Brokerages Set Alphatec Holdings, Inc. (NASDAQ:ATEC) Target Price at $17.40

Alphatec Holdings, Inc. (NASDAQ:ATEC – Get Free Report) has been assigned a consensus rating of “Moderate Buy” from the fifteen brokerages that are presently covering the stock, Marketbeat Ratings reports. One analyst has rated the stock with a sell recommendation, one has assigned a hold recommendation and thirteen have issued a buy recommendation on the company. The average 12 month price objective among brokerages that have issued a report on the stock in the last year is $17.40.

A number of research analysts have commented on ATEC shares. Needham & Company LLC dropped their price objective on shares of Alphatec from $25.00 to $14.00 and set a “buy” rating on the stock in a research note on Wednesday, May 6th. TD Cowen increased their target price on shares of Alphatec from $11.00 to $13.00 and gave the stock a “buy” rating in a research note on Wednesday, August 5th. Canaccord Genuity Group lowered their price target on Alphatec from $25.00 to $23.00 and set a “buy” rating on the stock in a report on Wednesday, May 6th. HC Wainwright restated a “buy” rating and issued a $24.00 price target on shares of Alphatec in a research report on Thursday, May 7th. Finally, Lake Street Capital reaffirmed a “buy” rating and set a $15.00 price objective on shares of Alphatec in a research note on Wednesday, May 6th.

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Insider Activity at Alphatec

In other Alphatec news, Director Karen K. Mcginnis sold 6,050 shares of the business’s stock in a transaction on Thursday, June 11th. The shares were sold at an average price of $8.01, for a total value of $48,460.50. Following the transaction, the director directly owned 94,671 shares of the company’s stock, valued at approximately $758,314.71. The trade was a 6.01% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through 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 company’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 owned 630,398 shares of the company’s stock, valued at approximately $6,083,340.70. The trade was a 1.28% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 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. Company insiders own 13.48% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in ATEC. Universal Beteiligungs und Servicegesellschaft mbH acquired a new position in Alphatec during the fourth quarter worth about $3,691,000. Bank of America Corp DE lifted its position in shares of Alphatec by 26.9% during the 1st quarter. Bank of America Corp DE now owns 2,560,971 shares of the medical technology company’s stock valued at $27,863,000 after acquiring an additional 543,059 shares during the period. Pier Capital LLC purchased a new stake in shares of Alphatec during the 4th quarter worth approximately $4,835,000. Jefferies Financial Group Inc. boosted its stake in shares of Alphatec by 983.5% during the 4th quarter. Jefferies Financial Group Inc. now owns 595,937 shares of the medical technology company’s stock worth $12,539,000 after acquiring an additional 540,937 shares in the last quarter. Finally, Emerald Advisers LLC grew its holdings in shares of Alphatec by 10.4% in the 1st quarter. Emerald Advisers LLC now owns 1,807,307 shares of the medical technology company’s stock worth $19,664,000 after acquiring an additional 169,578 shares during the period. 66.35% of the stock is currently owned by institutional investors and hedge funds.

Alphatec Price Performance

Alphatec stock opened at $9.48 on Friday. Alphatec has a fifty-two week low of $6.82 and a fifty-two week high of $23.29. The company has a debt-to-equity ratio of 40.35, a quick ratio of 1.07 and a current ratio of 1.89. The company has a market capitalization of $1.46 billion, a P/E ratio of -13.35 and a beta of 0.85. The stock has a 50-day simple moving average of $9.12 and a 200-day simple moving average of $10.23.

Alphatec (NASDAQ:ATEC – Get Free Report) last issued its quarterly earnings data 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 return on equity of 6,752.24% and a negative net margin of 13.49%.The company had revenue of $213.51 million during the quarter, compared to analysts’ expectations of $211.26 million. During the same quarter in the previous year, the business earned $0.02 earnings per share. The firm’s revenue for the quarter was up 15.1% on a year-over-year basis. Equities research analysts expect that Alphatec will post -0.45 earnings per share for the current year.

About Alphatec

(Get Free Report)

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.

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