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

Alphatec Holdings, Inc. (NASDAQ:ATEC) has been given an average recommendation of “Moderate Buy” by the fifteen analysts that are covering the company, MarketBeat.com reports. One equities research analyst has rated the stock with a sell recommendation, one has issued a hold recommendation and thirteen have assigned a buy recommendation to the company. The average 1 year price target among brokerages that have updated their coverage on the stock in the last year is $17.40.

A number of research firms recently commented on ATEC. Stephens started coverage on Alphatec in a research note on Thursday, July 23rd. They issued an “overweight” rating and a $15.00 price objective on the stock. Stifel Nicolaus decreased their target price on shares of Alphatec from $16.00 to $13.00 and set a “buy” rating for the company in a research report on Wednesday, July 8th. Piper Sandler restated an “overweight” rating and set a $14.00 price target (down from $25.00) on shares of Alphatec in a report on Wednesday, May 6th. JPMorgan Chase & Co. dropped their price target on shares of Alphatec from $24.00 to $16.00 and set an “overweight” rating on the stock in a research report on Wednesday, May 6th. Finally, HC Wainwright reaffirmed a “buy” rating and issued a $24.00 price objective on shares of Alphatec in a research note on Thursday, May 7th.

Alphatec Stock Up 1.6%

Shares of NASDAQ:ATEC opened at $9.57 on Friday. The firm has a market cap of $1.48 billion, a P/E ratio of -13.48 and a beta of 0.85. The company has a quick ratio of 1.07, a current ratio of 1.89 and a debt-to-equity ratio of 40.35. Alphatec has a 12-month low of $6.82 and a 12-month high of $23.29. The business has a fifty day simple moving average of $9.19 and a 200 day simple moving average of $10.10.

Alphatec (NASDAQ:ATEC) last announced its earnings results on Tuesday, August 4th. The medical technology company reported $0.07 EPS for the quarter, hitting the consensus estimate of $0.07. The firm had revenue of $213.51 million for the quarter, compared to the consensus estimate of $211.26 million. Alphatec had a negative return on equity of 6,752.24% and a negative net margin of 13.49%.The business’s quarterly revenue was up 15.1% compared to the same quarter last year. During the same period in the previous year, the business earned $0.02 EPS. Analysts predict that Alphatec will post -0.45 earnings per share for the current year.

Insider Buying and Selling at Alphatec

In related news, Director Karen K. Mcginnis sold 6,050 shares of the business’s stock in a transaction on Thursday, June 11th. The shares were sold at an average price of $8.01, for a total value of $48,460.50. Following the transaction, the director owned 94,671 shares in the company, valued at $758,314.71. The trade was a 6.01% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 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. Also, General Counsel Tyson Eliot Marshall sold 8,168 shares of the company’s stock in a transaction on Wednesday, August 5th. The shares were sold at an average price of $9.65, for a total transaction of $78,821.20. Following the sale, the general counsel directly owned 630,398 shares in the company, valued at $6,083,340.70. This trade represents a 1.28% decrease in their position. The SEC filing for this sale provides additional information. 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 owned by insiders.

Institutional Investors Weigh In On Alphatec

Institutional investors and hedge funds have recently made changes to their positions in the business. Northwestern Mutual Wealth Management Co. increased its holdings in Alphatec by 157.1% in the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 2,571 shares of the medical technology company’s stock worth $54,000 after purchasing an additional 1,571 shares in the last quarter. Summit Securities Group LLC bought a new position in shares of Alphatec during the 1st quarter worth approximately $29,000. Osterweis Capital Management Inc. bought a new position in shares of Alphatec during the 2nd quarter worth approximately $37,000. Focus Partners Wealth acquired a new stake in shares of Alphatec during the 3rd quarter worth approximately $138,000. Finally, Merit Financial Group LLC acquired a new stake in shares of Alphatec during the 4th quarter worth approximately $207,000. 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.