Alphatec Holdings, Inc. (NASDAQ:ATEC) Receives $18.58 Average Target Price from Brokerages

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

ATEC has been the topic of a number of analyst reports. Lake Street Capital reiterated a “buy” rating and set a $15.00 target price on shares of Alphatec in a report on Wednesday, May 6th. Piper Sandler reiterated 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. Wall Street Zen upgraded Alphatec from a “hold” rating to a “buy” rating in a report on Saturday, January 31st. TD Cowen dropped their target price on Alphatec from $20.00 to $11.00 and set a “buy” rating for the company in a research note on Wednesday, May 6th. Finally, JPMorgan Chase & Co. reduced their target price on Alphatec from $24.00 to $16.00 and set an “overweight” rating on the stock in a research report on Wednesday, May 6th.

Alphatec Price Performance

Shares of NASDAQ:ATEC opened at $8.22 on Wednesday. The business’s fifty day moving average price is $10.59 and its two-hundred day moving average price is $15.38. The stock has a market cap of $1.26 billion, a PE ratio of -10.02 and a beta of 0.96. 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.

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

Insiders Place Their Bets

In other Alphatec news, EVP Craig E. Hunsaker sold 82,765 shares of Alphatec stock in a transaction dated Monday, March 9th. The stock was sold at an average price of $12.45, for a total value of $1,030,424.25. Following the completion of the sale, the executive vice president owned 1,726,209 shares in the company, valued at $21,491,302.05. The trade was a 4.58% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, EVP David Sponsel sold 163,452 shares of Alphatec stock in a transaction dated Wednesday, March 11th. The shares were sold at an average price of $12.52, for a total value of $2,046,419.04. Following the completion of the sale, the executive vice president owned 504,932 shares of the company’s stock, valued at $6,321,748.64. This trade represents a 24.45% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 629,189 shares of company stock worth $7,801,589 over the last 90 days. Corporate insiders own 13.48% of the company’s stock.

Institutional Trading of Alphatec

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. grew its holdings in Alphatec by 1.0% in the 4th 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 during the period. American Century Companies Inc. raised its position in shares of Alphatec by 2.6% in the 3rd quarter. American Century Companies Inc. now owns 6,336,491 shares of the medical technology company’s stock worth $92,133,000 after buying an additional 159,330 shares during the period. Morgan Stanley raised its position in shares of Alphatec by 22.0% in the 4th quarter. Morgan Stanley now owns 4,340,936 shares of the medical technology company’s stock worth $91,333,000 after buying an additional 784,191 shares during the period. State Street Corp raised its position in shares of Alphatec by 6.4% in the 4th quarter. State Street Corp now owns 2,889,240 shares of the medical technology company’s stock worth $60,790,000 after buying an additional 174,287 shares during the period. Finally, Geode Capital Management LLC raised its position in shares of Alphatec by 1.2% in the 4th quarter. Geode Capital Management LLC now owns 2,828,026 shares of the medical technology company’s stock worth $59,511,000 after buying an additional 32,465 shares during the period. Hedge funds and other institutional investors own 66.35% of the company’s stock.

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.