Alphatec (NASDAQ:ATEC) Downgraded by UBS Group to Neutral

Alphatec (NASDAQ:ATEC) was downgraded by UBS Group from a “buy” rating to a “neutral” rating in a report released on Wednesday, Marketbeat Ratings reports. They currently have a $8.50 price target on the medical technology company’s stock. UBS Group‘s price target indicates a potential upside of 13.79% from the company’s previous close.

Other research analysts have also recently issued research reports about the company. BMO Capital Markets cut Alphatec from an “outperform” rating to a “market perform” rating and set a $8.00 target price for the company. in a research note on Friday, October 30th. Wall Street Zen cut shares of Alphatec from a “buy” rating to a “hold” rating in a research report on Sunday, October 11th. Wells Fargo & Company lowered their price objective on shares of Alphatec from $14.00 to $12.00 and set an “overweight” rating on the stock in a research note on Friday, October 30th. Needham & Company LLC cut their target price on shares of Alphatec from $14.00 to $12.00 and set a “buy” rating for the company in a research note on Friday. Finally, Canaccord Genuity Group reduced their target price on shares of Alphatec from $19.00 to $16.00 and set a “buy” rating for the company in a report on Friday, October 30th. Eleven equities research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $15.63.

Alphatec Price Performance

ATEC opened at $7.47 on Wednesday. The business has a 50 day moving average price of $10.06 and a two-hundred day moving average price of $10.53. The company has a market capitalization of $1.16 billion, a price-to-earnings ratio of -13.58 and a beta of 0.88. Alphatec has a 1-year low of $6.81 and a 1-year high of $23.29.

Alphatec (NASDAQ:ATEC) last issued its quarterly earnings results on Thursday, October 29th. The medical technology company reported $0.09 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.10 by ($0.01). Alphatec had a negative net margin of 10.35% and a negative return on equity of 6,752.24%. The firm had revenue of $221.17 million for the quarter, compared to analyst estimates of $225.16 million. During the same quarter last year, the business posted $0.03 earnings per share. The firm’s revenue for the quarter was up 12.6% compared to the same quarter last year. Equities analysts expect that Alphatec will post -0.45 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, CEO Patrick Miles acquired 115,000 shares of the business’s stock in a transaction on Thursday, September 10th. The shares were purchased at an average price of $8.81 per share, for a total transaction of $1,013,150.00. Following the acquisition, the chief executive officer owned 5,893,551 shares in the company, valued at approximately $51,922,184.31. This represents a 1.99% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director David M. Demski acquired 60,000 shares of Alphatec stock in a transaction on Friday, October 30th. The shares were purchased at an average cost of $6.81 per share, with a total value of $408,600.00. Following the completion of the purchase, the director directly owned 491,635 shares of the company’s stock, valued at approximately $3,348,034.35. This represents a 13.90% increase in their position. The disclosure for this purchase is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 13.48% of the company’s stock.

Institutional Investors Weigh In On Alphatec

A number of large investors have recently made changes to their positions in ATEC. Brighton Jones LLC purchased a new stake in shares of Alphatec in the third quarter valued at $142,000. Kestra Advisory Services LLC boosted its position in shares of Alphatec by 130.8% in the third quarter. Kestra Advisory Services LLC now owns 49,616 shares of the medical technology company’s stock worth $512,000 after buying an additional 28,114 shares during the period. Chicago Partners Investment Group LLC purchased a new position in shares of Alphatec during the third quarter valued at $112,000. State of Wyoming grew its holdings in shares of Alphatec by 87.7% during the third quarter. State of Wyoming now owns 30,666 shares of the medical technology company’s stock valued at $316,000 after buying an additional 14,328 shares in the last quarter. Finally, Sterling Capital Management LLC raised its position in Alphatec by 841.5% during the third quarter. Sterling Capital Management LLC now owns 4,105 shares of the medical technology company’s stock valued at $42,000 after buying an additional 3,669 shares during the period. Institutional investors and hedge funds own 66.35% of the company’s stock.

Key Headlines Impacting Alphatec

Here are the key news stories impacting Alphatec this week:

• Positive Sentiment: Director David Demski bought 60,000 shares for $408,600, increasing his direct holdings by 13.9% to 491,635 shares. The purchase may indicate confidence, though it was made under a pre-arranged Rule 10b5-1 plan. Insider purchase report
• Neutral Sentiment: Canaccord Genuity cut its price target from $19 to $16 but retained a “buy” rating, leaving substantial implied upside from recent levels while signaling a lower valuation outlook. Canaccord price target report
• Negative Sentiment: BMO Capital Markets downgraded ATEC to “Market Perform.” Wells Fargo also lowered its price target; other recent analyst target reductions add to cautious sentiment. BMO rating report Wells Fargo price target report
• Negative Sentiment: SueWallSt announced an investigation into potential securities claims involving Alphatec. The notice does not establish wrongdoing, but may add uncertainty for investors. Shareholder investigation announcement
• Negative Sentiment: Recent quarterly results missed analyst estimates for both earnings and revenue, despite 12.6% year-over-year revenue growth. Ongoing losses and the stock’s position near its 52-week low remain concerns.

Alphatec Company Profile

Alphatec Holdings, Inc is a medical technology company focused on the design, development and commercialization of products and procedural solutions for spine surgery. The company aims to improve the treatment of spinal disorders through technologies that support spinal fusion, deformity correction, reconstruction and minimally invasive procedures.

Its portfolio includes spinal implants, surgical instruments, navigation and imaging technologies, and intraoperative monitoring solutions.