Stifel Nicolaus Has Lowered Expectations for Alphatec (NASDAQ:ATEC) Stock Price

Alphatec (NASDAQ:ATEC) had its price target lowered by research analysts at Stifel Nicolaus from $24.00 to $20.00 in a research report issued on Monday,Benzinga reports. The firm presently 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.

Several other analysts also recently weighed in on the company. Piper Sandler restated an “overweight” rating on shares of Alphatec in a research note on Wednesday, February 25th. Loop Capital set a $25.00 target price on Alphatec in a report on Wednesday, December 10th. Wall Street Zen upgraded Alphatec from a “hold” rating to a “buy” rating in a report on Saturday, January 31st. Barclays lifted their price target on Alphatec from $23.00 to $27.00 and gave the stock an “overweight” rating in a research report on Wednesday, January 7th. Finally, Morgan Stanley set a $23.00 price target on shares of Alphatec in a research note on Tuesday, December 2nd. Ten investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $22.82.

Alphatec Stock Down 2.7%

Shares of Alphatec stock opened at $12.23 on Monday. Alphatec has a 1 year low of $8.81 and a 1 year high of $23.29. The firm has a market cap of $1.85 billion, a price-to-earnings ratio of -12.87 and a beta of 1.02. The company has a 50-day moving average of $15.94 and a 200 day moving average of $17.01. The company has a debt-to-equity ratio of 40.35, a current ratio of 2.06 and a quick ratio of 1.28.

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

Insider Activity

In other Alphatec news, Director David M. Demski sold 30,000 shares of the business’s stock in a transaction dated Thursday, December 11th. The stock was sold at an average price of $21.20, for a total value of $636,000.00. Following the completion of the transaction, the director owned 399,623 shares of the company’s stock, valued at approximately $8,472,007.60. The trade was a 6.98% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Patrick Miles sold 100,000 shares of the firm’s stock in a transaction dated Monday, January 5th. The shares were sold at an average price of $21.01, for a total transaction of $2,101,000.00. Following the sale, the chief executive officer directly owned 5,135,398 shares in the company, valued at approximately $107,894,711.98. The trade was a 1.91% decrease in their position. The SEC filing for this sale provides additional information. Over the last 90 days, insiders sold 637,875 shares of company stock valued at $12,362,614. Corporate insiders own 22.80% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the stock. Vanguard Group Inc. boosted its holdings in Alphatec by 1.0% in the fourth quarter. Vanguard Group Inc. now owns 6,883,626 shares of the medical technology company’s stock worth $144,831,000 after purchasing an additional 68,568 shares during the last quarter. American Century Companies Inc. lifted its holdings in shares of Alphatec by 2.6% during the 3rd quarter. American Century Companies Inc. now owns 6,336,491 shares of the medical technology company’s stock valued at $92,133,000 after buying an additional 159,330 shares during the period. Morgan Stanley boosted its stake in shares of Alphatec by 22.0% in the 4th quarter. Morgan Stanley now owns 4,340,936 shares of the medical technology company’s stock worth $91,333,000 after buying an additional 784,191 shares during the last quarter. State Street Corp grew its holdings in shares of Alphatec by 6.4% in the fourth quarter. State Street Corp now owns 2,889,240 shares of the medical technology company’s stock worth $60,790,000 after acquiring an additional 174,287 shares during the period. Finally, Geode Capital Management LLC increased its position in Alphatec by 1.2% during the fourth quarter. Geode Capital Management LLC now owns 2,828,026 shares of the medical technology company’s stock valued at $59,511,000 after acquiring an additional 32,465 shares during the last quarter. 66.35% of the stock is owned by hedge funds and other 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.