Alphatec (NASDAQ:ATEC) Rating Increased to Strong-Buy at UBS Group

UBS Group upgraded shares of Alphatec (NASDAQ:ATEC) to a strong-buy rating in a research report released on Tuesday,Zacks.com reports.

Several other research firms have also recently commented on ATEC. Barclays cut their price target on Alphatec from $27.00 to $24.00 and set an “overweight” rating on the stock in a research note on Thursday, May 7th. Wells Fargo & Company lowered their price objective on Alphatec from $28.00 to $14.00 and set an “overweight” rating for the company in a research note on Thursday, May 7th. Needham & Company LLC dropped their price objective on Alphatec from $25.00 to $14.00 and set a “buy” rating on the stock in a report on Wednesday, May 6th. JPMorgan Chase & Co. cut their target price on Alphatec from $24.00 to $16.00 and set an “overweight” rating on the stock in a research report on Wednesday, May 6th. Finally, TD Cowen reduced their target price on Alphatec from $20.00 to $11.00 and set a “buy” rating for the company in a research note on Wednesday, May 6th. Two investment analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $17.13.

Alphatec Stock Performance

NASDAQ:ATEC opened at $9.32 on Tuesday. The firm has a 50-day moving average of $8.54 and a two-hundred day moving average of $11.15. The company has a debt-to-equity ratio of 40.35, a current ratio of 1.90 and a quick ratio of 1.12. The stock has a market cap of $1.43 billion, a P/E ratio of -11.37 and a beta of 0.85. Alphatec has a 1-year low of $6.82 and a 1-year high of $23.29.

Insiders Place Their Bets

In other Alphatec news, Director Karen K. Mcginnis sold 6,050 shares of the stock in a transaction on Thursday, June 11th. The shares were sold at an average price of $8.01, for a total transaction of $48,460.50. Following the sale, the director directly owned 94,671 shares of the company’s stock, valued at approximately $758,314.71. This represents a 6.01% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 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.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of the business. Universal Beteiligungs und Servicegesellschaft mbH bought a new position in Alphatec in the fourth quarter worth about $3,691,000. Tudor Investment Corp ET AL grew its holdings in shares of Alphatec by 608.4% during the third quarter. Tudor Investment Corp ET AL now owns 900,491 shares of the medical technology company’s stock valued at $13,093,000 after purchasing an additional 773,367 shares during the last quarter. Aberdeen Group plc raised its position in shares of Alphatec by 29.7% during the 4th quarter. Aberdeen Group plc now owns 1,286,195 shares of the medical technology company’s stock worth $27,062,000 after purchasing an additional 294,792 shares during the period. Pier Capital LLC acquired a new stake in shares of Alphatec during the 4th quarter worth approximately $4,835,000. Finally, Jefferies Financial Group Inc. lifted its holdings in shares of Alphatec by 983.5% in the 4th quarter. Jefferies Financial Group Inc. now owns 595,937 shares of the medical technology company’s stock worth $12,539,000 after purchasing an additional 540,937 shares during the last quarter. 66.35% of the stock is owned by institutional investors and hedge funds.

Alphatec Company Profile

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.