Alphatec Holdings, Inc. (NASDAQ:ATEC) Receives Average Rating of “Buy” from Analysts

Shares of Alphatec Holdings, Inc. (NASDAQ:ATEC) have been given an average recommendation of “Buy” by the seven research firms that are presently covering the company, Marketbeat reports. Seven investment analysts have rated the stock with a buy recommendation. The average 12 month target price among brokers that have issued ratings on the stock in the last year is $23.63.

A number of equities analysts recently issued reports on ATEC shares. Canaccord Genuity Group reissued a “buy” rating and set a $25.00 price target on shares of Alphatec in a report on Wednesday, March 20th. Wells Fargo & Company started coverage on Alphatec in a report on Friday, February 9th. They set an “overweight” rating and a $26.00 price target on the stock. Needham & Company LLC raised their price target on Alphatec from $22.00 to $23.00 and gave the stock a “buy” rating in a report on Thursday, March 28th. Finally, HC Wainwright reissued a “buy” rating and set a $20.00 price target on shares of Alphatec in a report on Monday, March 4th.

Insider Buying and Selling at Alphatec

In other Alphatec news, EVP David Sponsel sold 2,500 shares of Alphatec stock in a transaction that occurred on Wednesday, February 14th. The stock was sold at an average price of $16.16, for a total value of $40,400.00. Following the sale, the executive vice president now owns 637,418 shares of the company’s stock, valued at approximately $10,300,674.88. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, General Counsel Tyson Eliot Marshall sold 11,825 shares of Alphatec stock in a transaction that occurred on Friday, March 1st. The shares were sold at an average price of $13.30, for a total transaction of $157,272.50. Following the completion of the sale, the general counsel now directly owns 305,095 shares in the company, valued at approximately $4,057,763.50. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, EVP David Sponsel sold 2,500 shares of Alphatec stock in a transaction that occurred on Wednesday, February 14th. The shares were sold at an average price of $16.16, for a total transaction of $40,400.00. Following the sale, the executive vice president now owns 637,418 shares of the company’s stock, valued at $10,300,674.88. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 247,569 shares of company stock valued at $3,490,745. 29.12% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Alphatec

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Amalgamated Bank lifted its position in shares of Alphatec by 7.3% during the 4th quarter. Amalgamated Bank now owns 9,720 shares of the medical technology company’s stock valued at $147,000 after acquiring an additional 660 shares during the period. Valeo Financial Advisors LLC raised its position in shares of Alphatec by 5.0% during the 4th quarter. Valeo Financial Advisors LLC now owns 19,025 shares of the medical technology company’s stock worth $287,000 after purchasing an additional 900 shares during the last quarter. RiverPark Advisors LLC raised its position in shares of Alphatec by 22.6% during the 4th quarter. RiverPark Advisors LLC now owns 5,033 shares of the medical technology company’s stock worth $76,000 after purchasing an additional 928 shares during the last quarter. Handelsbanken Fonder AB raised its position in shares of Alphatec by 5.0% during the 4th quarter. Handelsbanken Fonder AB now owns 20,900 shares of the medical technology company’s stock worth $316,000 after purchasing an additional 1,000 shares during the last quarter. Finally, State Board of Administration of Florida Retirement System raised its position in shares of Alphatec by 4.7% during the 3rd quarter. State Board of Administration of Florida Retirement System now owns 22,904 shares of the medical technology company’s stock worth $297,000 after purchasing an additional 1,030 shares during the last quarter. 66.35% of the stock is currently owned by institutional investors and hedge funds.

Alphatec Stock Up 2.0 %

ATEC opened at $12.79 on Tuesday. The business’s 50-day simple moving average is $13.88 and its 200-day simple moving average is $13.46. The company has a debt-to-equity ratio of 6.54, a quick ratio of 1.99 and a current ratio of 2.86. Alphatec has a one year low of $8.66 and a one year high of $19.14. The stock has a market capitalization of $1.76 billion, a P/E ratio of -8.25 and a beta of 1.55.

Alphatec (NASDAQ:ATEC) last posted its earnings results on Tuesday, February 27th. The medical technology company reported ($0.37) EPS for the quarter, missing analysts’ consensus estimates of ($0.28) by ($0.09). The firm had revenue of $138.00 million during the quarter, compared to analyst estimates of $131.90 million. During the same quarter in the prior year, the business earned ($0.33) EPS. The business’s quarterly revenue was up 30.3% on a year-over-year basis. Analysts anticipate that Alphatec will post -1.1 EPS for the current year.

About Alphatec

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.