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

Key Points

• Alphatec's stock rating was upgraded from "hold" to "buy" by Wall Street Zen, reflecting increased confidence in the company's performance.
• Multiple analysts have also set optimistic price targets for Alphatec, with expectations ranging from $15.00 to $22.00, indicating a generally positive outlook.
• The company's quarterly earnings outperformed expectations, reporting $0.02 EPS compared to a consensus estimate of ($0.06), along with a revenue increase of 27.5% year-over-year.

Wall Street Zen upgraded shares of Alphatec (NASDAQ:ATEC - Free Report) from a hold rating to a buy rating in a report released on Saturday morning.

ATEC has been the subject of a number of other reports. Needham & Company LLC restated a "buy" rating and issued a $16.00 target price on shares of Alphatec in a research note on Friday, May 2nd. HC Wainwright restated a "buy" rating and issued a $20.00 target price on shares of Alphatec in a research note on Monday, April 14th. Piper Sandler restated an "overweight" rating and issued a $15.00 target price (up from $13.00) on shares of Alphatec in a research note on Friday, May 2nd. Canaccord Genuity Group restated a "buy" rating and issued a $20.00 target price on shares of Alphatec in a research note on Friday, August 1st. Finally, Lake Street Capital upgraded Alphatec to a "buy" rating and set a $18.00 target price for the company in a research note on Monday, June 16th. Seven investment analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company has a consensus rating of "Buy" and a consensus target price of $18.50.

Alphatec Price Performance

Alphatec stock traded up $0.11 during mid-day trading on Friday, hitting $15.83. 374,645 shares of the company were exchanged, compared to its average volume of 2,067,454. The company has a quick ratio of 1.77, a current ratio of 2.88 and a debt-to-equity ratio of 23.22. The business has a fifty day moving average of $11.75 and a 200 day moving average of $11.34. Alphatec has a 1-year low of $4.88 and a 1-year high of $15.94. The company has a market capitalization of $2.34 billion, a PE ratio of -14.07 and a beta of 1.05.

Alphatec (NASDAQ:ATEC - Get Free Report) last released its quarterly earnings data on Thursday, July 31st. The medical technology company reported $0.02 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.06) by $0.08. Alphatec had a negative return on equity of 1,657.19% and a negative net margin of 24.33%. The firm had revenue of $185.54 million during the quarter, compared to analyst estimates of $178.85 million. During the same period in the prior year, the company posted ($0.29) earnings per share. The business's revenue for the quarter was up 27.5% compared to the same quarter last year. As a group, sell-side analysts expect that Alphatec will post -1.08 earnings per share for the current year.

Insider Buying and Selling at Alphatec

In other Alphatec news, EVP Craig E. Hunsaker sold 186,122 shares of the firm's stock in a transaction that occurred on Wednesday, June 4th. The shares were sold at an average price of $12.34, for a total value of $2,296,745.48. Following the transaction, the executive vice president directly owned 1,463,896 shares of the company's stock, valued at approximately $18,064,476.64. This trade represents a 11.28% 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 the SEC website. Also, COO Scott Lish sold 55,375 shares of the firm's stock in a transaction dated Monday, May 19th. The stock was sold at an average price of $13.00, for a total value of $719,875.00. Following the transaction, the chief operating officer owned 771,645 shares in the company, valued at approximately $10,031,385. This trade represents a 6.70% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 449,997 shares of company stock valued at $5,846,616. 22.80% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Alphatec

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Comerica Bank raised its position in shares of Alphatec by 66.8% during the fourth quarter. Comerica Bank now owns 3,116 shares of the medical technology company's stock worth $29,000 after purchasing an additional 1,248 shares during the period. Quarry LP raised its position in shares of Alphatec by 79.2% during the fourth quarter. Quarry LP now owns 5,374 shares of the medical technology company's stock worth $49,000 after purchasing an additional 2,375 shares during the period. Larson Financial Group LLC acquired a new stake in shares of Alphatec during the first quarter worth about $54,000. Nisa Investment Advisors LLC raised its position in shares of Alphatec by 22.4% during the second quarter. Nisa Investment Advisors LLC now owns 5,714 shares of the medical technology company's stock worth $63,000 after purchasing an additional 1,045 shares during the period. Finally, Lazard Asset Management LLC acquired a new stake in shares of Alphatec during the fourth quarter worth about $76,000. 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.