Alphatec (NASDAQ:ATEC) Rating Lowered to “Hold” at Wall Street Zen

Alphatec (NASDAQ:ATEC) was downgraded by investment analysts at Wall Street Zen from a “buy” rating to a “hold” rating in a research note issued to investors on Friday.

Other equities research analysts have also recently issued research reports about the company. Needham & Company LLC reissued a “buy” rating and set a $22.00 target price on shares of Alphatec in a report on Monday, January 12th. Piper Sandler reissued an “overweight” rating and issued a $25.00 price objective (up previously from $20.00) on shares of Alphatec in a research note on Friday, October 31st. Weiss Ratings restated a “sell (e+)” rating on shares of Alphatec in a report on Monday, December 29th. Loop Capital set a $25.00 target price on Alphatec in a research note on Wednesday, December 10th. Finally, HC Wainwright reiterated a “buy” rating and issued a $24.00 price target on shares of Alphatec in a research report on Monday, January 12th. Nine equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $22.82.

Alphatec Price Performance

ATEC stock traded down $0.18 during trading on Friday, hitting $15.62. The company had a trading volume of 2,183,912 shares, compared to its average volume of 3,425,887. The business has a 50 day moving average of $20.12 and a 200 day moving average of $16.75. The firm has a market capitalization of $2.32 billion, a price-to-earnings ratio of -15.02 and a beta of 1.01. The company has a current ratio of 1.99, a quick ratio of 1.24 and a debt-to-equity ratio of 43.02. Alphatec has a fifty-two week low of $8.81 and a fifty-two week high of $23.29.

Alphatec (NASDAQ:ATEC) last released its quarterly earnings results on Thursday, October 30th. The medical technology company reported $0.03 EPS for the quarter, topping analysts’ consensus estimates of ($0.06) by $0.09. The company had revenue of $196.50 million for the quarter, compared to the consensus estimate of $182.78 million. The firm’s quarterly revenue was up 30.4% compared to the same quarter last year. During the same quarter last year, the firm posted ($0.28) earnings per share. As a group, research analysts predict that Alphatec will post -1.08 earnings per share for the current year.

Insider Activity at Alphatec

In other news, CEO Patrick Miles sold 100,000 shares of the business’s stock in a transaction that occurred on 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 owned 5,135,398 shares in the company, valued at $107,894,711.98. The trade was a 1.91% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, COO Scott Lish sold 19,900 shares of the company’s stock in a transaction that occurred on Tuesday, December 16th. The shares were sold at an average price of $19.64, for a total transaction of $390,836.00. Following the completion of the sale, the chief operating officer owned 641,432 shares of the company’s stock, valued at approximately $12,597,724.48. This trade represents a 3.01% decrease in their position. The SEC filing for this sale provides additional information. In the last ninety days, insiders sold 3,333,342 shares of company stock valued at $68,683,781. Corporate insiders own 20.90% of the company’s stock.

Hedge Funds Weigh In On Alphatec

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Aster Capital Management DIFC Ltd purchased a new stake in shares of Alphatec in the third quarter valued at $34,000. Osterweis Capital Management Inc. purchased a new position in shares of Alphatec during the second quarter valued at $37,000. Nisa Investment Advisors LLC raised its position in Alphatec by 22.4% during the second quarter. Nisa Investment Advisors LLC now owns 5,714 shares of the medical technology company’s stock valued at $63,000 after buying an additional 1,045 shares during the period. China Universal Asset Management Co. Ltd. purchased a new stake in Alphatec in the 3rd quarter worth about $73,000. Finally, FNY Investment Advisers LLC acquired a new stake in Alphatec during the 3rd quarter worth about $74,000. 66.35% of the stock is currently owned by hedge funds and other institutional investors.

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.