Alphatec (ATEC) Rating Increased to Hold at Zacks Investment Research

Zacks Investment Research upgraded shares of Alphatec (NASDAQ:ATEC) from a sell rating to a hold rating in a research note issued to investors on Monday morning, Zacks.com reports.

According to Zacks, “Alphatec Holdings, Inc. is a medical technology company focused on the design, development, manufacturing and marketing of products for the surgical treatment of spine disorders. The Company’s principal product offering includes a variety of spinal implant products and systems consisted of components, such as spine screws and rods, spinal spacers, plates, and various biologics offerings. Alphatec Holdings, Inc. is headquartered in Carlsbad, California. “

Separately, HC Wainwright reiterated a buy rating and issued a $4.00 price target on shares of Alphatec in a research note on Monday, January 14th.

Shares of ATEC stock opened at $4.44 on Monday. Alphatec has a 12 month low of $1.18 and a 12 month high of $4.79. The firm has a market cap of $208.05 million, a PE ratio of -7.66 and a beta of 1.52. The company has a current ratio of 2.31, a quick ratio of 1.53 and a debt-to-equity ratio of 4.79.

Alphatec (NASDAQ:ATEC) last announced its earnings results on Thursday, May 9th. The medical technology company reported ($0.20) EPS for the quarter, meeting the Zacks’ consensus estimate of ($0.20). Alphatec had a negative net margin of 42.16% and a negative return on equity of 156.32%. The firm had revenue of $24.56 million for the quarter, compared to analysts’ expectations of $24.00 million. As a group, analysts expect that Alphatec will post -0.62 earnings per share for the current year.

In other news, EVP Kelli Mari Howell purchased 100,000 shares of the company’s stock in a transaction that occurred on Monday, March 11th. The shares were bought at an average price of $2.59 per share, for a total transaction of $259,000.00. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Craig E. Hunsaker sold 50,000 shares of the company’s stock in a transaction dated Wednesday, May 15th. The stock was sold at an average price of $4.50, for a total transaction of $225,000.00. The disclosure for this sale can be found here. Insiders own 44.40% of the company’s stock.

A number of institutional investors have recently made changes to their positions in the stock. BlueCrest Capital Management Ltd bought a new position in Alphatec in the 1st quarter worth about $91,000. HighTower Advisors LLC boosted its stake in Alphatec by 1.4% in the 1st quarter. HighTower Advisors LLC now owns 276,411 shares of the medical technology company’s stock worth $734,000 after purchasing an additional 3,935 shares in the last quarter. Bernzott Capital Advisors bought a new position in Alphatec in the 1st quarter worth about $45,000. Cerity Partners LLC boosted its stake in Alphatec by 350.5% in the 1st quarter. Cerity Partners LLC now owns 2,301,983 shares of the medical technology company’s stock worth $6,100,000 after purchasing an additional 1,791,023 shares in the last quarter. Finally, Fifth Third Bancorp bought a new position in Alphatec in the 1st quarter worth about $121,000. Institutional investors own 18.04% of the company’s stock.

About Alphatec

Alphatec Holdings, Inc, a medical technology company, focuses on the design, development, and promotion of products for the surgical treatment of spine disorders. Its product portfolio and pipeline address the cervical, thoracolumbar, and intervertebral regions of the spine; and cover various spinal disorders and surgical procedures.

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