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

Alphatec Holdings, Inc. (NASDAQ:ATEC) has been assigned an average recommendation of “Moderate Buy” from the twelve brokerages that are currently covering the stock, MarketBeat.com reports. One analyst has rated the stock with a sell recommendation, one has assigned a hold recommendation and ten have issued a buy recommendation on the company. The average 12 month target price among brokers that have issued a report on the stock in the last year is $18.5833.

Several brokerages have recently issued reports on ATEC. HC Wainwright reiterated a “buy” rating and issued a $24.00 target price on shares of Alphatec in a research note on Thursday, May 7th. Barclays reduced their price target on shares of Alphatec from $27.00 to $24.00 and set an “overweight” rating for the company in a research report on Thursday, May 7th. JPMorgan Chase & Co. decreased their price objective on shares of Alphatec from $24.00 to $16.00 and set an “overweight” rating for the company in a report on Wednesday, May 6th. Canaccord Genuity Group lowered their price objective on Alphatec from $25.00 to $23.00 and set a “buy” rating on the stock in a research report on Wednesday, May 6th. Finally, Needham & Company LLC cut their target price on Alphatec from $25.00 to $14.00 and set a “buy” rating on the stock in a research note on Wednesday, May 6th.

Alphatec Stock Performance

Shares of ATEC stock opened at $8.86 on Thursday. The company has a market capitalization of $1.36 billion, a price-to-earnings ratio of -10.80 and a beta of 0.85. The company has a debt-to-equity ratio of 40.35, a quick ratio of 1.12 and a current ratio of 1.90. Alphatec has a one year low of $6.82 and a one year high of $23.29. The company’s 50-day moving average is $8.49 and its 200 day moving average is $12.72.

Insider Activity

In other news, Director Karen K. Mcginnis sold 6,050 shares of the company’s stock in a transaction on Thursday, June 11th. The stock was sold at an average price of $8.01, for a total transaction of $48,460.50. Following the transaction, the director directly owned 94,671 shares of the company’s stock, valued at $758,314.71. This represents a 6.01% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. 13.48% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Alphatec

Hedge funds have recently bought and sold shares of the business. Western Wealth Management LLC lifted its stake in Alphatec by 20.9% during the 1st quarter. Western Wealth Management LLC now owns 103,909 shares of the medical technology company’s stock valued at $1,131,000 after acquiring an additional 17,928 shares during the period. Bank of America Corp DE boosted its holdings in shares of Alphatec by 26.9% during the 1st quarter. Bank of America Corp DE now owns 2,560,971 shares of the medical technology company’s stock valued at $27,863,000 after acquiring an additional 543,059 shares during the last quarter. California State Teachers Retirement System grew its stake in shares of Alphatec by 34.1% in the first quarter. California State Teachers Retirement System now owns 147,650 shares of the medical technology company’s stock worth $1,606,000 after acquiring an additional 37,557 shares during the period. Rock Springs Capital Management LP grew its stake in shares of Alphatec by 15.7% in the first quarter. Rock Springs Capital Management LP now owns 350,000 shares of the medical technology company’s stock worth $3,808,000 after acquiring an additional 47,500 shares during the period. Finally, Quantinno Capital Management LP raised its holdings in shares of Alphatec by 34.4% during the first quarter. Quantinno Capital Management LP now owns 21,452 shares of the medical technology company’s stock valued at $233,000 after purchasing an additional 5,487 shares during the last quarter. Hedge funds and other institutional investors own 66.35% of the company’s stock.

Alphatec Company Profile

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.