Alphatec (NASDAQ:ATEC) Rating Lowered to Neutral at UBS Group

Alphatec (NASDAQ:ATEC) was downgraded by equities research analysts at UBS Group from a “buy” rating to a “neutral” rating in a report released on Wednesday, MarketBeat Ratings reports. They currently have a $8.50 price target on the medical technology company’s stock. UBS Group‘s target price suggests a potential upside of 13.79% from the stock’s current price.

ATEC has been the topic of several other reports. JPMorgan Chase & Co. reduced their price objective on Alphatec from $16.00 to $15.00 and set an “overweight” rating on the stock in a research note on Friday, October 30th. Canaccord Genuity Group lowered their target price on shares of Alphatec from $19.00 to $16.00 and set a “buy” rating for the company in a research note on Friday, October 30th. Weiss Ratings reissued a “sell (d-)” rating on shares of Alphatec in a report on Friday. Needham & Company LLC dropped their target price on shares of Alphatec from $14.00 to $12.00 and set a “buy” rating on the stock in a report on Friday. Finally, Stifel Nicolaus reduced their price target on shares of Alphatec from $16.00 to $13.00 and set a “buy” rating on the stock in a research report on Wednesday, July 8th. Eleven investment analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, Alphatec presently has an average rating of “Moderate Buy” and a consensus price target of $15.63.

Alphatec Stock Up 2.2%

Shares of NASDAQ ATEC opened at $7.47 on Wednesday. The stock’s 50 day moving average price is $10.06 and its two-hundred day moving average price is $10.53. Alphatec has a 52-week low of $6.81 and a 52-week high of $23.29. The stock has a market capitalization of $1.16 billion, a P/E ratio of -13.58 and a beta of 0.88.

Alphatec (NASDAQ:ATEC) last issued its earnings results on Thursday, October 29th. The medical technology company reported $0.09 EPS for the quarter, missing the consensus estimate of $0.10 by ($0.01). Alphatec had a negative return on equity of 6,752.24% and a negative net margin of 10.35%. The firm had revenue of $221.17 million during the quarter, compared to analyst estimates of $225.16 million. During the same quarter in the previous year, the business posted $0.03 EPS. Alphatec’s revenue was up 12.6% compared to the same quarter last year. On average, analysts anticipate that Alphatec will post -0.45 EPS for the current year.

Insider Buying and Selling

In other Alphatec news, CEO Patrick Miles acquired 115,000 shares of Alphatec stock in a transaction dated Thursday, September 10th. The stock was acquired at an average cost of $8.81 per share, for a total transaction of $1,013,150.00. Following the completion of the transaction, the chief executive officer owned 5,893,551 shares in the company, valued at approximately $51,922,184.31. This represents a 1.99% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director David Demski acquired 60,000 shares of Alphatec stock in a transaction dated Friday, October 30th. The shares were acquired at an average price of $6.81 per share, with a total value of $408,600.00. Following the completion of the transaction, the director owned 491,635 shares of the company’s stock, valued at approximately $3,348,034.35. This trade represents a 13.90% increase in their position. The SEC filing for this purchase provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 13.48% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the business. Summit Securities Group LLC acquired a new position in shares of Alphatec during the first quarter valued at $29,000. Sterling Capital Management LLC lifted its holdings in Alphatec by 841.5% in the third quarter. Sterling Capital Management LLC now owns 4,105 shares of the medical technology company’s stock worth $42,000 after purchasing an additional 3,669 shares during the period. Integrated Wealth Concepts LLC bought a new position in Alphatec in the 2nd quarter valued at about $52,000. Allworth Financial LP grew its position in Alphatec by 82.6% in the 2nd quarter. Allworth Financial LP now owns 6,666 shares of the medical technology company’s stock valued at $58,000 after buying an additional 3,015 shares in the last quarter. Finally, Atlas Brown Inc. bought a new position in Alphatec in the 2nd quarter valued at about $111,000. Institutional investors and hedge funds own 66.35% of the company’s stock.

Key Alphatec News

Here are the key news stories impacting Alphatec this week:

• Positive Sentiment: Director David Demski bought 60,000 shares for $408,600, increasing his direct holdings by 13.9% to 491,635 shares. The purchase may indicate confidence, though it was made under a pre-arranged Rule 10b5-1 plan. Insider purchase report
• Neutral Sentiment: Canaccord Genuity cut its price target from $19 to $16 but retained a “buy” rating, leaving substantial implied upside from recent levels while signaling a lower valuation outlook. Canaccord price target report
• Negative Sentiment: BMO Capital Markets downgraded ATEC to “Market Perform.” Wells Fargo also lowered its price target; other recent analyst target reductions add to cautious sentiment. BMO rating report Wells Fargo price target report
• Negative Sentiment: SueWallSt announced an investigation into potential securities claims involving Alphatec. The notice does not establish wrongdoing, but may add uncertainty for investors. Shareholder investigation announcement
• Negative Sentiment: Recent quarterly results missed analyst estimates for both earnings and revenue, despite 12.6% year-over-year revenue growth. Ongoing losses and the stock’s position near its 52-week low remain concerns.

Alphatec Company Profile

Alphatec Holdings, Inc is a medical technology company focused on the design, development and commercialization of products and procedural solutions for spine surgery. The company aims to improve the treatment of spinal disorders through technologies that support spinal fusion, deformity correction, reconstruction and minimally invasive procedures.

Its portfolio includes spinal implants, surgical instruments, navigation and imaging technologies, and intraoperative monitoring solutions.