Alphatec (NASDAQ:ATEC) Given New $20.00 Price Target at Stifel Nicolaus

Alphatec (NASDAQ:ATEC) had its price objective cut by research analysts at Stifel Nicolaus from $24.00 to $20.00 in a research report issued to clients and investors on Monday,Benzinga reports. The brokerage currently has a “buy” rating on the medical technology company’s stock. Stifel Nicolaus’ price objective would indicate a potential upside of 63.53% from the stock’s previous close.

Other equities research analysts have also issued reports about the company. Wall Street Zen upgraded Alphatec from a “hold” rating to a “buy” rating in a research note on Saturday, January 31st. Lake Street Capital restated a “buy” rating on shares of Alphatec in a research report on Wednesday, February 25th. TD Cowen reaffirmed a “buy” rating on shares of Alphatec in a research report on Tuesday, January 27th. Morgan Stanley set a $23.00 target price on shares of Alphatec in a report on Tuesday, December 2nd. Finally, Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Alphatec in a report on Monday, December 29th. Ten research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $22.82.

Alphatec Stock Performance

Shares of NASDAQ ATEC opened at $12.23 on Monday. Alphatec has a 12-month low of $8.81 and a 12-month high of $23.29. The firm has a market capitalization of $1.85 billion, a price-to-earnings ratio of -12.87 and a beta of 1.02. The company has a current ratio of 2.06, a quick ratio of 1.28 and a debt-to-equity ratio of 40.35. The firm has a 50 day moving average of $15.94 and a 200 day moving average of $17.01.

Alphatec (NASDAQ:ATEC) last released its quarterly earnings results on Tuesday, February 24th. The medical technology company reported $0.06 earnings per share for the quarter, topping the consensus estimate of $0.04 by $0.02. The business had revenue of $212.93 million during the quarter, compared to the consensus estimate of $212.67 million. The firm’s revenue was up 20.4% on a year-over-year basis. During the same quarter in the previous year, the business posted ($0.23) earnings per share. On average, research analysts anticipate that Alphatec will post -1.08 earnings per share for the current year.

Insider Activity

In other Alphatec news, EVP Craig E. Hunsaker sold 37,358 shares of the company’s stock in a transaction that occurred on Tuesday, February 3rd. The stock was sold at an average price of $14.71, for a total value of $549,536.18. Following the completion of the transaction, the executive vice president directly owned 1,173,025 shares in the company, valued at $17,255,197.75. This represents a 3.09% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director David R. Pelizzon sold 250,000 shares of Alphatec stock in a transaction that occurred on Tuesday, December 16th. The shares were sold at an average price of $19.66, for a total transaction of $4,915,000.00. Following the sale, the director owned 10,395,045 shares in the company, valued at approximately $204,366,584.70. The trade was a 2.35% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 637,875 shares of company stock valued at $12,362,614 in the last three months. 22.80% of the stock is currently owned by insiders.

Institutional Trading of Alphatec

A number of institutional investors and hedge funds have recently bought and sold shares of ATEC. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in shares of Alphatec by 4.5% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 74,005 shares of the medical technology company’s stock valued at $750,000 after purchasing an additional 3,196 shares during the last quarter. Dynamic Technology Lab Private Ltd bought a new stake in shares of Alphatec in the first quarter worth about $257,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its position in shares of Alphatec by 18.4% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 265,907 shares of the medical technology company’s stock worth $2,696,000 after buying an additional 41,264 shares in the last quarter. Teacher Retirement System of Texas lifted its position in shares of Alphatec by 12.3% in the second quarter. Teacher Retirement System of Texas now owns 17,447 shares of the medical technology company’s stock worth $194,000 after buying an additional 1,912 shares in the last quarter. Finally, Bank of Montreal Can boosted its stake in Alphatec by 545.7% during the second quarter. Bank of Montreal Can now owns 743,041 shares of the medical technology company’s stock valued at $8,248,000 after buying an additional 627,973 shares during the last quarter. 66.35% of the stock is currently owned by institutional investors.

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.