Alphatec (NASDAQ:ATEC) Downgraded by Wall Street Zen to “Hold”

Wall Street Zen downgraded shares of Alphatec (NASDAQ:ATEC) from a buy rating to a hold rating in a research report report published on Saturday morning.

Other research analysts have also recently issued reports about the stock. Barclays lifted their price objective on shares of Alphatec from $22.00 to $23.00 and gave the company an “overweight” rating in a research note on Monday, November 3rd. Lake Street Capital set a $25.00 price target on Alphatec and gave the company a “buy” rating in a research note on Friday, October 31st. Needham & Company LLC boosted their price target on Alphatec from $16.00 to $22.00 and gave the stock a “buy” rating in a report on Friday, October 31st. Piper Sandler reaffirmed an “overweight” rating and issued a $25.00 price objective (up from $20.00) on shares of Alphatec in a research note on Friday, October 31st. Finally, Weiss Ratings reiterated a “sell (e+)” rating on shares of Alphatec in a research report on Monday, December 1st. Nine equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $22.20.

Alphatec Stock Up 0.8%

Shares of NASDAQ ATEC opened at $21.45 on Friday. The stock has a market capitalization of $3.19 billion, a P/E ratio of -20.63 and a beta of 1.08. The stock’s fifty day moving average is $17.79 and its 200 day moving average is $14.82. Alphatec has a 52 week low of $8.69 and a 52 week high of $22.66. The company has a debt-to-equity ratio of 43.02, a quick ratio of 1.24 and a current ratio of 1.99.

Alphatec (NASDAQ:ATEC) last posted its quarterly earnings data on Thursday, October 30th. The medical technology company reported $0.03 earnings per share for the quarter, topping the consensus estimate of ($0.06) by $0.09. The firm had revenue of $196.50 million for the quarter, compared to the consensus estimate of $182.78 million. During the same period in the prior year, the company earned ($0.28) EPS. The company’s revenue for the quarter was up 30.4% compared to the same quarter last year. Sell-side analysts forecast that Alphatec will post -1.08 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, Director Jeffrey P. Rydin sold 200,000 shares of the firm’s stock in a transaction that occurred on Monday, November 3rd. The shares were sold at an average price of $19.32, for a total value of $3,864,000.00. Following the completion of the transaction, the director owned 385,441 shares in the company, valued at $7,446,720.12. This trade represents a 34.16% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, major shareholder Squadron Capital Llc sold 250,000 shares of Alphatec stock in a transaction that occurred on Wednesday, November 12th. The stock was sold at an average price of $20.80, for a total transaction of $5,200,000.00. Following the sale, the insider owned 11,145,045 shares in the company, valued at approximately $231,816,936. This represents a 2.19% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders have sold 2,467,500 shares of company stock worth $48,531,664. Company insiders own 20.90% of the company’s stock.

Hedge Funds Weigh In On Alphatec

A number of hedge funds have recently modified their holdings of ATEC. CIBC Bancorp USA Inc. acquired a new stake in Alphatec in the third quarter valued at $180,000. Oberweis Asset Management Inc. bought a new stake in shares of Alphatec in the 3rd quarter valued at about $6,705,000. Dark Forest Capital Management LP increased its stake in shares of Alphatec by 61.9% in the third quarter. Dark Forest Capital Management LP now owns 120,712 shares of the medical technology company’s stock valued at $1,755,000 after buying an additional 46,167 shares during the period. XTX Topco Ltd bought a new position in shares of Alphatec during the third quarter worth about $1,300,000. Finally, Voleon Capital Management LP acquired a new position in shares of Alphatec in the third quarter worth approximately $290,000. Institutional investors and hedge funds own 66.35% of the company’s stock.

Alphatec Company Profile

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.