Alphatec (NASDAQ:ATEC) Upgraded by UBS Group to “Strong-Buy” Rating

Alphatec (NASDAQ:ATEC) was upgraded by equities researchers at UBS Group to a “strong-buy” rating in a report released on Tuesday,Zacks.com reports.

Several other equities analysts have also recently commented on the stock. Barclays lowered their target price on shares of Alphatec from $27.00 to $24.00 and set an “overweight” rating on the stock in a research note on Thursday, May 7th. Lake Street Capital reaffirmed a “buy” rating and issued a $15.00 price target on shares of Alphatec in a research note on Wednesday, May 6th. Weiss Ratings upgraded shares of Alphatec from a “sell (e+)” rating to a “sell (d-)” rating in a report on Wednesday, May 6th. Piper Sandler reiterated an “overweight” rating and set a $14.00 price objective (down from $25.00) on shares of Alphatec in a research note on Wednesday, May 6th. Finally, BMO Capital Markets initiated coverage on Alphatec in a report on Wednesday, July 8th. They set an “outperform” rating and a $11.00 target price on the stock. Two research analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating, one has given a Hold rating and one has assigned 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 $17.13.

Alphatec Price Performance

Shares of NASDAQ ATEC opened at $9.32 on Tuesday. The stock has a market cap of $1.43 billion, a P/E ratio of -11.37 and a beta of 0.85. The firm’s 50-day simple moving average is $8.54 and its 200 day simple moving average is $11.15. Alphatec has a fifty-two week low of $6.82 and a fifty-two week high of $23.29. 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 other Alphatec 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 value of $48,460.50. Following the sale, the director directly owned 94,671 shares in the company, valued at approximately $758,314.71. The trade was a 6.01% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through 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 insiders.

Hedge Funds Weigh In On Alphatec

Several hedge funds have recently made changes to their positions in the business. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in Alphatec by 4.5% during 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 purchasing an additional 3,196 shares during the last quarter. Dynamic Technology Lab Private Ltd bought a new stake in Alphatec during the first quarter worth approximately $257,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its position in Alphatec by 18.4% in 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 buying an additional 41,264 shares during the last quarter. Quantbot Technologies LP acquired a new position in Alphatec in the second quarter worth approximately $242,000. Finally, Invesco Ltd. increased its holdings 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 and hedge funds own 66.35% of the company’s stock.

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.