Brokerages Set Alphatec Holdings, Inc. (NASDAQ:ATEC) Price Target at $17.89

Shares of Alphatec Holdings, Inc. (NASDAQ:ATEC) have been assigned an average recommendation of “Moderate Buy” from the nine research firms that are presently covering the firm, Marketbeat Ratings reports. One research analyst has rated the stock with a hold rating and eight have issued a buy rating on the company. The average twelve-month price objective among brokers that have updated their coverage on the stock in the last year is $17.89.

Several brokerages recently weighed in on ATEC. Needham & Company LLC reaffirmed a “buy” rating and issued a $16.00 target price on shares of Alphatec in a report on Friday, May 2nd. Piper Sandler reaffirmed an “overweight” rating and issued a $15.00 target price (up previously from $13.00) on shares of Alphatec in a report on Friday, May 2nd. Lake Street Capital raised shares of Alphatec to a “buy” rating and set a $18.00 target price on the stock in a report on Monday, June 16th. Wall Street Zen raised shares of Alphatec from a “sell” rating to a “hold” rating in a report on Friday, February 28th. Finally, HC Wainwright reaffirmed a “buy” rating and issued a $20.00 target price on shares of Alphatec in a report on Monday, April 14th.

Alphatec Price Performance

NASDAQ ATEC opened at $11.35 on Friday. The firm’s 50-day moving average is $11.84 and its two-hundred day moving average is $10.87. Alphatec has a 12 month low of $4.88 and a 12 month high of $13.14. The stock has a market capitalization of $1.66 billion, a P/E ratio of -9.87 and a beta of 1.10.

Alphatec (NASDAQ:ATEC) last issued its quarterly earnings results on Thursday, May 1st. The medical technology company reported ($0.35) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.12) by ($0.23). The business had revenue of $169.18 million for the quarter, compared to analyst estimates of $167.57 million. Alphatec had a negative return on equity of 1,657.19% and a negative net margin of 25.77%. The firm’s revenue for the quarter was up 22.2% compared to the same quarter last year. During the same period in the prior year, the company posted ($0.34) EPS. As a group, analysts anticipate that Alphatec will post -1.08 EPS for the current year.

Insider Buying and Selling at Alphatec

In other news, Director Karen K. Mcginnis sold 3,963 shares of the firm’s stock in a transaction that occurred on Wednesday, June 11th. The shares were sold at an average price of $12.11, for a total transaction of $47,991.93. Following the transaction, the director now directly owns 68,709 shares in the company, valued at approximately $832,065.99. This trade represents a 5.45% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, COO Scott Lish sold 12,000 shares of the firm’s stock in a transaction that occurred on Monday, May 5th. The stock was sold at an average price of $12.12, for a total transaction of $145,440.00. Following the transaction, the chief operating officer now owns 826,251 shares in the company, valued at approximately $10,014,162.12. This trade represents a 1.43% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 294,065 shares of company stock worth $3,633,172 over the last three months. Insiders own 22.80% of the company’s stock.

Hedge Funds Weigh In On Alphatec

A number of hedge funds have recently modified their holdings of the business. Nuveen LLC purchased a new position in shares of Alphatec during the first quarter worth approximately $135,874,000. Vanguard Group Inc. grew its position in shares of Alphatec by 0.8% during the first quarter. Vanguard Group Inc. now owns 6,014,772 shares of the medical technology company’s stock worth $60,990,000 after acquiring an additional 45,792 shares during the last quarter. American Century Companies Inc. grew its position in shares of Alphatec by 16.9% during the first quarter. American Century Companies Inc. now owns 5,830,031 shares of the medical technology company’s stock worth $59,117,000 after acquiring an additional 840,974 shares during the last quarter. Royal Bank of Canada grew its position in shares of Alphatec by 10.8% during the first quarter. Royal Bank of Canada now owns 3,527,939 shares of the medical technology company’s stock worth $35,773,000 after acquiring an additional 342,656 shares during the last quarter. Finally, Nuveen Asset Management LLC grew its position in shares of Alphatec by 78.4% during the fourth quarter. Nuveen Asset Management LLC now owns 2,584,996 shares of the medical technology company’s stock worth $23,730,000 after acquiring an additional 1,136,330 shares during the last quarter. 66.35% of the stock is currently owned by hedge funds and other institutional investors.

Alphatec Company Profile

Alphatec Holdings, Inc, a medical technology company, designs, develops, and advances technologies for the surgical treatment of spinal disorders in the United States and internationally. It manufactures and sells implants and instruments through third-party suppliers. The company offers Alpha InformatiX product platform, including EOS imaging system that provides full-body imaging; VEA alignment mobile application, which leverages EOS technology to more quickly quantify alignment parameters on a mobile device; SafeOp Neural InformatiX System that automates electromyographic and somatosensory evoked potential monitoring; and Valence, an intra-operative system that integrates navigation and robotics into spine procedures, as well as Sigma Prone TransPsoas (PTP) Access and PTP Patient Positioning Systems.