BMO Capital Markets Forecasts Strong Price Appreciation for Alphatec (NASDAQ:ATEC) Stock

Alphatec (NASDAQ:ATEC) had its target price raised by equities researchers at BMO Capital Markets from $11.00 to $12.00 in a research note issued on Wednesday, Marketbeat.com reports. The firm presently has an “outperform” rating on the medical technology company’s stock. BMO Capital Markets’ target price indicates a potential upside of 15.94% from the company’s previous close.

Other research analysts also recently issued reports about the company. Barclays cut their price target on Alphatec from $27.00 to $24.00 and set an “overweight” rating on the stock in a report on Thursday, May 7th. Wells Fargo & Company dropped their price objective on Alphatec from $28.00 to $14.00 and set an “overweight” rating on the stock in a research report on Thursday, May 7th. Stephens initiated coverage on Alphatec in a research note on Thursday, July 23rd. They issued an “overweight” rating and a $15.00 target price on the stock. Canaccord Genuity Group reduced their target price on shares of Alphatec from $25.00 to $23.00 and set a “buy” rating for the company in a report on Wednesday, May 6th. Finally, Needham & Company LLC decreased their price target on shares of Alphatec from $25.00 to $14.00 and set a “buy” rating for the company in a research report on Wednesday, May 6th. Thirteen research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $17.20.

Alphatec Price Performance

Shares of ATEC opened at $10.35 on Wednesday. The company has a debt-to-equity ratio of 40.35, a quick ratio of 1.12 and a current ratio of 1.90. The company has a 50 day moving average price of $8.70 and a 200-day moving average price of $10.83. Alphatec has a fifty-two week low of $6.82 and a fifty-two week high of $23.29. The stock has a market capitalization of $1.59 billion, a PE ratio of -12.62 and a beta of 0.85.

Alphatec (NASDAQ:ATEC) last issued its quarterly earnings data on Tuesday, August 4th. The medical technology company reported $0.07 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.07. The company had revenue of $213.51 million for the quarter, compared to analyst estimates of $211.26 million. Alphatec had a negative net margin of 15.93% and a negative return on equity of 1,183.84%. Alphatec’s revenue was up 15.1% compared to the same quarter last year. During the same period last year, the company posted $0.02 earnings per share. Equities analysts predict that Alphatec will post -0.44 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, Director Karen K. Mcginnis sold 6,050 shares of the company’s stock in a transaction dated Thursday, June 11th. The stock was sold at an average price of $8.01, for a total transaction of $48,460.50. Following the transaction, the director directly owned 94,671 shares of the company’s stock, valued at $758,314.71. This represents a 6.01% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. 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 company insiders.

Institutional Investors Weigh In On Alphatec

Institutional investors have recently added to or reduced their stakes in the business. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in shares of Alphatec by 4.5% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 74,005 shares of the medical technology company’s stock valued at $750,000 after acquiring an additional 3,196 shares in the last quarter. Dynamic Technology Lab Private Ltd acquired a new stake in Alphatec in the 1st quarter worth approximately $257,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its position in Alphatec by 18.4% during the 1st 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 purchasing an additional 41,264 shares during the last quarter. Quantbot Technologies LP purchased a new stake in Alphatec during the 2nd quarter worth approximately $242,000. Finally, Invesco Ltd. increased its stake in Alphatec by 455.0% during the 2nd quarter. Invesco Ltd. now owns 282,212 shares of the medical technology company’s stock valued at $3,133,000 after purchasing an additional 231,367 shares in the last quarter. Institutional investors and hedge funds own 66.35% of the company’s stock.

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.