Alphatec (NASDAQ:ATEC) Stock Rating Upgraded by BMO Capital Markets

Alphatec (NASDAQ:ATEC) was upgraded by equities researchers at BMO Capital Markets to a “strong-buy” rating in a report released on Wednesday,Zacks.com reports.

ATEC has been the topic of several other reports. Stifel Nicolaus lowered their price objective on shares of Alphatec from $16.00 to $13.00 and set a “buy” rating on the stock in a research report on Wednesday. HC Wainwright restated a “buy” rating and issued a $24.00 target price on shares of Alphatec in a report on Thursday, May 7th. Weiss Ratings raised Alphatec from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Wednesday, May 6th. TD Cowen lowered their price target on Alphatec from $20.00 to $11.00 and set a “buy” rating on the stock in a report on Wednesday, May 6th. Finally, Barclays dropped their price target on Alphatec from $27.00 to $24.00 and set an “overweight” rating on the stock in a research report on Thursday, May 7th. One equities research analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating, one has given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, Alphatec currently has a consensus rating of “Moderate Buy” and an average target price of $17.46.

Alphatec Stock Up 3.3%

ATEC stock opened at $9.51 on Wednesday. Alphatec has a 52-week low of $6.82 and a 52-week high of $23.29. The company’s 50 day simple moving average is $8.36 and its 200-day simple moving average is $12.28. The company has a debt-to-equity ratio of 40.35, a current ratio of 1.90 and a quick ratio of 1.12. The firm has a market capitalization of $1.46 billion, a P/E ratio of -11.60 and a beta of 0.85.

Insider Activity at Alphatec

In related news, Director Karen K. Mcginnis sold 6,050 shares of the business’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 value of $48,460.50. Following the completion of the sale, the director owned 94,671 shares of the company’s stock, valued at approximately $758,314.71. The trade was a 6.01% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through 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. Insiders own 13.48% of the company’s stock.

Hedge Funds Weigh In On Alphatec

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Summit Securities Group LLC acquired a new stake in Alphatec in the first quarter valued at approximately $29,000. Osterweis Capital Management Inc. acquired a new position in shares of Alphatec during the 2nd quarter worth $37,000. Northwestern Mutual Wealth Management Co. raised its holdings in shares of Alphatec by 157.1% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 2,571 shares of the medical technology company’s stock valued at $54,000 after purchasing an additional 1,571 shares in the last quarter. FNY Investment Advisers LLC bought a new position in shares of Alphatec during the 3rd quarter valued at $74,000. Finally, Atlas Brown Inc. bought a new position in shares of Alphatec during the 2nd quarter valued at $111,000. Institutional investors 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.