Brokerages Set Alphatec Holdings, Inc. (NASDAQ:ATEC) Target Price at $17.89

Alphatec Holdings, Inc. (NASDAQ:ATEC) has been given a consensus recommendation of “Moderate Buy” by the nine research firms that are covering the stock, Marketbeat.com reports. One investment analyst has rated the stock with a hold rating and eight have assigned a buy rating to the company. The average 12-month target price among analysts that have covered the stock in the last year is $17.89.

ATEC has been the topic of a number of research reports. Wall Street Zen upgraded Alphatec from a “sell” rating to a “hold” rating in a research report on Friday, February 28th. HC Wainwright restated a “buy” rating and set a $20.00 price target on shares of Alphatec in a report on Monday, April 14th. Lake Street Capital upgraded shares of Alphatec to a “buy” rating and set a $18.00 price objective for the company in a report on Monday, June 16th. Piper Sandler reiterated an “overweight” rating and set a $15.00 target price (up from $13.00) on shares of Alphatec in a research report on Friday, May 2nd. Finally, Needham & Company LLC restated a “buy” rating and issued a $16.00 price target on shares of Alphatec in a research report on Friday, May 2nd.

Insider Buying and Selling at Alphatec

In other news, EVP Craig E. Hunsaker sold 13,878 shares of the business’s stock in a transaction dated Thursday, June 5th. The stock was sold at an average price of $12.36, for a total value of $171,532.08. Following the transaction, the executive vice president now directly owns 1,450,018 shares of the company’s stock, valued at $17,922,222.48. The trade was a 0.95% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, COO Scott Lish sold 22,727 shares of the firm’s stock in a transaction that occurred on Friday, June 13th. The stock was sold at an average price of $11.07, for a total value of $251,587.89. Following the sale, the chief operating officer now directly owns 748,918 shares of the company’s stock, valued at $8,290,522.26. This represents a 2.95% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 294,065 shares of company stock valued at $3,633,172. 20.90% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Alphatec

Institutional investors have recently added to or reduced their stakes in the business. Nuveen LLC acquired a new stake in shares of Alphatec during the 1st quarter worth approximately $135,874,000. Royal Bank of Canada grew its holdings in Alphatec by 171.2% in the fourth quarter. Royal Bank of Canada now owns 3,185,283 shares of the medical technology company’s stock worth $29,240,000 after purchasing an additional 2,010,806 shares during the period. American Century Companies Inc. grew its holdings in Alphatec by 36.5% in the fourth quarter. American Century Companies Inc. now owns 4,989,057 shares of the medical technology company’s stock worth $45,800,000 after purchasing an additional 1,334,780 shares during the period. MetLife Investment Management LLC increased its stake in Alphatec by 1,818.5% in the first quarter. MetLife Investment Management LLC now owns 1,213,943 shares of the medical technology company’s stock valued at $12,309,000 after purchasing an additional 1,150,669 shares in the last quarter. Finally, Nuveen Asset Management LLC raised its holdings in shares of Alphatec by 78.4% during the fourth quarter. Nuveen Asset Management LLC now owns 2,584,996 shares of the medical technology company’s stock valued at $23,730,000 after purchasing an additional 1,136,330 shares during the period. 66.35% of the stock is owned by institutional investors and hedge funds.

Alphatec Trading Down 3.0%

ATEC stock opened at $10.90 on Friday. The firm has a 50-day moving average price of $11.87 and a 200-day moving average price of $10.88. Alphatec has a 12 month low of $4.88 and a 12 month high of $13.14. The stock has a market capitalization of $1.59 billion, a P/E ratio of -9.48 and a beta of 1.10.

Alphatec (NASDAQ:ATEC) last issued its quarterly earnings data on Thursday, May 1st. The medical technology company reported ($0.35) EPS for the quarter, missing the consensus estimate of ($0.12) by ($0.23). Alphatec had a negative net margin of 25.77% and a negative return on equity of 1,657.19%. The company had revenue of $169.18 million during the quarter, compared to the consensus estimate of $167.57 million. During the same period in the previous year, the company earned ($0.34) EPS. Alphatec’s revenue for the quarter was up 22.2% on a year-over-year basis. As a group, equities analysts predict 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.