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

Alphatec Holdings, Inc. (NASDAQ:ATEC) has received a consensus rating of “Moderate Buy” from the twelve analysts that are currently covering the firm, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating, nine have given a buy rating and one has issued a strong buy rating on the company. The average 12 month price target among analysts that have updated their coverage on the stock in the last year is $22.8182.

ATEC has been the subject of several recent research reports. Barclays boosted their price target on shares of Alphatec from $23.00 to $27.00 and gave the stock an “overweight” rating in a research note on Wednesday, January 7th. Piper Sandler reiterated an “overweight” rating on shares of Alphatec in a research note on Wednesday, February 25th. Stifel Nicolaus reduced their price objective on Alphatec from $24.00 to $20.00 and set a “buy” rating for the company in a report on Monday, March 9th. Lake Street Capital reiterated a “buy” rating on shares of Alphatec in a research note on Wednesday, February 25th. Finally, HC Wainwright reaffirmed a “buy” rating and issued a $24.00 target price on shares of Alphatec in a report on Monday, January 12th.

Alphatec Trading Down 1.8%

Shares of ATEC opened at $12.15 on Tuesday. The business has a 50-day moving average of $14.06 and a 200 day moving average of $16.74. Alphatec has a fifty-two week low of $8.81 and a fifty-two week high of $23.29. The company has a debt-to-equity ratio of 40.35, a quick ratio of 1.28 and a current ratio of 2.06. The firm has a market cap of $1.84 billion, a P/E ratio of -12.79 and a beta of 1.02.

Alphatec (NASDAQ:ATEC) last issued its quarterly earnings data on Tuesday, February 24th. The medical technology company reported $0.06 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.04 by $0.02. The company had revenue of $212.93 million for the quarter, compared to analysts’ expectations of $212.67 million. The business’s revenue for the quarter was up 20.4% on a year-over-year basis. During the same period last year, the company posted ($0.23) EPS. As a group, research analysts forecast that Alphatec will post -1.08 EPS for the current year.

Insiders Place Their Bets

In other news, General Counsel Tyson Eliot Marshall sold 88,835 shares of the business’s stock in a transaction that occurred on Thursday, March 5th. The stock was sold at an average price of $12.49, for a total transaction of $1,109,549.15. Following the transaction, the general counsel owned 559,459 shares of the company’s stock, valued at approximately $6,987,642.91. The trade was a 13.70% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, COO Scott Lish sold 260,535 shares of the firm’s stock in a transaction that occurred on Friday, March 13th. The stock was sold at an average price of $12.30, for a total value of $3,204,580.50. Following the sale, the chief operating officer directly owned 815,704 shares of the company’s stock, valued at $10,033,159.20. This represents a 24.21% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders sold 826,972 shares of company stock worth $11,285,386. 22.80% of the stock is currently owned by company insiders.

Institutional Trading of Alphatec

Several institutional investors and hedge funds have recently made changes to their positions in the company. Vanguard Group Inc. lifted its position in shares of Alphatec by 1.0% during the fourth 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 last quarter. American Century Companies Inc. increased 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 valued at $92,133,000 after acquiring an additional 159,330 shares during the period. Morgan Stanley increased its holdings in shares of Alphatec by 22.0% in the fourth quarter. Morgan Stanley now owns 4,340,936 shares of the medical technology company’s stock valued at $91,333,000 after purchasing an additional 784,191 shares during the period. State Street Corp raised its position in Alphatec by 6.4% during 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 last quarter. Finally, Geode Capital Management LLC lifted its stake in Alphatec by 1.2% during the 4th quarter. Geode Capital Management LLC now owns 2,828,026 shares of the medical technology company’s stock valued at $59,511,000 after acquiring an additional 32,465 shares during the period. 66.35% of the stock is currently owned by 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.