Alphatec (NASDAQ:ATEC) Price Target Cut to $13.00 by Analysts at Stifel Nicolaus

Alphatec (NASDAQ:ATEC) had its price objective cut by analysts at Stifel Nicolaus from $16.00 to $13.00 in a research note issued on Wednesday,Benzinga reports. The firm currently has a “buy” rating on the medical technology company’s stock. Stifel Nicolaus’ price objective suggests a potential upside of 45.72% from the company’s current price.

Several other research firms have also issued reports on ATEC. Piper Sandler reaffirmed an “overweight” rating and issued a $14.00 price target (down from $25.00) on shares of Alphatec in a report on Wednesday, May 6th. Canaccord Genuity Group lowered their price target on shares of Alphatec from $25.00 to $23.00 and set a “buy” rating on the stock in a report on Wednesday, May 6th. Needham & Company LLC lowered their price target on shares of Alphatec from $25.00 to $14.00 and set a “buy” rating on the stock in a report on Wednesday, May 6th. Barclays reduced their target price on Alphatec from $27.00 to $24.00 and set an “overweight” rating for the company in a research note on Thursday, May 7th. Finally, Lake Street Capital reissued a “buy” rating and set a $15.00 target price on shares of Alphatec in a report on Wednesday, May 6th. Ten analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, Alphatec presently has a consensus rating of “Moderate Buy” and a consensus target price of $18.00.

Alphatec Trading Down 4.9%

ATEC opened at $8.92 on Wednesday. Alphatec has a 52 week low of $6.82 and a 52 week high of $23.29. The stock’s fifty day moving average is $8.38 and its two-hundred day moving average is $12.42. The company has a market capitalization of $1.37 billion, a P/E ratio of -10.94 and a beta of 0.85. The company has a quick ratio of 1.12, a current ratio of 1.90 and a debt-to-equity ratio of 40.35.

Insider Transactions at Alphatec

In related news, Director Karen K. Mcginnis sold 6,050 shares of the business’s stock in a transaction dated Thursday, June 11th. The shares were sold at an average price of $8.01, for a total transaction of $48,460.50. Following the sale, the director owned 94,671 shares of the company’s stock, valued at approximately $758,314.71. The trade was a 6.01% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at 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. Insiders own 13.48% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in Alphatec by 4.5% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 74,005 shares of the medical technology company’s stock valued at $750,000 after acquiring an additional 3,196 shares during the last quarter. Dynamic Technology Lab Private Ltd purchased a new stake in Alphatec during the 1st quarter worth $257,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its holdings in Alphatec by 18.4% in the 1st 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 valued at $2,696,000 after purchasing an additional 41,264 shares in the last quarter. Quantbot Technologies LP purchased a new position in Alphatec in the second quarter valued at about $242,000. Finally, Invesco Ltd. boosted 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 worth $3,133,000 after buying an additional 231,367 shares during the period. 66.35% of the stock is currently owned by institutional investors and hedge funds.

About Alphatec

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.