Alphatec (NASDAQ:ATEC) Stock Rating Lowered by Wall Street Zen

Alphatec (NASDAQ:ATEC) was downgraded by investment analysts at Wall Street Zen from a “buy” rating to a “hold” rating in a report released on Sunday.

Several other brokerages also recently issued reports on ATEC. Piper Sandler reaffirmed an “overweight” rating and set a $14.00 price target (down from $25.00) on shares of Alphatec in a report on Wednesday, May 6th. Weiss Ratings raised shares of Alphatec from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Wednesday, May 6th. 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 research note on Wednesday. Lake Street Capital reaffirmed a “buy” rating and set a $15.00 target price on shares of Alphatec in a report on Wednesday, May 6th. Finally, TD Cowen decreased their price target on shares of Alphatec from $20.00 to $11.00 and set a “buy” rating on the stock in a research note on Wednesday, May 6th. One investment analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $17.46.

Alphatec Stock Performance

Shares of NASDAQ ATEC traded up $0.07 during midday trading on Friday, hitting $9.58. 1,513,709 shares of the company’s stock were exchanged, compared to its average volume of 3,179,758. The company has a quick ratio of 1.12, a current ratio of 1.90 and a debt-to-equity ratio of 40.35. Alphatec has a 12 month low of $6.82 and a 12 month high of $23.29. The company’s 50 day moving average price is $8.36 and its 200 day moving average price is $12.26. The firm has a market capitalization of $1.47 billion, a PE ratio of -11.68 and a beta of 0.85.

Insider Buying and Selling

In other Alphatec news, Director Karen K. Mcginnis sold 6,050 shares of the stock in a transaction on Thursday, June 11th. The stock was sold at an average price of $8.01, for a total transaction of $48,460.50. Following the transaction, the director owned 94,671 shares in the company, valued at $758,314.71. This trade represents a 6.01% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 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 currently owned by corporate insiders.

Institutional Investors Weigh In On Alphatec

A number of institutional investors have recently modified their holdings of ATEC. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in Alphatec by 4.5% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 74,005 shares of the medical technology company’s stock worth $750,000 after purchasing an additional 3,196 shares in the last quarter. Dynamic Technology Lab Private Ltd acquired a new position in shares of Alphatec during the 1st quarter worth approximately $257,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its holdings in shares of Alphatec by 18.4% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 265,907 shares of the medical technology company’s stock worth $2,696,000 after purchasing an additional 41,264 shares during the period. Quantbot Technologies LP bought a new position in shares of Alphatec during the second quarter worth approximately $242,000. Finally, Invesco Ltd. raised its position in shares of Alphatec by 455.0% in the second quarter. Invesco Ltd. now owns 282,212 shares of the medical technology company’s stock valued at $3,133,000 after buying an additional 231,367 shares in the last quarter. 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.