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

Alphatec (NASDAQ:ATEC) was upgraded by equities researchers at Stephens to a “strong-buy” rating in a research note issued on Thursday,Zacks.com reports.

A number of other research analysts also recently weighed in on the company. HC Wainwright reissued a “buy” rating and issued a $24.00 price objective on shares of Alphatec in a research note on Thursday, May 7th. Wall Street Zen cut Alphatec from a “buy” rating to a “hold” rating in a research report on Sunday, July 12th. Wells Fargo & Company dropped their price target on shares of Alphatec from $28.00 to $14.00 and set an “overweight” rating on the stock in a research report on Thursday, May 7th. Stifel Nicolaus reduced their price objective on shares of Alphatec from $16.00 to $13.00 and set a “buy” rating for the company in a research note on Wednesday, July 8th. Finally, Weiss Ratings upgraded shares of Alphatec from a “sell (e+)” rating to a “sell (d-)” rating in a report on Wednesday, May 6th. Two analysts have rated the stock with a Strong Buy rating, ten have given a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $17.29.

Alphatec Price Performance

NASDAQ ATEC opened at $8.21 on Thursday. Alphatec has a fifty-two week low of $6.82 and a fifty-two week high of $23.29. The stock’s 50-day moving average is $8.49 and its two-hundred day moving average is $11.43. The firm has a market cap of $1.26 billion, a P/E 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.

Insider Buying and Selling

In other news, Director Karen K. Mcginnis sold 6,050 shares of the company’s stock in a transaction that occurred on Thursday, June 11th. The stock was sold at an average price of $8.01, for a total transaction of $48,460.50. Following the completion of the transaction, the director directly owned 94,671 shares in the company, valued at $758,314.71. The trade was a 6.01% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 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. 13.48% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Alphatec

Several large investors have recently bought and sold shares of ATEC. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in Alphatec by 4.5% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 74,005 shares of the medical technology company’s stock worth $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 valued at about $257,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its stake 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 valued at $2,696,000 after buying an additional 41,264 shares during the period. Quantbot Technologies LP acquired a new stake in Alphatec during the second quarter worth about $242,000. Finally, Invesco Ltd. grew its position in Alphatec by 455.0% during the second quarter. Invesco Ltd. now owns 282,212 shares of the medical technology company’s stock worth $3,133,000 after buying an additional 231,367 shares in the last quarter. 66.35% of the stock is currently owned by institutional investors and hedge funds.

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.