Alphatec (NASDAQ:ATEC) Downgraded by Wall Street Zen to “Hold”

Wall Street Zen lowered shares of Alphatec (NASDAQ:ATEC) from a buy rating to a hold rating in a report published on Sunday,Wall Street Zen reports.

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

Alphatec Price Performance

Shares of ATEC opened at $10.67 on Friday. The stock has a market capitalization of $1.65 billion, a price-to-earnings ratio of -15.03 and a beta of 0.78. Alphatec has a 1 year low of $6.82 and a 1 year high of $23.29. The business’s 50 day simple moving average is $9.82 and its 200-day simple moving average is $9.42.

Alphatec (NASDAQ:ATEC) last announced its quarterly earnings results on Tuesday, August 4th. The medical technology company reported $0.07 EPS for the quarter, meeting analysts’ consensus estimates of $0.07. Alphatec had a negative net margin of 13.49% and a negative return on equity of 6,752.24%. The firm had revenue of $213.51 million during the quarter, compared to the consensus estimate of $211.26 million. During the same quarter last year, the firm earned $0.02 EPS. The firm’s revenue for the quarter was up 15.1% compared to the same quarter last year. On average, sell-side analysts expect that Alphatec will post -0.45 earnings per share for the current year.

Insider Transactions at Alphatec

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

Hedge funds have recently modified their holdings of the stock. Summit Securities Group LLC acquired a new position in shares of Alphatec in the first quarter worth $29,000. Integrated Wealth Concepts LLC acquired a new stake in shares of Alphatec in the second quarter valued at $52,000. Allworth Financial LP boosted its holdings in Alphatec by 82.6% in the second quarter. Allworth Financial LP now owns 6,666 shares of the medical technology company’s stock valued at $58,000 after purchasing an additional 3,015 shares during the period. Atlas Brown Inc. acquired a new position in Alphatec during the 2nd quarter worth $111,000. Finally, Lido Advisors LLC purchased a new stake in Alphatec during the 1st quarter worth about $115,000. Hedge funds and other institutional investors own 66.35% of the company’s stock.

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.