Alphatec Holdings, Inc. (NASDAQ:ATEC) Given Average Rating of “Moderate Buy” by Brokerages

Shares of Alphatec Holdings, Inc. (NASDAQ:ATEC) have been given an average recommendation of “Moderate Buy” by the fifteen brokerages that are covering the firm, Marketbeat reports. One investment analyst has rated the stock with a sell recommendation, one has assigned a hold recommendation and thirteen have given a buy recommendation to the company. The average 1-year price objective among analysts that have issued ratings on the stock in the last year is $17.40.

Several research firms have recently weighed in on ATEC. Canaccord Genuity Group reduced their target price on Alphatec from $25.00 to $23.00 and set a “buy” rating for the company in a report on Wednesday, May 6th. TD Cowen raised their price target on Alphatec from $11.00 to $13.00 and gave the stock a “buy” rating in a research note on Wednesday, August 5th. Wall Street Zen lowered Alphatec from a “buy” rating to a “hold” rating in a research report on Sunday, July 12th. Stephens started coverage on Alphatec in a research report on Thursday, July 23rd. They set an “overweight” rating and a $15.00 price target on the stock. Finally, Piper Sandler reiterated an “overweight” rating and issued a $14.00 price objective (down from $25.00) on shares of Alphatec in a research note on Wednesday, May 6th.

Alphatec Trading Up 1.0%

NASDAQ ATEC opened at $9.33 on Friday. The firm’s fifty day moving average price is $9.16 and its 200 day moving average price is $10.16. Alphatec has a 12 month low of $6.82 and a 12 month high of $23.29. The company has a debt-to-equity ratio of 40.35, a current ratio of 1.89 and a quick ratio of 1.07. The company has a market capitalization of $1.44 billion, a price-to-earnings ratio of -13.14 and a beta of 0.85.

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

Insiders Place Their Bets

In related news, Director Karen K. Mcginnis sold 6,050 shares of the stock in a transaction on Thursday, June 11th. The shares were sold at an average price of $8.01, for a total transaction of $48,460.50. Following the completion of the sale, the director owned 94,671 shares in the company, valued at $758,314.71. This represents a 6.01% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at 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. Also, General Counsel Tyson Eliot Marshall sold 8,168 shares of the firm’s stock in a transaction on Wednesday, August 5th. The stock was sold at an average price of $9.65, for a total transaction of $78,821.20. Following the transaction, the general counsel directly owned 630,398 shares in the company, valued at $6,083,340.70. The trade was a 1.28% decrease in their ownership of the stock. 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. Insiders own 13.48% of the company’s stock.

Institutional Investors Weigh In On Alphatec

Institutional investors and hedge funds have recently made changes to their positions in the business. Summit Securities Group LLC acquired a new position in Alphatec in the 1st quarter valued at about $29,000. Osterweis Capital Management Inc. purchased a new stake in Alphatec during the 2nd quarter valued at approximately $37,000. Northwestern Mutual Wealth Management Co. lifted its position in Alphatec by 157.1% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 2,571 shares of the medical technology company’s stock worth $54,000 after acquiring an additional 1,571 shares during the period. Atlas Brown Inc. acquired a new stake in Alphatec during the 2nd quarter worth approximately $111,000. Finally, Lido Advisors LLC purchased a new position in shares of Alphatec in the 1st quarter valued at approximately $115,000. 66.35% of the stock is owned by hedge funds and other institutional investors.

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.