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

Shares of Alphatec Holdings, Inc. (NASDAQ:ATEC) have received a consensus recommendation of “Moderate Buy” from the eleven ratings firms that are covering the stock, Marketbeat.com reports. One research analyst has rated the stock with a sell recommendation, one has given a hold recommendation and nine have assigned a buy recommendation to the company. The average 1 year target price among analysts that have issued ratings on the stock in the last year is $22.4545.

A number of research firms have issued reports on ATEC. Weiss Ratings reiterated a “sell (e+)” rating on shares of Alphatec in a research report on Monday, December 15th. JPMorgan Chase & Co. assumed coverage on shares of Alphatec in a report on Friday, October 24th. They set an “overweight” rating and a $19.00 price target on the stock. Loop Capital set a $25.00 price objective on shares of Alphatec in a research report on Wednesday, December 10th. Needham & Company LLC raised their target price on shares of Alphatec from $16.00 to $22.00 and gave the company a “buy” rating in a research report on Friday, October 31st. Finally, Piper Sandler reaffirmed an “overweight” rating and set a $25.00 target price (up previously from $20.00) on shares of Alphatec in a research note on Friday, October 31st.

Insider Buying and Selling at Alphatec

In other news, EVP Craig E. Hunsaker sold 32,584 shares of the company’s stock in a transaction that occurred on Wednesday, December 10th. The stock was sold at an average price of $20.84, for a total value of $679,050.56. Following the completion of the transaction, the executive vice president owned 1,256,558 shares of the company’s stock, valued at $26,186,668.72. This represents a 2.53% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, EVP David Sponsel sold 21,106 shares of the firm’s stock in a transaction that occurred on Wednesday, December 10th. The shares were sold at an average price of $20.79, for a total transaction of $438,793.74. Following the completion of the transaction, the executive vice president owned 439,767 shares of the company’s stock, valued at approximately $9,142,755.93. This trade represents a 4.58% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 3,403,342 shares of company stock worth $69,111,381 over the last three months. 20.90% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Alphatec

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Vanguard Group Inc. raised its stake in shares of Alphatec by 2.4% during the third quarter. Vanguard Group Inc. now owns 6,815,058 shares of the medical technology company’s stock valued at $99,091,000 after acquiring an additional 158,295 shares during the last quarter. American Century Companies Inc. increased its holdings in Alphatec by 2.6% in the third quarter. American Century Companies Inc. now owns 6,336,491 shares of the medical technology company’s stock valued at $92,133,000 after purchasing an additional 159,330 shares during the period. Royal Bank of Canada raised its position in Alphatec by 10.8% during the 1st quarter. Royal Bank of Canada now owns 3,527,939 shares of the medical technology company’s stock worth $35,773,000 after purchasing an additional 342,656 shares during the last quarter. Geode Capital Management LLC lifted its holdings in Alphatec by 7.4% during the 2nd quarter. Geode Capital Management LLC now owns 2,697,541 shares of the medical technology company’s stock worth $29,946,000 after buying an additional 185,297 shares during the period. Finally, Next Century Growth Investors LLC lifted its holdings in Alphatec by 22.8% during the 2nd quarter. Next Century Growth Investors LLC now owns 2,060,735 shares of the medical technology company’s stock worth $22,874,000 after buying an additional 382,057 shares during the period. 66.35% of the stock is currently owned by institutional investors and hedge funds.

Alphatec Stock Up 0.7%

NASDAQ ATEC opened at $20.01 on Friday. The business has a fifty day moving average price of $19.04 and a two-hundred day moving average price of $15.36. The company has a debt-to-equity ratio of 43.02, a current ratio of 1.99 and a quick ratio of 1.24. Alphatec has a fifty-two week low of $8.70 and a fifty-two week high of $22.66. The stock has a market capitalization of $2.97 billion, a PE ratio of -19.24 and a beta of 1.08.

Alphatec (NASDAQ:ATEC) last issued its quarterly earnings results on Thursday, October 30th. The medical technology company reported $0.03 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.06) by $0.09. The business had revenue of $196.50 million during the quarter, compared to the consensus estimate of $182.78 million. During the same quarter in the previous year, the business posted ($0.28) EPS. The company’s revenue for the quarter was up 30.4% on a year-over-year basis. Equities analysts expect that Alphatec will post -1.08 earnings per share for the current fiscal year.

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.