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

Alphatec Holdings, Inc. (NASDAQ:ATEC) has earned a consensus recommendation of “Moderate Buy” from the twelve ratings firms that are presently covering the stock, Marketbeat reports. One equities research analyst has rated the stock with a sell recommendation, one has issued a hold recommendation and ten have issued a buy recommendation on the company. The average 12-month price objective among brokerages that have updated their coverage on the stock in the last year is $18.5833.

Several research analysts have recently commented on the stock. Piper Sandler reaffirmed an “overweight” rating and set a $14.00 target price (down from $25.00) on shares of Alphatec in a report on Wednesday, May 6th. Wells Fargo & Company lowered their target price on shares of Alphatec from $28.00 to $14.00 and set an “overweight” rating on the stock in a report on Thursday, May 7th. HC Wainwright reaffirmed a “buy” rating and set a $24.00 target price on shares of Alphatec in a report on Thursday, May 7th. Barclays lowered their target price on shares of Alphatec from $27.00 to $24.00 and set an “overweight” rating on the stock in a report on Thursday, May 7th. Finally, JPMorgan Chase & Co. lowered their target price on shares of Alphatec from $24.00 to $16.00 and set an “overweight” rating on the stock in a report on Wednesday, May 6th.

Insider Activity at Alphatec

In related news, EVP Craig E. Hunsaker sold 82,765 shares of Alphatec stock in a transaction that occurred on Monday, March 9th. The shares were sold at an average price of $12.45, for a total value of $1,030,424.25. Following the transaction, the executive vice president directly owned 1,726,209 shares of the company’s stock, valued at $21,491,302.05. This trade represents a 4.58% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP David Sponsel sold 163,452 shares of Alphatec stock in a transaction that occurred on Wednesday, March 11th. The shares were sold at an average price of $12.52, for a total transaction of $2,046,419.04. Following the completion of the transaction, the executive vice president directly owned 504,932 shares in the company, valued at $6,321,748.64. This trade represents a 24.45% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 506,752 shares of company stock valued at $6,281,424 over the last three months. 13.48% of the stock is owned by insiders.

Institutional Trading of Alphatec

A number of hedge funds have recently added to or reduced their stakes in the stock. Vanguard Group Inc. boosted its position in Alphatec by 1.0% in the fourth quarter. Vanguard Group Inc. now owns 6,883,626 shares of the medical technology company’s stock valued at $144,831,000 after buying an additional 68,568 shares in the last quarter. American Century Companies Inc. boosted its position in Alphatec by 2.6% in the third quarter. American Century Companies Inc. now owns 6,336,491 shares of the medical technology company’s stock valued at $92,133,000 after buying an additional 159,330 shares in the last quarter. Morgan Stanley boosted its position in Alphatec by 22.0% in the fourth quarter. Morgan Stanley now owns 4,340,936 shares of the medical technology company’s stock valued at $91,333,000 after buying an additional 784,191 shares in the last quarter. State Street Corp boosted its position in Alphatec by 6.4% in the fourth quarter. State Street Corp now owns 2,889,240 shares of the medical technology company’s stock valued at $60,790,000 after buying an additional 174,287 shares in the last quarter. Finally, Geode Capital Management LLC boosted its position in Alphatec by 1.2% in the fourth quarter. Geode Capital Management LLC now owns 2,828,026 shares of the medical technology company’s stock valued at $59,511,000 after buying an additional 32,465 shares in the last quarter. Institutional investors and hedge funds own 66.35% of the company’s stock.

Alphatec Stock Up 1.0%

Shares of ATEC opened at $8.00 on Friday. Alphatec has a 12 month low of $6.82 and a 12 month high of $23.29. The firm’s 50 day moving average is $9.42 and its 200-day moving average is $14.35. The stock has a market capitalization of $1.23 billion, a PE ratio of -9.76 and a beta of 0.88. The company has a current ratio of 1.90, a quick ratio of 1.12 and a debt-to-equity ratio of 40.35.

Alphatec (NASDAQ:ATEC) last announced its earnings results on Tuesday, May 5th. The medical technology company reported ($0.22) EPS for the quarter, missing the consensus estimate of ($0.01) by ($0.21). Alphatec had a negative return on equity of 1,183.84% and a negative net margin of 15.93%.The business had revenue of $192.11 million for the quarter, compared to the consensus estimate of $197.51 million. During the same period in the prior year, the business posted ($0.35) earnings per share. The firm’s revenue for the quarter was up 13.6% compared to the same quarter last year. Equities research analysts forecast that Alphatec will post -0.44 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.