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

by · The Markets Daily

Alphatec (NASDAQ:ATEC – Get Free Report) was upgraded by equities research analysts at Wall Street Zen from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Saturday, Wall Street Zen reports.

Several other analysts also recently commented on the company. Stifel Nicolaus lowered their price objective on Alphatec from $16.00 to $13.00 and set a “buy” rating for the company in a research note on Wednesday, July 8th. Stephens began coverage on Alphatec in a report on Thursday, July 23rd. They set an “overweight” rating and a $15.00 price target for the company. TD Cowen increased their price target on Alphatec from $11.00 to $13.00 and gave the company a “buy” rating in a research report on Wednesday, August 5th. UBS Group raised their price objective on Alphatec from $15.00 to $16.00 and gave the company a “buy” rating in a research note on Wednesday, August 5th. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of Alphatec in a research note on Monday, August 3rd. Thirteen analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $17.40.

Get Our Latest Report on ATEC

Alphatec Price Performance

Shares of NASDAQ:ATEC opened at $10.03 on Friday. Alphatec has a twelve month low of $6.82 and a twelve month high of $23.29. The stock’s 50 day moving average is $9.70 and its 200-day moving average is $9.49. The firm has a market capitalization of $1.55 billion, a price-to-earnings ratio of -14.13 and a beta of 0.78.

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

Insider Transactions at Alphatec

In other Alphatec news, CEO Patrick Miles acquired 115,000 shares of the company’s stock in a transaction on Thursday, September 10th. The shares were acquired at an average cost 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 in the company, valued at $51,922,184.31. This trade represents a 1.99% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, General Counsel Tyson Marshall sold 8,168 shares of Alphatec stock in a transaction dated 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 $6,083,340.70. The trade was a 1.28% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 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 Investors Weigh In On Alphatec

Several institutional investors have recently made changes to their positions in ATEC. Integrated Wealth Concepts LLC purchased a new position in shares of Alphatec in the second quarter valued at $52,000. Allworth Financial LP increased its holdings in Alphatec by 82.6% during the 2nd quarter. Allworth Financial LP now owns 6,666 shares of the medical technology company’s stock worth $58,000 after acquiring an additional 3,015 shares during the period. VIRGINIA RETIREMENT SYSTEMS ET Al bought a new stake in Alphatec during the 2nd quarter worth approximately $218,000. FirstWave Capital Management LLC purchased a new stake in Alphatec in the 2nd quarter worth approximately $1,244,000. Finally, Paradigm Capital Management Inc. NY purchased a new stake in Alphatec in the 2nd quarter worth approximately $9,413,000. Hedge funds and other institutional investors own 66.35% of the company’s stock.

Alphatec Company Profile

(Get Free Report)

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.

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