC stock opened at $10.72 on Friday. The company has a market cap of $1.66 billion, a price-to-earnings ratio of -15.10 and a beta of 0.78. The business’s 50-day moving average is $9.75 and its two-hundred day moving average is $9.48. Alphatec has a fifty-two week low of $6.82 and a fifty-two week high of $23.29.

Alphatec (NASDAQ:ATEC) last released its quarterly earnings results on Tuesday, August 4th. The medical technology company reported $0.07 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.07. Alphatec had a negative return on equity of 6,752.24% and a negative net margin of 13.49%.The business had revenue of $213.51 million during the quarter, compared to the consensus estimate of $211.26 million. During the same period in the previous year, the company posted $0.02 EPS. The business’s quarterly revenue was up 15.1% compared to the same quarter last year. Equities analysts predict that Alphatec will post -0.45 earnings per share for the current year.

Insiders Place Their Bets

In other news, General Counsel Tyson Marshall sold 8,168 shares of the company’s stock in a transaction dated Wednesday, August 5th. The stock was sold at an average price of $9.65, for a total value of $78,821.20. Following the completion of the transaction, the general counsel owned 630,398 shares of the company’s stock, valued at $6,083,340.70. This represents a 1.28% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at 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. Also, CEO Patrick Miles acquired 115,000 shares of the company’s stock in a transaction dated Thursday, September 10th. The stock was acquired at an average cost of $8.81 per share, with a total value of $1,013,150.00. Following the purchase, the chief executive officer owned 5,893,551 shares of the company’s stock, valued at approximately $51,922,184.31. This trade represents a 1.99% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Corporate insiders own 13.48% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in ATEC. Paradigm Capital Management Inc. NY bought a new stake in shares of Alphatec in the 2nd quarter valued at approximately $9,413,000. Bank of America Corp DE raised its holdings in Alphatec by 26.9% during the 1st quarter. Bank of America Corp DE now owns 2,560,971 shares of the medical technology company’s stock valued at $27,863,000 after buying an additional 543,059 shares during the period. Bank of New York Mellon Corp purchased a new stake in Alphatec during the 2nd quarter valued at $3,092,000. Great Lakes Advisors LLC bought a new stake in Alphatec in the second quarter worth $2,423,000. Finally, Arrowstreet Capital Limited Partnership increased its position in Alphatec by 102.3% during the first quarter. Arrowstreet Capital Limited Partnership now owns 507,017 shares of the medical technology company’s stock valued at $5,516,000 after acquiring an additional 256,342 shares during the last quarter. 66.35% of the stock is owned by hedge funds and other institutional investors.

Alphatec Company Profile

Alphatec Holdings, Inc (NASDAQ: ATEC) is a medical technology company focused on the surgical treatment of spinal disorders. Through its Alphatec Spine business, the company develops and markets implants, biologics, instruments and procedural technologies designed to support spine surgery and improve patient outcomes.

Its product portfolio includes systems for spinal fusion and reconstruction, including interbody implants, fixation devices and navigation or imaging-enabled surgical solutions.