Alphatec (NASDAQ:ATEC) Price Target Cut to $13.00 by Analysts at Stifel Nicolaus

Alphatec (NASDAQ:ATEC) had its price target reduced by equities research analysts at Stifel Nicolaus from $16.00 to $13.00 in a note issued to investors on Wednesday,Benzinga reports. The firm currently has a “buy” rating on the medical technology company’s stock. Stifel Nicolaus’ price target would suggest a potential upside of 45.72% from the company’s previous close.

ATEC has been the topic of a number of other reports. Lake Street Capital reiterated a “buy” rating and issued a $15.00 price objective on shares of Alphatec in a report on Wednesday, May 6th. Wells Fargo & Company dropped their price target on Alphatec from $28.00 to $14.00 and set an “overweight” rating on the stock in a research note on Thursday, May 7th. HC Wainwright restated a “buy” rating and set a $24.00 price objective on shares of Alphatec in a report on Thursday, May 7th. Barclays dropped their price objective on shares of Alphatec from $27.00 to $24.00 and set an “overweight” rating for the company in a research note on Thursday, May 7th. Finally, TD Cowen cut their target price on Alphatec from $20.00 to $11.00 and set a “buy” rating for the company in a research report on Wednesday, May 6th. Ten equities research 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. Based on data from MarketBeat, Alphatec presently has an average rating of “Moderate Buy” and a consensus price target of $18.00.

Alphatec Price Performance

Alphatec stock opened at $8.92 on Wednesday. The business has a 50-day moving average of $8.38 and a 200-day moving average of $12.42. Alphatec has a 1 year low of $6.82 and a 1 year high of $23.29. The firm has a market capitalization of $1.37 billion, a P/E ratio of -10.94 and a beta of 0.85. The company has a current ratio of 1.90, a quick ratio of 1.12 and a debt-to-equity ratio of 40.35.

Insider Transactions at Alphatec

In related news, Director Karen K. Mcginnis sold 6,050 shares of the company’s stock in a transaction that occurred on Thursday, June 11th. The stock was sold at an average price of $8.01, for a total value of $48,460.50. Following the transaction, the director owned 94,671 shares in the company, valued at approximately $758,314.71. This represents a 6.01% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 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 owned by company insiders.

Institutional Investors Weigh In On Alphatec

A number of large investors have recently added to or reduced their stakes in ATEC. Summit Securities Group LLC bought a new stake in Alphatec during the 1st quarter valued at approximately $29,000. Osterweis Capital Management Inc. bought a new position in shares of Alphatec in the 2nd quarter worth approximately $37,000. Northwestern Mutual Wealth Management Co. lifted its position in Alphatec by 157.1% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 2,571 shares of the medical technology company’s stock valued at $54,000 after purchasing an additional 1,571 shares in the last quarter. FNY Investment Advisers LLC purchased a new stake in shares of Alphatec in the third quarter worth $74,000. Finally, Lido Advisors LLC bought a new stake in Alphatec during the first quarter valued at about $115,000. 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 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.