Stifel Nicolaus Cuts Alphatec (NASDAQ:ATEC) Price Target to $20.00

Alphatec (NASDAQ:ATEC) had its price objective lowered by Stifel Nicolaus from $24.00 to $20.00 in a report published on Monday,Benzinga reports. The firm currently has a buy rating on the medical technology company’s stock.

Other equities research analysts have also recently issued research reports about the stock. TD Cowen reiterated a “buy” rating on shares of Alphatec in a research report on Tuesday, January 27th. Lake Street Capital restated a “buy” rating on shares of Alphatec in a research report on Wednesday, February 25th. Piper Sandler reiterated an “overweight” rating on shares of Alphatec in a report on Wednesday, February 25th. Wall Street Zen raised shares of Alphatec from a “hold” rating to a “buy” rating in a report on Saturday, January 31st. Finally, HC Wainwright restated a “buy” rating and set a $24.00 price objective on shares of Alphatec in a research report on Monday, January 12th. Ten analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $22.82.

Alphatec Price Performance

Shares of Alphatec stock opened at $12.66 on Monday. The company has a market capitalization of $1.92 billion, a price-to-earnings ratio of -13.33 and a beta of 1.02. The company has a quick ratio of 1.28, a current ratio of 2.06 and a debt-to-equity ratio of 40.35. The stock’s 50-day simple moving average is $15.45 and its 200-day simple moving average is $16.93. Alphatec has a 52 week low of $8.81 and a 52 week high of $23.29.

Alphatec (NASDAQ:ATEC) last released its earnings results on Tuesday, February 24th. The medical technology company reported $0.06 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.04 by $0.02. The business had revenue of $212.93 million for the quarter, compared to analysts’ expectations of $212.67 million. During the same quarter in the prior year, the business posted ($0.23) EPS. The business’s revenue for the quarter was up 20.4% compared to the same quarter last year. As a group, analysts expect that Alphatec will post -1.08 earnings per share for the current fiscal year.

Insider Transactions at Alphatec

In other Alphatec news, CEO Patrick Miles sold 100,000 shares of the company’s stock in a transaction that occurred on Monday, January 5th. The stock was sold at an average price of $21.01, for a total transaction of $2,101,000.00. Following the sale, the chief executive officer directly owned 5,135,398 shares in the company, valued at $107,894,711.98. This represents a 1.91% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, EVP David Sponsel sold 60,425 shares of the business’s stock in a transaction that occurred on Thursday, February 5th. The shares were sold at an average price of $13.79, for a total value of $833,260.75. Following the transaction, the executive vice president directly owned 349,500 shares in the company, valued at approximately $4,819,605. This represents a 14.74% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 672,885 shares of company stock worth $11,340,223 in the last quarter. Company insiders own 20.90% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of 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. bought a new position in Alphatec during the 2nd quarter valued at about $37,000. Northwestern Mutual Wealth Management Co. grew its holdings in Alphatec by 157.1% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 2,571 shares of the medical technology company’s stock valued at $54,000 after purchasing an additional 1,571 shares during the last quarter. 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 bought a new stake in Alphatec in the third quarter worth about $74,000. 66.35% of the stock is owned by hedge funds and other institutional investors.

About Alphatec

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.