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

Alphatec (NASDAQ:ATEC) was downgraded by equities research analysts at Wall Street Zen from a “buy” rating to a “hold” rating in a research note issued on Sunday, Wall Street Zen reports.

Other research analysts have also recently issued reports about the stock. BMO Capital Markets raised their target price on shares of Alphatec from $11.00 to $12.00 and gave the stock an “outperform” rating in a report on Wednesday, August 5th. UBS Group lifted their price target on shares of Alphatec from $15.00 to $16.00 and gave the company a “buy” rating in a research report on Wednesday, August 5th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Alphatec in a research note on Monday, August 3rd. Stifel Nicolaus reduced their price target on Alphatec from $16.00 to $13.00 and set a “buy” rating on the stock in a research report on Wednesday, July 8th. Finally, Stephens assumed coverage on Alphatec in a research report on Thursday, July 23rd. They set an “overweight” rating and a $15.00 price target on the stock. Thirteen research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, Alphatec has a consensus rating of “Moderate Buy” and an average target price of $17.40.

Alphatec Stock Performance

Shares of Alphatec stock opened at $11.25 on Friday. The firm has a 50-day moving average of $9.84 and a 200-day moving average of $9.42. The stock has a market cap of $1.74 billion, a PE ratio of -15.85 and a beta of 0.78. Alphatec has a 52-week low of $6.82 and a 52-week high of $23.29.

Alphatec (NASDAQ:ATEC) last released its quarterly earnings results on Tuesday, August 4th. The medical technology company reported $0.07 EPS for the quarter, meeting the consensus estimate of $0.07. Alphatec had a negative net margin of 13.49% and a negative return on equity of 6,752.24%. The business had revenue of $213.51 million for the quarter, compared to the consensus estimate of $211.26 million. During the same period in the prior year, the company posted $0.02 earnings per share. Alphatec’s revenue was up 15.1% compared to the same quarter last year. Equities research analysts predict that Alphatec will post -0.45 earnings per share for the current fiscal year.

Insider Activity at Alphatec

In related news, General Counsel Tyson Marshall sold 8,168 shares of the company’s stock in a transaction that occurred on Wednesday, August 5th. The shares were sold at an average price of $9.65, for a total transaction of $78,821.20. Following the completion of the transaction, the general counsel directly owned 630,398 shares in the company, valued at $6,083,340.70. This represents a 1.28% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available 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. Also, CEO Patrick Miles acquired 115,000 shares of the company’s stock in a transaction that occurred on Thursday, September 10th. The stock was bought at an average cost of $8.81 per share, with a total value of $1,013,150.00. Following the purchase, the chief executive officer owned 5,893,551 shares in the company, valued at $51,922,184.31. The trade was a 1.99% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Insiders own 13.48% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the company. Summit Securities Group LLC acquired a new position in Alphatec in the first quarter valued at $29,000. Integrated Wealth Concepts LLC purchased a new stake in shares of Alphatec in the second quarter worth approximately $52,000. Allworth Financial LP boosted its holdings in Alphatec by 82.6% during the 2nd quarter. Allworth Financial LP now owns 6,666 shares of the medical technology company’s stock worth $58,000 after acquiring an additional 3,015 shares during the last quarter. Lido Advisors LLC purchased a new position in shares of Alphatec in the 1st quarter worth approximately $115,000. Finally, Park National Corp OH bought a new position in Alphatec in the 3rd quarter valued at $127,000. 66.35% of the stock is currently owned by institutional investors.

About Alphatec

Alphatec Holdings, Inc (NASDAQ: ATEC) is a medical technology company focused on the surgical treatment of spinal disorders. Through its Alphatec Spine business, the company develops and markets implants, biologics, instruments and procedural technologies designed to support spine surgery and improve patient outcomes.

Its product portfolio includes systems for spinal fusion and reconstruction, including interbody implants, fixation devices and navigation or imaging-enabled surgical solutions.