Alphatec Holdings, Inc. (NASDAQ:ATEC) Given Consensus Recommendation of “Moderate Buy” by Analysts

Shares of Alphatec Holdings, Inc. (NASDAQ:ATEC) have been given an average rating of “Moderate Buy” by the nine analysts that are presently covering the firm, MarketBeat Ratings reports. One equities research analyst has rated the stock with a hold recommendation and eight have assigned a buy recommendation to the company. The average 12 month price objective among brokers that have covered the stock in the last year is $17.89.

ATEC has been the subject of a number of analyst reports. Piper Sandler reiterated an “overweight” rating and set a $15.00 price objective (up from $13.00) on shares of Alphatec in a report on Friday, May 2nd. Wall Street Zen upgraded Alphatec from a “sell” rating to a “hold” rating in a research note on Friday, February 28th. Lake Street Capital raised Alphatec to a “buy” rating and set a $18.00 price objective for the company in a report on Monday, June 16th. HC Wainwright reissued a “buy” rating and issued a $20.00 price objective on shares of Alphatec in a research note on Monday, April 14th. Finally, Needham & Company LLC reaffirmed a “buy” rating and set a $16.00 target price on shares of Alphatec in a research report on Friday, May 2nd.

Alphatec Stock Down 3.0%

NASDAQ ATEC opened at $10.90 on Friday. Alphatec has a 52 week low of $4.88 and a 52 week high of $13.14. The business has a 50 day moving average price of $11.87 and a 200-day moving average price of $10.88. The company has a market cap of $1.59 billion, a price-to-earnings ratio of -9.48 and a beta of 1.10.

Alphatec (NASDAQ:ATEC) last posted 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 during the quarter, compared to analyst estimates of $167.57 million. Alphatec had a negative net margin of 25.77% and a negative return on equity of 1,657.19%. The business’s revenue for the quarter was up 22.2% compared to the same quarter last year. During the same period in the previous year, the business posted ($0.34) EPS. On average, equities research analysts anticipate that Alphatec will post -1.08 earnings per share for the current year.

Insider Activity

In other news, COO Scott Lish sold 55,375 shares of Alphatec stock in a transaction on Monday, May 19th. The stock was sold at an average price of $13.00, for a total transaction of $719,875.00. Following the sale, the chief operating officer now directly owns 771,645 shares in the company, valued at $10,031,385. The trade was a 6.70% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Craig E. Hunsaker sold 13,878 shares of the business’s stock in a transaction dated Thursday, June 5th. The stock was sold at an average price of $12.36, for a total transaction of $171,532.08. Following the completion of the transaction, the executive vice president now directly owns 1,450,018 shares in the company, valued at $17,922,222.48. This trade represents a 0.95% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 294,065 shares of company stock valued at $3,633,172 over the last three months. Corporate insiders own 20.90% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Lido Advisors LLC raised its holdings in shares of Alphatec by 8.4% in the 4th quarter. Lido Advisors LLC now owns 12,247 shares of the medical technology company’s stock worth $112,000 after purchasing an additional 953 shares during the period. PNC Financial Services Group Inc. increased its position in Alphatec by 0.4% in the fourth quarter. PNC Financial Services Group Inc. now owns 312,954 shares of the medical technology company’s stock worth $2,873,000 after buying an additional 1,120 shares during the last quarter. Comerica Bank increased its position in Alphatec by 66.8% in the fourth quarter. Comerica Bank now owns 3,116 shares of the medical technology company’s stock worth $29,000 after buying an additional 1,248 shares during the last quarter. Summit Investment Advisors Inc. raised its stake in shares of Alphatec by 14.1% in the fourth quarter. Summit Investment Advisors Inc. now owns 10,890 shares of the medical technology company’s stock valued at $100,000 after buying an additional 1,342 shares during the period. Finally, Oppenheimer Asset Management Inc. lifted its position in shares of Alphatec by 13.4% during the 1st quarter. Oppenheimer Asset Management Inc. now owns 13,144 shares of the medical technology company’s stock valued at $133,000 after buying an additional 1,552 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.