Alphatec (NASDAQ:ATEC) Rating Increased to Strong-Buy at BMO Capital Markets

BMO Capital Markets upgraded shares of Alphatec (NASDAQ:ATEC) to a strong-buy rating in a research note issued to investors on Wednesday morning,Zacks.com reports.

A number of other research firms have also weighed in on ATEC. Stifel Nicolaus cut their target price on shares of Alphatec from $16.00 to $13.00 and set a “buy” rating for the company in a report on Wednesday. HC Wainwright reiterated a “buy” rating and set a $24.00 price objective on shares of Alphatec in a research report on Thursday, May 7th. Piper Sandler reiterated an “overweight” rating and set a $14.00 price objective (down from $25.00) on shares of Alphatec in a research report on Wednesday, May 6th. Needham & Company LLC dropped their price objective on shares of Alphatec from $25.00 to $14.00 and set a “buy” rating for the company in a research note on Wednesday, May 6th. Finally, Barclays reduced their target price on shares of Alphatec from $27.00 to $24.00 and set an “overweight” rating on the stock in a report on Thursday, May 7th. One research analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $17.46.

Alphatec Price Performance

Shares of Alphatec stock opened at $9.51 on Wednesday. The stock has a 50 day moving average of $8.36 and a 200 day moving average of $12.28. Alphatec has a 12 month low of $6.82 and a 12 month high of $23.29. The firm has a market cap of $1.46 billion, a PE ratio of -11.60 and a beta of 0.85. The company has a current ratio of 1.90, a quick ratio of 1.12 and a debt-to-equity ratio of 40.35.

Insider Buying and Selling

In other news, Director Karen K. Mcginnis sold 6,050 shares of the firm’s stock in a transaction that occurred on Thursday, June 11th. The shares were sold at an average price of $8.01, for a total transaction of $48,460.50. Following the transaction, the director directly owned 94,671 shares of the company’s stock, valued at approximately $758,314.71. This trade represents a 6.01% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. 13.48% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the company. Summit Securities Group LLC purchased a new position in Alphatec during the 1st quarter worth $29,000. Osterweis Capital Management Inc. purchased a new stake in shares of Alphatec in the 2nd quarter worth $37,000. Northwestern Mutual Wealth Management Co. lifted its holdings in shares of Alphatec by 157.1% in the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 2,571 shares of the medical technology company’s stock worth $54,000 after buying an additional 1,571 shares during the period. FNY Investment Advisers LLC bought a new position in shares of Alphatec during the 3rd quarter worth $74,000. Finally, Atlas Brown Inc. purchased a new position in shares of Alphatec during the second quarter valued at $111,000. Institutional investors own 66.35% of the company’s stock.

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.