Alphatec Holdings has undergone a transformation recently, thanks to its new management team. It is now operating as an innovative procedurally-driven spine company. Due to these changes and an affordable $4.45 share price, shareholders may significantly profit in the coming months.
Northland Capital’s analyst, Jason Wittes, noted that the restructuring included the sale of the stock’s international business. The company has also shifted away from lower-end distributors associated with lower profit and controversial Physician-Owned Distributors. All of this has enabled Alphatec Holdings to build strong R&D and sales teams, along with attracting Key Opinion Leaders. Wittes thinks that that, combined with a highly differentiated product portfolio, means Alphatec is now in a position for significant growth.
The company has given its product portfolio a major face-lift during its two-year transformational period. According to Wittes, they unveiled 12 products in 2019 alone, and they designed each around specific spinal fusion approaches.
One of the firm’s products is SafeOP – the company’s new nerve monitoring platform, which has the unique ability to monitor nerve health in real-time, not just its position, for reproducibility and safety, especially when it comes to minimally invasive lateral procedures, as there is no direct visualization of the nerves in such procedures.
Furthermore, Alphatec Holdings plans to launch its Prone Transposes lateral procedure at the North American Spinal Society annual meeting in November. PTP reflects a new approach to lateral fusions and, as such, involves placing the patient in a prone position (stomach) instead of on their side.
Considering all these facts, Wittes rated the stock as a Buy rating, giving it a $9 price target. If the target is met, shares could skyrocket by 100% higher in the next twelve months.
Other analysts agree with Wittes as well, giving this stock a Strong Buy rating. The average price target is $8.38. This implies 85% growth over the year.
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