Alphatec (NASDAQ:ATEC) Upgraded at Wall Street Zen

Key Points

• Alphatec (NASDAQ: ATEC) has been upgraded from a "hold" rating to a "buy" rating by Wall Street Zen, indicating positive future expectations for the company's stock.
• Alphatec has reported a revenue increase of 27.5% year-over-year, achieving $185.54 million in its latest quarterly earnings, significantly exceeding consensus estimates.
• Several analysts have set price targets for Alphatec, with Canaccord Genuity stating a target of $20.00, while Barclays and Lake Street Capital set their targets at $22.00 and $18.00, respectively.

Alphatec (NASDAQ:ATEC - Get Free Report) was upgraded by investment analysts at Wall Street Zen from a "hold" rating to a "buy" rating in a research report issued to clients and investors on Sunday.

A number of other brokerages also recently weighed in on ATEC. Barclays reissued an "overweight" rating and issued a $22.00 price objective (up from $21.00) on shares of Alphatec in a research note on Monday, August 4th. Lake Street Capital upgraded Alphatec to a "buy" rating and set a $18.00 price objective on the stock in a research report on Monday, June 16th. Finally, Canaccord Genuity Group reaffirmed a "buy" rating and issued a $20.00 price target on shares of Alphatec in a research note on Friday, August 1st. Six research analysts have rated the stock with a Buy rating, According to MarketBeat, Alphatec has a consensus rating of "Buy" and a consensus target price of $18.50.

Alphatec Stock Down 2.4%

Shares of ATEC traded down $0.37 during midday trading on Friday, reaching $15.26. 1,736,713 shares of the stock were exchanged, compared to its average volume of 1,980,824. Alphatec has a 12-month low of $4.88 and a 12-month high of $16.70. The firm has a 50 day simple moving average of $13.85 and a 200-day simple moving average of $12.08. 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 company has a market cap of $2.26 billion, a price-to-earnings ratio of -13.50 and a beta of 1.02.

Alphatec (NASDAQ:ATEC - Get Free Report) last issued its quarterly earnings data on Thursday, July 31st. The medical technology company reported $0.02 earnings per share for the quarter, beating analysts' consensus estimates 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 business had revenue of $185.54 million for the quarter, compared to the consensus estimate of $178.85 million. During the same period last year, the business earned ($0.29) EPS. The firm's revenue was up 27.5% compared to the same quarter last year. Alphatec has set its FY 2025 guidance at EPS. Research analysts forecast that Alphatec will post -1.08 EPS for the current year.

Insider Buying and Selling

In other news, Director Mortimer Berkowitz III sold 62,500 shares of the company's stock in a transaction dated Tuesday, September 9th. The stock was sold at an average price of $15.97, for a total transaction of $998,125.00. Following the completion of the transaction, the director directly owned 618,050 shares of the company's stock, valued at $9,870,258.50. This represents a 9.18% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, COO Scott Lish sold 6,323 shares of the company's stock in a transaction dated Thursday, August 21st. The stock was sold at an average price of $16.01, for a total value of $101,231.23. Following the transaction, the chief operating officer directly owned 658,707 shares of the company's stock, valued at $10,545,899.07. This represents a 0.95% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 546,057 shares of company stock valued at $8,326,072. 20.90% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the stock. Osaic Holdings Inc. boosted its position in Alphatec by 22.3% during the second quarter. Osaic Holdings Inc. now owns 36,242 shares of the medical technology company's stock valued at $402,000 after purchasing an additional 6,616 shares during the last quarter. Squarepoint Ops LLC boosted its position in Alphatec by 24.0% during the second quarter. Squarepoint Ops LLC now owns 239,870 shares of the medical technology company's stock valued at $2,663,000 after purchasing an additional 46,349 shares during the last quarter. State of Wyoming acquired a new position in Alphatec during the second quarter valued at approximately $124,000. Tower Research Capital LLC TRC boosted its position in Alphatec by 536.4% during the second quarter. Tower Research Capital LLC TRC now owns 14,815 shares of the medical technology company's stock valued at $164,000 after purchasing an additional 12,487 shares during the last quarter. Finally, Captrust Financial Advisors boosted its position in Alphatec by 337.5% during the second quarter. Captrust Financial Advisors now owns 49,195 shares of the medical technology company's stock valued at $546,000 after purchasing an additional 37,950 shares during the last quarter. 66.35% of the stock is owned by institutional investors and hedge funds.

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.