Alphatec (NASDAQ:ATEC) Now Covered by JPMorgan Chase & Co.

Equities researchers at JPMorgan Chase & Co. initiated coverage on shares of Alphatec (NASDAQ:ATEC) in a note issued to investors on Friday,Benzinga reports. The brokerage set an “overweight” rating and a $19.00 price target on the medical technology company’s stock. JPMorgan Chase & Co.‘s target price points to a potential upside of 19.57% from the company’s previous close.

Several other equities analysts have also issued reports on the company. Barclays reiterated an “overweight” rating and issued a $22.00 target price (up previously from $21.00) on shares of Alphatec in a research note on Monday, August 4th. Wells Fargo & Company lifted their target price on Alphatec from $14.00 to $16.00 and gave the company an “overweight” rating in a research note on Thursday, October 16th. Canaccord Genuity Group reiterated a “buy” rating and issued a $20.00 target price on shares of Alphatec in a research note on Friday, August 1st. Weiss Ratings reiterated a “sell (d-)” rating on shares of Alphatec in a research note on Tuesday, October 14th. Finally, Wall Street Zen upgraded Alphatec from a “hold” rating to a “buy” rating in a research note on Saturday, October 18th. Eight research analysts have rated the stock with a Buy rating and one has given a Sell rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $18.25.

Alphatec Stock Performance

Shares of Alphatec stock opened at $15.89 on Friday. The firm has a market cap of $2.35 billion, a P/E ratio of -14.06 and a beta of 1.05. The company has a current ratio of 2.88, a quick ratio of 1.77 and a debt-to-equity ratio of 23.22. Alphatec has a 12 month low of $5.14 and a 12 month high of $16.70. The stock’s fifty day moving average price is $15.16 and its 200-day moving average price is $12.93.

Alphatec (NASDAQ:ATEC) last posted its earnings results on Thursday, July 31st. The medical technology company reported $0.02 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.06) by $0.08. The company had revenue of $185.54 million during the quarter, compared to analysts’ expectations of $178.85 million. During the same quarter last year, the firm earned ($0.29) EPS. Alphatec’s revenue for the quarter was up 27.5% on a year-over-year basis. Alphatec has set its FY 2025 guidance at EPS. On average, equities research analysts expect that Alphatec will post -1.08 earnings per share for the current fiscal year.

Insider Transactions at Alphatec

In related news, EVP Craig E. Hunsaker sold 10,876 shares of the company’s stock in a transaction that occurred on Wednesday, August 6th. The stock was sold at an average price of $15.33, for a total value of $166,729.08. Following the sale, the executive vice president owned 1,389,142 shares in the company, valued at $21,295,546.86. This represents a 0.78% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Mortimer Berkowitz III sold 62,500 shares of the company’s stock in a transaction that occurred on Tuesday, September 9th. The shares were sold at an average price of $15.97, for a total value of $998,125.00. Following the completion of the sale, the director owned 618,050 shares in the company, valued at approximately $9,870,258.50. This represents a 9.18% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 780,575 shares of company stock valued at $11,769,527 over the last quarter. Company insiders own 20.90% of the company’s stock.

Institutional Investors Weigh In On Alphatec

A number of large investors have recently bought and sold shares of the company. Wealth Enhancement Advisory Services LLC boosted its position in Alphatec by 301.0% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 59,987 shares of the medical technology company’s stock worth $608,000 after purchasing an additional 45,027 shares in the last quarter. Oppenheimer Asset Management Inc. boosted its position in Alphatec by 13.4% in the 1st quarter. Oppenheimer Asset Management Inc. now owns 13,144 shares of the medical technology company’s stock worth $133,000 after purchasing an additional 1,552 shares in the last quarter. AQR Capital Management LLC boosted its position in Alphatec by 7.6% in the 1st quarter. AQR Capital Management LLC now owns 676,897 shares of the medical technology company’s stock worth $6,864,000 after purchasing an additional 47,939 shares in the last quarter. Northern Trust Corp boosted its position in Alphatec by 3.4% in the 1st quarter. Northern Trust Corp now owns 1,049,469 shares of the medical technology company’s stock worth $10,642,000 after purchasing an additional 34,726 shares in the last quarter. Finally, Voya Investment Management LLC boosted its position in Alphatec by 60.1% in the 1st quarter. Voya Investment Management LLC now owns 49,561 shares of the medical technology company’s stock worth $503,000 after purchasing an additional 18,605 shares in 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.