Alphatec (NASDAQ:ATEC) Rating Lowered to Hold at Wall Street Zen

Alphatec (NASDAQ:ATEC) was downgraded by analysts at Wall Street Zen from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Saturday.

Several other research analysts have also recently weighed in on ATEC. Piper Sandler restated an “overweight” rating and issued a $25.00 price objective (up from $20.00) on shares of Alphatec in a research report on Friday, October 31st. Wells Fargo & Company boosted their price target on shares of Alphatec from $14.00 to $16.00 and gave the stock an “overweight” rating in a research note on Thursday, October 16th. Needham & Company LLC raised their price objective on shares of Alphatec from $16.00 to $22.00 and gave the company a “buy” rating in a research report on Friday, October 31st. Morgan Stanley set a $23.00 target price on shares of Alphatec in a research report on Tuesday, December 2nd. Finally, Canaccord Genuity Group raised their price target on Alphatec from $20.00 to $25.00 and gave the company a “buy” rating in a research report on Friday, October 31st. 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. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $22.20.

Alphatec Stock Performance

Shares of Alphatec stock opened at $21.45 on Friday. The firm has a market capitalization of $3.19 billion, a price-to-earnings ratio of -20.63 and a beta of 1.08. Alphatec has a one year low of $8.69 and a one year high of $22.66. The business has a 50-day simple moving average of $17.79 and a 200 day simple moving average of $14.84. The company has a debt-to-equity ratio of 43.02, a current ratio of 1.99 and a quick ratio of 1.24.

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

Insiders Place Their Bets

In other news, General Counsel Tyson Eliot Marshall sold 70,000 shares of the business’s stock in a transaction dated Thursday, November 20th. The stock was sold at an average price of $19.51, for a total value of $1,365,700.00. Following the completion of the sale, the general counsel owned 368,331 shares of the company’s stock, valued at approximately $7,186,137.81. The trade was a 15.97% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, major shareholder Jennifer N. Pritzker sold 250,000 shares of the firm’s stock in a transaction that occurred on Monday, November 24th. The stock was sold at an average price of $20.62, for a total value of $5,155,000.00. Following the transaction, the insider owned 10,895,045 shares in the company, valued at approximately $224,655,827.90. The trade was a 2.24% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 2,467,500 shares of company stock valued at $48,531,664 over the last three months. 22.80% of the stock is currently owned by company insiders.

Institutional Trading of Alphatec

A number of institutional investors have recently made changes to their positions in ATEC. Nuveen LLC bought a new stake in Alphatec during the 1st quarter valued at $135,874,000. Vanguard Group Inc. increased its position in shares of Alphatec by 2.4% in the third quarter. Vanguard Group Inc. now owns 6,815,058 shares of the medical technology company’s stock valued at $99,091,000 after acquiring an additional 158,295 shares during the period. American Century Companies Inc. raised its stake in shares of Alphatec by 2.6% during the third quarter. American Century Companies Inc. now owns 6,336,491 shares of the medical technology company’s stock valued at $92,133,000 after acquiring an additional 159,330 shares during the last quarter. Royal Bank of Canada boosted its holdings in shares of Alphatec by 10.8% during the first quarter. Royal Bank of Canada now owns 3,527,939 shares of the medical technology company’s stock worth $35,773,000 after purchasing an additional 342,656 shares during the period. Finally, Geode Capital Management LLC grew its stake in shares of Alphatec by 7.4% in the second quarter. Geode Capital Management LLC now owns 2,697,541 shares of the medical technology company’s stock worth $29,946,000 after purchasing an additional 185,297 shares during the last quarter. Hedge funds and other institutional investors own 66.35% of the company’s stock.

About Alphatec

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.