Alphatec Holdings, the Healthcare sector company, was revisited by a Wall Street analyst today. Analyst Josh Jennings from TD Cowen maintained a Buy rating on the stock and has a $20.00 price target.
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Josh Jennings has given his Buy rating due to a combination of factors that, in his view, are not fully reflected in current market expectations. He argues that Alphatec’s spine portfolio stands out in a crowded field because it is built around specific procedures and continues to gain traction with both new and existing surgeons. He also emphasizes that Alphatec is one of a small number of spine companies still committing meaningful capital to innovation while simultaneously delivering faster, profitable revenue growth than peers.
Beyond the current lateral surgery strength, Jennings points to upcoming contributors such as cervical and deformity offerings, enabling technologies like EOS and Valence, and international expansion as key drivers for the next several years. He expects these areas to increase case complexity and revenue per procedure, while enabling tech adoption should create attractive pull‑through economics and a richer margin mix. Taken together, he believes Alphatec can continue to expand EBITDA margins toward the mid‑20% range or better at scale, supporting both earnings growth and potential valuation multiple expansion, which underpins his Buy rating and $20 price target despite the reduction from the prior level.
In another report released on January 20, Lake Street also maintained a Buy rating on the stock with a $25.00 price target.