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 Wall Street Zen from a "hold" rating to a "buy" rating in a research report issued to clients and investors on Sunday.

Other analysts also recently issued research reports about the stock. Canaccord Genuity Group reiterated a "buy" rating and issued a $20.00 target price on shares of Alphatec in a report on Friday, August 1st. Lake Street Capital upgraded shares of Alphatec to a "buy" rating and set a $18.00 price target for the company in a research report on Monday, June 16th. Finally, Barclays restated an "overweight" rating and set a $22.00 price target (up previously from $21.00) on shares of Alphatec in a research report on Monday, August 4th. Six investment analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, Alphatec has a consensus rating of "Buy" and an average target price of $18.50.

Alphatec Trading Up 1.4%

Alphatec stock traded up $0.22 during mid-day trading on Friday, hitting $15.57. 640,981 shares of the stock were exchanged, compared to its average volume of 2,068,723. The company has a quick ratio of 1.77, a current ratio of 2.88 and a debt-to-equity ratio of 23.22. Alphatec has a 12 month low of $4.88 and a 12 month high of $16.70. The firm's fifty day simple moving average is $13.67 and its two-hundred day simple moving average is $12.02. The stock has a market capitalization of $2.30 billion, a price-to-earnings ratio of -13.69 and a beta of 1.02.

Alphatec (NASDAQ:ATEC - Get Free Report) last released its quarterly earnings results 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. The firm had revenue of $185.54 million during the quarter, compared to analyst estimates of $178.85 million. Alphatec had a negative net margin of 24.33% and a negative return on equity of 1,657.19%. The company's revenue was up 27.5% compared to the same quarter last year. During the same quarter last year, the business earned ($0.29) EPS. Alphatec has set its FY 2025 guidance at EPS. Analysts forecast that Alphatec will post -1.08 EPS for the current year.

Insider Activity

In related news, General Counsel Tyson Eliot Marshall sold 18,092 shares of the firm's stock in a transaction that occurred on Tuesday, August 5th. The shares were sold at an average price of $14.91, for a total value of $269,751.72. Following the sale, the general counsel directly owned 438,331 shares of the company's stock, valued at $6,535,515.21. This trade represents a 3.96% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Patrick Miles sold 300,000 shares of the firm's stock in a transaction that occurred on Tuesday, September 2nd. The shares were sold at an average price of $15.73, for a total transaction of $4,719,000.00. Following the completion of the sale, the chief executive officer directly owned 5,564,078 shares in the company, valued at $87,522,946.94. This represents a 5.12% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 506,284 shares of company stock valued at $7,579,535. Corporate insiders own 20.90% of the company's stock.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the business. Comerica Bank increased its stake in shares of Alphatec by 66.8% in the fourth quarter. Comerica Bank now owns 3,116 shares of the medical technology company's stock worth $29,000 after buying an additional 1,248 shares during the period. Osterweis Capital Management Inc. bought a new stake in Alphatec in the second quarter valued at $37,000. Larson Financial Group LLC bought a new stake in Alphatec in the first quarter valued at $54,000. Nisa Investment Advisors LLC boosted its holdings in Alphatec by 22.4% in the second quarter. Nisa Investment Advisors LLC now owns 5,714 shares of the medical technology company's stock valued at $63,000 after acquiring an additional 1,045 shares in the last quarter. Finally, Lazard Asset Management LLC bought a new stake in Alphatec in the fourth quarter valued at $76,000. 66.35% of the stock is owned by hedge funds and other institutional investors.

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.