Alphatec (NASDAQ:ATEC) Stock Rating Raised to Buy at Wall Street Zen

Wall Street Zen upgraded shares of Alphatec (NASDAQ:ATEC) from a hold rating to a buy rating in a research note issued to investors on Saturday morning,Wall Street Zen reports.

Several other brokerages have also recently weighed in on ATEC. TD Cowen increased their price objective on shares of Alphatec from $11.00 to $13.00 and gave the stock a “buy” rating in a research note on Wednesday, August 5th. Stifel Nicolaus reduced their target price on shares of Alphatec from $16.00 to $13.00 and set a “buy” rating for the company in a report on Wednesday, July 8th. UBS Group upped their target price on shares of Alphatec from $15.00 to $16.00 and gave the company a “buy” rating in a report on Wednesday, August 5th. BMO Capital Markets increased their price target on shares of Alphatec from $11.00 to $12.00 and gave the stock an “outperform” rating in a research report on Wednesday, August 5th. Finally, Stephens assumed coverage on shares of Alphatec in a research note on Thursday, July 23rd. They set an “overweight” rating and a $15.00 price target on the stock. Thirteen investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $17.40.

Alphatec Price Performance

NASDAQ ATEC opened at $10.03 on Friday. The stock has a market capitalization of $1.55 billion, a price-to-earnings ratio of -14.13 and a beta of 0.78. Alphatec has a 1-year low of $6.82 and a 1-year high of $23.29. The business’s fifty day moving average price is $9.70 and its 200-day moving average price is $9.51.

Alphatec (NASDAQ:ATEC) last announced its earnings results on Tuesday, August 4th. The medical technology company reported $0.07 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.07. The business had revenue of $213.51 million for the quarter, compared to analysts’ expectations of $211.26 million. Alphatec had a negative return on equity of 6,752.24% and a negative net margin of 13.49%.The business’s revenue for the quarter was up 15.1% on a year-over-year basis. During the same period last year, the firm posted $0.02 earnings per share. Equities research analysts anticipate that Alphatec will post -0.45 EPS for the current year.

Insider Buying and Selling

In other news, CEO Patrick Miles purchased 115,000 shares of the stock in a transaction on Thursday, September 10th. The shares were acquired at an average price of $8.81 per share, with a total value of $1,013,150.00. Following the completion of the acquisition, the chief executive officer directly owned 5,893,551 shares of the company’s stock, valued at $51,922,184.31. This trade represents a 1.99% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, General Counsel Tyson Marshall sold 8,168 shares of the company’s stock in a transaction that occurred on Wednesday, August 5th. The stock was sold at an average price of $9.65, for a total transaction of $78,821.20. Following the completion of the transaction, the general counsel owned 630,398 shares of the company’s stock, valued at approximately $6,083,340.70. The trade was a 1.28% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 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.

Institutional Trading of Alphatec

Institutional investors and hedge funds have recently modified their holdings of the company. Rhenman & Partners Asset Management AB raised its holdings in shares of Alphatec by 11.1% in the 4th quarter. Rhenman & Partners Asset Management AB now owns 20,000 shares of the medical technology company’s stock valued at $421,000 after purchasing an additional 2,000 shares in the last quarter. Diversified Trust Co boosted its stake in shares of Alphatec by 17.6% during the first quarter. Diversified Trust Co now owns 14,876 shares of the medical technology company’s stock valued at $162,000 after purchasing an additional 2,227 shares in the last quarter. Intech Investment Management LLC boosted its stake in shares of Alphatec by 4.2% during the fourth quarter. Intech Investment Management LLC now owns 57,096 shares of the medical technology company’s stock valued at $1,201,000 after purchasing an additional 2,314 shares in the last quarter. SG Americas Securities LLC increased its holdings in Alphatec by 4.2% during the first quarter. SG Americas Securities LLC now owns 67,065 shares of the medical technology company’s stock valued at $730,000 after buying an additional 2,675 shares during the period. Finally, Summit Securities Group LLC purchased a new position in Alphatec during the first quarter valued at approximately $29,000. 66.35% of the stock is currently owned by institutional investors.

About Alphatec

Alphatec Holdings, Inc (NASDAQ: ATEC) is a medical technology company focused on the surgical treatment of spinal disorders. Through its Alphatec Spine business, the company develops and markets implants, biologics, instruments and procedural technologies designed to support spine surgery and improve patient outcomes.

Its product portfolio includes systems for spinal fusion and reconstruction, including interbody implants, fixation devices and navigation or imaging-enabled surgical solutions.