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

Shares of Alphatec Holdings, Inc. (NASDAQ:ATEC) have been given an average recommendation of “Moderate Buy” by the nine analysts that are covering the firm, MarketBeat Ratings reports. One equities research analyst has rated the stock with a hold recommendation and eight have issued a buy recommendation on the company. The average 1 year price objective among analysts that have covered the stock in the last year is $18.13.

A number of research firms have weighed in on ATEC. Needham & Company LLC reissued a “buy” rating and issued a $16.00 price objective on shares of Alphatec in a research report on Friday, May 2nd. Piper Sandler reissued an “overweight” rating and issued a $15.00 price target (up previously from $13.00) on shares of Alphatec in a report on Friday, May 2nd. Lake Street Capital upgraded Alphatec to a “buy” rating and set a $18.00 price objective on the stock in a report on Monday, June 16th. Finally, HC Wainwright reiterated a “buy” rating and set a $20.00 target price on shares of Alphatec in a research note on Monday, April 14th.

Insider Activity at Alphatec

In related news, EVP Craig E. Hunsaker sold 186,122 shares of Alphatec stock in a transaction dated Wednesday, June 4th. The shares were sold at an average price of $12.34, for a total transaction of $2,296,745.48. Following the sale, the executive vice president directly owned 1,463,896 shares in the company, valued at $18,064,476.64. The trade was a 11.28% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, COO Scott Lish sold 55,375 shares of the firm’s stock in a transaction dated Monday, May 19th. The shares were sold at an average price of $13.00, for a total transaction of $719,875.00. Following the transaction, the chief operating officer directly owned 771,645 shares in the company, valued at approximately $10,031,385. The trade was a 6.70% decrease in their position. The disclosure for this sale can be found here. Insiders sold 299,547 shares of company stock worth $3,698,956 in the last 90 days. 20.90% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Alphatec

Institutional investors have recently added to or reduced their stakes in the company. Comerica Bank lifted its holdings in shares of Alphatec by 66.8% in the fourth quarter. Comerica Bank now owns 3,116 shares of the medical technology company’s stock valued at $29,000 after buying an additional 1,248 shares during the period. Quarry LP raised its position in Alphatec by 79.2% in the fourth quarter. Quarry LP now owns 5,374 shares of the medical technology company’s stock worth $49,000 after acquiring an additional 2,375 shares in the last quarter. Larson Financial Group LLC acquired a new stake in Alphatec in the 1st quarter valued at about $54,000. Lazard Asset Management LLC bought a new position in shares of Alphatec during the 4th quarter valued at about $76,000. Finally, AlphaQuest LLC acquired a new position in shares of Alphatec in the 4th quarter worth approximately $80,000. 66.35% of the stock is currently owned by institutional investors and hedge funds.

Alphatec Trading Down 0.7%

Shares of ATEC stock opened at $10.63 on Thursday. The company has a market cap of $1.55 billion, a PE ratio of -9.24 and a beta of 1.05. The company’s fifty day simple moving average is $11.78 and its 200-day simple moving average is $11.05. Alphatec has a 52 week low of $4.88 and a 52 week high of $13.14.

Alphatec (NASDAQ:ATEC) last announced 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 company 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 firm’s revenue for the quarter was up 22.2% on a year-over-year basis. During the same quarter in the prior year, the company posted ($0.34) earnings per share. Equities research analysts expect that Alphatec will post -1.08 EPS for the current fiscal year.

About Alphatec

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.