Alphatec Holdings, Inc. (NASDAQ:ATEC) Receives Consensus Recommendation of “Moderate Buy” from Brokerages

Alphatec Holdings, Inc. (NASDAQ:ATEC) has been assigned a consensus rating of “Moderate Buy” from the twelve ratings firms that are presently covering the company, Marketbeat.com reports. One investment analyst has rated the stock with a sell rating, one has issued a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company. The average 1 year target price among brokerages that have issued a report on the stock in the last year is $22.8182.

Several brokerages recently weighed in on ATEC. Barclays lifted their price target on Alphatec from $23.00 to $27.00 and gave the company an “overweight” rating in a research report on Wednesday, January 7th. HC Wainwright reaffirmed a “buy” rating and set a $24.00 target price on shares of Alphatec in a report on Monday, January 12th. Lake Street Capital reiterated a “buy” rating on shares of Alphatec in a research note on Wednesday, February 25th. Piper Sandler reissued an “overweight” rating on shares of Alphatec in a report on Wednesday, February 25th. Finally, Stifel Nicolaus dropped their price target on shares of Alphatec from $24.00 to $20.00 and set a “buy” rating on the stock in a research report on Monday, March 9th.

Insider Activity

In other news, COO Scott Lish sold 260,535 shares of the firm’s stock in a transaction dated Friday, March 13th. The stock was sold at an average price of $12.30, for a total transaction of $3,204,580.50. Following the sale, the chief operating officer directly owned 815,704 shares in the company, valued at $10,033,159.20. This trade represents a 24.21% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP David Sponsel sold 163,452 shares of the company’s stock in a transaction dated Wednesday, March 11th. The stock was sold at an average price of $12.52, for a total value of $2,046,419.04. Following the completion of the transaction, the executive vice president directly owned 504,932 shares of the company’s stock, valued at $6,321,748.64. The trade was a 24.45% decrease in their position. The SEC filing for this sale provides additional information. Over the last three months, insiders sold 826,972 shares of company stock worth $11,285,386. 22.80% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in ATEC. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in Alphatec by 4.5% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 74,005 shares of the medical technology company’s stock worth $750,000 after acquiring an additional 3,196 shares in the last quarter. Dynamic Technology Lab Private Ltd acquired a new stake in shares of Alphatec in the first quarter valued at about $257,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its stake in shares of Alphatec by 18.4% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 265,907 shares of the medical technology company’s stock worth $2,696,000 after purchasing an additional 41,264 shares in the last quarter. Geode Capital Management LLC increased its stake in shares of Alphatec by 7.4% during the second quarter. Geode Capital Management LLC now owns 2,697,541 shares of the medical technology company’s stock worth $29,946,000 after purchasing an additional 185,297 shares in the last quarter. Finally, Police & Firemen s Retirement System of New Jersey raised its position in shares of Alphatec by 15.7% during the 2nd quarter. Police & Firemen s Retirement System of New Jersey now owns 26,784 shares of the medical technology company’s stock worth $297,000 after purchasing an additional 3,634 shares during the last quarter. Hedge funds and other institutional investors own 66.35% of the company’s stock.

Alphatec Price Performance

NASDAQ:ATEC opened at $12.15 on Tuesday. Alphatec has a one year low of $8.81 and a one year high of $23.29. The company has a debt-to-equity ratio of 40.35, a quick ratio of 1.28 and a current ratio of 2.06. The firm has a market cap of $1.84 billion, a price-to-earnings ratio of -12.79 and a beta of 1.02. The firm’s fifty day moving average is $14.06 and its two-hundred day moving average is $16.74.

Alphatec (NASDAQ:ATEC) last released its quarterly earnings data on Tuesday, February 24th. The medical technology company reported $0.06 earnings per share for the quarter, beating analysts’ consensus estimates of $0.04 by $0.02. The company had revenue of $212.93 million for the quarter, compared to analysts’ expectations of $212.67 million. The business’s quarterly revenue was up 20.4% on a year-over-year basis. During the same quarter in the previous year, the business posted ($0.23) EPS. Research analysts expect that Alphatec will post -1.08 EPS for the current year.

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.