Alphatec Holdings, Inc. (NASDAQ:ATEC) Receives $23.63 Consensus PT from Analysts

Alphatec Holdings, Inc. (NASDAQ:ATEC) has been given a consensus rating of “Buy” by the seven ratings firms that are presently covering the firm, MarketBeat reports. Seven research analysts have rated the stock with a buy rating. The average 12 month price objective among brokers that have issued a report on the stock in the last year is $23.63.

Several equities analysts have weighed in on the company. Canaccord Genuity Group reissued a “buy” rating and set a $25.00 price target on shares of Alphatec in a research report on Wednesday, March 20th. Wells Fargo & Company initiated coverage on shares of Alphatec in a research note on Friday, February 9th. They issued an “overweight” rating and a $26.00 target price for the company. Needham & Company LLC raised their price target on shares of Alphatec from $22.00 to $23.00 and gave the stock a “buy” rating in a research note on Thursday, March 28th. Finally, HC Wainwright reissued a “buy” rating and issued a $20.00 price objective on shares of Alphatec in a research report on Monday, March 4th.

Insider Activity at Alphatec

In related news, Director Evan Bakst purchased 15,000 shares of the firm’s stock in a transaction on Thursday, March 14th. The shares were bought at an average price of $13.53 per share, for a total transaction of $202,950.00. Following the acquisition, the director now directly owns 15,000 shares in the company, valued at $202,950. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other Alphatec news, Director Quentin S. Blackford bought 20,000 shares of the company’s stock in a transaction that occurred on Thursday, March 7th. The stock was purchased at an average price of $12.83 per share, with a total value of $256,600.00. Following the transaction, the director now owns 572,605 shares in the company, valued at $7,346,522.15. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Evan Bakst purchased 15,000 shares of the business’s stock in a transaction that occurred on Thursday, March 14th. The stock was acquired at an average price of $13.53 per share, for a total transaction of $202,950.00. Following the acquisition, the director now directly owns 15,000 shares of the company’s stock, valued at approximately $202,950. The disclosure for this purchase can be found here. Over the last three months, insiders sold 247,569 shares of company stock worth $3,490,745. 29.12% of the stock is owned by company insiders.

Hedge Funds Weigh In On Alphatec

Hedge funds have recently made changes to their positions in the business. First Light Asset Management LLC boosted its position in Alphatec by 97.0% during the 4th quarter. First Light Asset Management LLC now owns 5,976,851 shares of the medical technology company’s stock worth $90,310,000 after purchasing an additional 2,943,310 shares during the period. Cerity Partners LLC acquired a new stake in shares of Alphatec in the fourth quarter valued at about $28,451,000. Artisan Partners Limited Partnership purchased a new stake in shares of Alphatec during the 4th quarter valued at about $19,050,000. abrdn plc lifted its position in Alphatec by 276.7% during the 3rd quarter. abrdn plc now owns 1,382,770 shares of the medical technology company’s stock worth $17,935,000 after acquiring an additional 1,015,668 shares in the last quarter. Finally, Fred Alger Management LLC boosted its holdings in Alphatec by 48.9% in the 3rd quarter. Fred Alger Management LLC now owns 2,336,718 shares of the medical technology company’s stock worth $30,307,000 after acquiring an additional 767,280 shares during the period. Hedge funds and other institutional investors own 66.35% of the company’s stock.

Alphatec Trading Down 3.9 %

NASDAQ:ATEC opened at $12.24 on Tuesday. The company has a market capitalization of $1.69 billion, a PE ratio of -7.90 and a beta of 1.55. Alphatec has a 52-week low of $8.66 and a 52-week high of $19.14. The stock has a fifty day simple moving average of $13.76 and a 200-day simple moving average of $13.47. The company has a quick ratio of 1.99, a current ratio of 2.86 and a debt-to-equity ratio of 6.54.

Alphatec (NASDAQ:ATEC) last announced its quarterly earnings results on Tuesday, February 27th. The medical technology company reported ($0.37) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.28) by ($0.09). The business had revenue of $138.00 million for the quarter, compared to the consensus estimate of $131.90 million. During the same quarter in the previous year, the business earned ($0.33) earnings per share. Alphatec’s quarterly revenue was up 30.3% on a year-over-year basis. On average, equities research analysts expect that Alphatec will post -1.1 earnings per share for the current fiscal year.

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.