Alphatec (NASDAQ:ATEC) Upgraded at Wall Street Zen

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

Other research analysts have also recently issued reports about the company. Loop Capital set a $25.00 price target on Alphatec in a research report on Wednesday, December 10th. JPMorgan Chase & Co. started coverage on Alphatec in a research note on Friday, October 24th. They set an “overweight” rating and a $19.00 price objective on the stock. Needham & Company LLC reissued a “buy” rating and issued a $22.00 target price on shares of Alphatec in a research note on Monday, January 12th. Weiss Ratings reiterated a “sell (e+)” rating on shares of Alphatec in a research note on Monday, December 29th. Finally, Morgan Stanley set a $23.00 price objective on shares of Alphatec in a research note on Tuesday, December 2nd. Ten equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $22.82.

Alphatec Stock Down 2.3%

Shares of ATEC stock opened at $14.49 on Friday. The firm’s fifty day moving average price is $19.53 and its two-hundred day moving average price is $17.00. 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 1 year low of $8.81 and a 1 year high of $23.29. The firm has a market capitalization of $2.15 billion, a P/E ratio of -13.93 and a beta of 1.01.

Insiders Place Their Bets

In other Alphatec news, Director David R. Pelizzon sold 250,000 shares of the stock in a transaction on Tuesday, December 16th. The stock was sold at an average price of $19.66, for a total transaction of $4,915,000.00. Following the transaction, the director owned 10,395,045 shares in the company, valued at $204,366,584.70. This trade represents a 2.35% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Patrick Miles sold 100,000 shares of the business’s stock in a transaction dated 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 completion of the sale, the chief executive officer directly owned 5,135,398 shares of the company’s stock, valued at approximately $107,894,711.98. The trade was a 1.91% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 2,933,342 shares of company stock worth $60,928,781 over the last three months. 22.80% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Alphatec

Hedge funds and other institutional investors have recently made changes to their positions in the business. Aster Capital Management DIFC Ltd acquired a new stake in shares of Alphatec during the 3rd quarter worth $34,000. Osterweis Capital Management Inc. acquired a new stake in Alphatec during the second quarter worth about $37,000. Nisa Investment Advisors LLC increased its holdings in Alphatec by 22.4% in the 2nd 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. acquired a new position in shares of Alphatec in the 3rd quarter valued at approximately $73,000. Finally, FNY Investment Advisers LLC bought a new stake in shares of Alphatec during the 3rd quarter worth approximately $74,000. 66.35% of the stock is currently owned by institutional investors and hedge funds.

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.