Alphatec (NASDAQ:ATEC) Upgraded by Wall Street Zen to “Buy” Rating

Wall Street Zen upgraded shares of Alphatec (NASDAQ:ATEC) from a hold rating to a buy rating in a report released on Saturday.

ATEC has been the topic of a number of other research reports. Canaccord Genuity Group restated a “buy” rating and set a $20.00 price objective on shares of Alphatec in a research note on Friday, August 1st. Wells Fargo & Company boosted their price objective on Alphatec from $14.00 to $16.00 and gave the stock an “overweight” rating in a research note on Thursday. Barclays restated an “overweight” rating and set a $22.00 price objective (up previously from $21.00) on shares of Alphatec in a research note on Monday, August 4th. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of Alphatec in a research note on Tuesday, October 14th. Seven equities research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, Alphatec currently has an average rating of “Moderate Buy” and an average price target of $18.14.

Alphatec Trading Up 4.4%

Shares of ATEC opened at $14.89 on Friday. The stock’s 50-day moving average is $15.16 and its two-hundred day moving average is $12.80. The stock has a market cap of $2.20 billion, a PE ratio of -13.18 and a beta of 1.05. Alphatec has a 12 month low of $5.08 and a 12 month high of $16.70. The company has a debt-to-equity ratio of 23.22, a current ratio of 2.88 and a quick ratio of 1.77.

Alphatec (NASDAQ:ATEC) last issued its quarterly earnings data on Thursday, July 31st. The medical technology company reported $0.02 EPS for the quarter, topping analysts’ consensus estimates of ($0.06) by $0.08. The company had revenue of $185.54 million for the quarter, compared to analyst estimates of $178.85 million. The company’s revenue for the quarter was up 27.5% compared to the same quarter last year. During the same quarter in the prior year, the firm earned ($0.29) EPS. Alphatec has set its FY 2025 guidance at EPS. Equities analysts forecast that Alphatec will post -1.08 earnings per share for the current fiscal year.

Insider Activity

In other Alphatec news, Director Mortimer Berkowitz III sold 62,500 shares of the company’s stock in a transaction that occurred on Tuesday, September 9th. The stock was sold at an average price of $15.97, for a total transaction of $998,125.00. Following the sale, the director owned 618,050 shares in the company, valued at $9,870,258.50. This represents a 9.18% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CEO Patrick Miles sold 100,000 shares of the company’s stock in a transaction that occurred on Wednesday, October 1st. The shares were sold at an average price of $13.96, for a total value of $1,396,000.00. Following the sale, the chief executive officer owned 5,464,078 shares in the company, valued at $76,278,528.88. The trade was a 1.80% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 780,575 shares of company stock valued at $11,769,527 over the last three months. Company insiders own 20.90% of the company’s stock.

Institutional Trading of Alphatec

Several institutional investors and hedge funds have recently bought and sold shares of the company. Nuveen LLC acquired a new stake in Alphatec during the first quarter valued at approximately $135,874,000. American Century Companies Inc. grew its holdings in shares of Alphatec by 6.0% during the second quarter. American Century Companies Inc. now owns 6,177,161 shares of the medical technology company’s stock valued at $68,567,000 after purchasing an additional 347,130 shares during the last quarter. Vanguard Group Inc. grew its holdings in shares of Alphatec by 0.8% during the first quarter. Vanguard Group Inc. now owns 6,014,772 shares of the medical technology company’s stock valued at $60,990,000 after purchasing an additional 45,792 shares during the last quarter. Royal Bank of Canada grew its holdings in shares of Alphatec by 10.8% during the first quarter. Royal Bank of Canada now owns 3,527,939 shares of the medical technology company’s stock valued at $35,773,000 after purchasing an additional 342,656 shares during the last quarter. Finally, Geode Capital Management LLC grew its holdings in shares of Alphatec by 7.4% during the second quarter. Geode Capital Management LLC now owns 2,697,541 shares of the medical technology company’s stock valued at $29,946,000 after purchasing an additional 185,297 shares during the last quarter. Institutional investors and hedge funds own 66.35% of the company’s stock.

About Alphatec

Alphatec Holdings, Inc, a medical technology company, designs, develops, and advances technologies for the surgical treatment of spinal disorders in the United States and internationally. It manufactures and sells implants and instruments through third-party suppliers. The company offers Alpha InformatiX product platform, including EOS imaging system that provides full-body imaging; VEA alignment mobile application, which leverages EOS technology to more quickly quantify alignment parameters on a mobile device; SafeOp Neural InformatiX System that automates electromyographic and somatosensory evoked potential monitoring; and Valence, an intra-operative system that integrates navigation and robotics into spine procedures, as well as Sigma Prone TransPsoas (PTP) Access and PTP Patient Positioning Systems.