In a report released today, Josh Jennings from TD Cowen maintained a Buy rating on Alphatec Holdings, with a price target of $27.00.
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Josh Jennings has given his Buy rating due to a combination of factors that highlight Alphatec Holdings’ strong financial performance and growth potential. The company reported a remarkable 30% increase in revenue, significantly surpassing market expectations. This growth was driven by the success of their surgical revenue and the expansion of their user base, which indicates a promising trajectory for continued expansion.
Furthermore, Alphatec Holdings demonstrated impressive financial metrics with an adjusted EBITDA of $26 million, exceeding projections and showcasing a strong margin improvement. The company’s focus on procedural innovation and new product rollouts, such as in their deformity and cervical portfolios, underscores their strategic positioning for future growth. With a positive cash flow and a solid cash reserve, the company is well-positioned to capitalize on upcoming opportunities, justifying the Buy rating.
According to TipRanks, Jennings is a 2-star analyst with an average return of 0.6% and a 46.39% success rate. Jennings covers the Healthcare sector, focusing on stocks such as TransMedics Group, Medtronic, and Boston Scientific.
In another report released today, Lake Street also maintained a Buy rating on the stock with a $25.00 price target.