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

Alphatec (NASDAQ:ATEC) was upgraded by BMO Capital Markets to a “strong-buy” rating in a report issued on Wednesday,Zacks.com reports.

ATEC has been the topic of a number of other research reports. Piper Sandler reaffirmed an “overweight” rating and set a $14.00 price objective (down from $25.00) on shares of Alphatec in a report on Wednesday, May 6th. TD Cowen reduced their target price on Alphatec from $20.00 to $11.00 and set a “buy” rating on the stock in a research note on Wednesday, May 6th. Stifel Nicolaus lowered their price target on shares of Alphatec from $16.00 to $13.00 and set a “buy” rating for the company in a report on Wednesday. Canaccord Genuity Group lowered their price objective on Alphatec from $25.00 to $23.00 and set a “buy” rating for the company in a research report on Wednesday, May 6th. Finally, Wells Fargo & Company cut their price target on shares of Alphatec from $28.00 to $14.00 and set an “overweight” rating on the stock in a research note on Thursday, May 7th. One research 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 given a Sell rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $17.46.

Alphatec Stock Performance

NASDAQ:ATEC opened at $9.51 on Wednesday. The firm has a market cap of $1.46 billion, a price-to-earnings ratio of -11.60 and a beta of 0.85. The firm’s fifty day moving average price is $8.36 and its 200 day moving average price is $12.28. The company has a debt-to-equity ratio of 40.35, a current ratio of 1.90 and a quick ratio of 1.12. Alphatec has a 1-year low of $6.82 and a 1-year high of $23.29.

Insider Transactions at Alphatec

In related news, Director Karen K. Mcginnis sold 6,050 shares of Alphatec stock in a transaction 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 sale, the director owned 94,671 shares of the company’s stock, valued at $758,314.71. The trade was a 6.01% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. 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 company insiders.

Hedge Funds Weigh In On Alphatec

Institutional investors have recently made changes to their positions in the business. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in Alphatec by 4.5% during the 1st 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 bought a new position 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 shares of 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 worth $2,696,000 after acquiring an additional 41,264 shares during the period. Quantbot Technologies LP acquired a new stake in shares of Alphatec in the second quarter valued at approximately $242,000. Finally, Invesco Ltd. increased its position in Alphatec by 455.0% in the 2nd quarter. Invesco Ltd. now owns 282,212 shares of the medical technology company’s stock valued at $3,133,000 after acquiring an additional 231,367 shares during the period. 66.35% of the stock is owned by institutional investors and hedge funds.

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.