Alphatec Holdings, Inc. (NASDAQ:ATEC) Receives $19.79 Consensus Target Price from Brokerages

Alphatec Holdings, Inc. (NASDAQ:ATEC) has earned a consensus rating of “Buy” from the eight ratings firms that are currently covering the company, Marketbeat reports. One research analyst has rated the stock with a sell recommendation and six have issued a buy recommendation on the company. The average 12-month price objective among brokers that have updated their coverage on the stock in the last year is $19.79.

A number of research analysts have issued reports on the stock. Piper Sandler upped their target price on shares of Alphatec from $19.00 to $22.00 and gave the company an “overweight” rating in a research report on Wednesday, August 4th. Canaccord Genuity lifted their price objective on Alphatec from $21.00 to $24.00 and gave the stock a “buy” rating in a research note on Wednesday, August 4th. Cowen assumed coverage on Alphatec in a research note on Wednesday, August 4th. They issued an “outperform” rating and a $22.50 target price on the stock. Needham & Company LLC assumed coverage on Alphatec in a research report on Wednesday, August 25th. They set a “buy” rating and a $18.00 target price for the company. Finally, Zacks Investment Research cut Alphatec from a “hold” rating to a “sell” rating in a research note on Tuesday, July 13th.

NASDAQ:ATEC traded down $0.22 during mid-day trading on Thursday, reaching $14.14. 950,676 shares of the company were exchanged, compared to its average volume of 720,453. The company has a quick ratio of 1.11, a current ratio of 1.92 and a debt-to-equity ratio of 0.26. The stock has a market cap of $1.42 billion, a PE ratio of -11.40 and a beta of 1.58. Alphatec has a 12 month low of $6.09 and a 12 month high of $19.36. The company has a fifty day moving average of $13.92 and a 200 day moving average of $15.04.

Alphatec (NASDAQ:ATEC) last released its quarterly earnings results on Monday, August 2nd. The medical technology company reported ($0.39) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.19) by ($0.20). Alphatec had a negative net margin of 54.09% and a negative return on equity of 86.64%. The company had revenue of $62.25 million for the quarter, compared to the consensus estimate of $51.20 million. On average, equities research analysts anticipate that Alphatec will post -1.13 EPS for the current fiscal year.

In other Alphatec news, major shareholder Jennifer N. Pritzker purchased 2,000 shares of the firm’s stock in a transaction dated Friday, August 27th. The stock was bought at an average cost of $13.26 per share, with a total value of $26,520.00. Following the purchase, the insider now directly owns 38,200 shares of the company’s stock, valued at $506,532. The acquisition was disclosed in a filing with the SEC, which is accessible through this link. Also, SVP Scott Lish sold 10,000 shares of the firm’s stock in a transaction on Tuesday, August 3rd. The shares were sold at an average price of $14.24, for a total transaction of $142,400.00. The disclosure for this sale can be found here. Insiders have bought 5,631 shares of company stock valued at $75,312 in the last three months. 34.38% of the stock is owned by insiders.

Large investors have recently bought and sold shares of the business. Morgan Stanley raised its stake in shares of Alphatec by 69.8% during the 2nd quarter. Morgan Stanley now owns 542,189 shares of the medical technology company’s stock worth $8,306,000 after purchasing an additional 222,958 shares in the last quarter. Wells Fargo & Company MN raised its position in Alphatec by 30.7% during the second quarter. Wells Fargo & Company MN now owns 131,286 shares of the medical technology company’s stock worth $2,011,000 after acquiring an additional 30,804 shares in the last quarter. Metropolitan Life Insurance Co NY raised its position in Alphatec by 135,528.6% during the second quarter. Metropolitan Life Insurance Co NY now owns 18,988 shares of the medical technology company’s stock worth $291,000 after acquiring an additional 18,974 shares in the last quarter. Millennium Management LLC lifted its stake in Alphatec by 78.8% in the second quarter. Millennium Management LLC now owns 431,856 shares of the medical technology company’s stock valued at $6,616,000 after acquiring an additional 190,288 shares during the last quarter. Finally, MetLife Investment Management LLC grew its position in shares of Alphatec by 17.9% in the 2nd quarter. MetLife Investment Management LLC now owns 25,663 shares of the medical technology company’s stock valued at $393,000 after acquiring an additional 3,900 shares during the period. 44.75% of the stock is currently owned by hedge funds and other institutional investors.

Alphatec Company Profile

Alphatec Holdings, Inc engages in the design, development, and marketing of spinal fusion technology products and solutions for the treatment of spinal disorders. It offers intra-operative information and neuromonitoring technologies, access systems, interbody implants, fixation systems, and various biologics offerings.

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Analyst Recommendations for Alphatec (NASDAQ:ATEC)

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