Alphatec Holdings, Inc. (NASDAQ:ATEC) Stock Has Average Price Target of $17.40

Shares of Alphatec Holdings, Inc. (NASDAQ:ATEC) have been given an average rating of “Moderate Buy” by the fifteen analysts that are covering the stock, Marketbeat Ratings reports. One analyst has rated the stock with a sell rating, one has assigned a hold rating and thirteen have assigned a buy rating to the company. The average 12-month price objective among analysts that have issued a report on the stock in the last year is $17.40.

Several equities research analysts have weighed in on ATEC shares. Stephens began coverage on Alphatec in a report on Thursday, July 23rd. They issued an “overweight” rating and a $15.00 target price for the company. BMO Capital Markets lifted their price objective on Alphatec from $11.00 to $12.00 and gave the company an “outperform” rating in a report on Wednesday, August 5th. Wall Street Zen downgraded Alphatec from a “buy” rating to a “hold” rating in a report on Sunday. Stifel Nicolaus lowered their price objective on shares of Alphatec from $16.00 to $13.00 and set a “buy” rating for the company in a research note on Wednesday, July 8th. Finally, UBS Group upped their price objective on shares of Alphatec from $15.00 to $16.00 and gave the stock a “buy” rating in a research note on Wednesday, August 5th.

Alphatec Price Performance

Shares of ATEC stock opened at $11.25 on Friday. The company has a market capitalization of $1.74 billion, a P/E ratio of -15.85 and a beta of 0.78. The company’s 50-day simple moving average is $9.84 and its two-hundred day simple moving average is $9.42. Alphatec has a one year low of $6.82 and a one year high of $23.29.

Alphatec (NASDAQ:ATEC) last posted its quarterly earnings results on Tuesday, August 4th. The medical technology company reported $0.07 earnings per share for the quarter, meeting the consensus estimate of $0.07. Alphatec had a negative net margin of 13.49% and a negative return on equity of 6,752.24%. The firm had revenue of $213.51 million during the quarter, compared to the consensus estimate of $211.26 million. During the same quarter in the previous year, the firm posted $0.02 earnings per share. The company’s revenue was up 15.1% on a year-over-year basis. On average, research analysts expect that Alphatec will post -0.45 EPS for the current fiscal year.

Insider Activity

In other Alphatec news, CEO Patrick Miles purchased 115,000 shares of the stock in a transaction dated Thursday, September 10th. The stock was purchased at an average price of $8.81 per share, with a total value of $1,013,150.00. Following the transaction, the chief executive officer owned 5,893,551 shares of the company’s stock, valued at approximately $51,922,184.31. This trade represents a 1.99% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, General Counsel Tyson Marshall sold 8,168 shares of the company’s stock in a transaction that occurred 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 completion of the sale, the general counsel directly owned 630,398 shares of the company’s stock, valued at $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. Insiders own 13.48% of the company’s stock.

Institutional Trading of Alphatec

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Congress Asset Management Co. grew its position in shares of Alphatec by 20.7% in the 3rd quarter. Congress Asset Management Co. now owns 532,069 shares of the medical technology company’s stock worth $5,491,000 after buying an additional 91,431 shares during the last quarter. Park National Corp OH bought a new position in shares of Alphatec during the 3rd quarter worth approximately $127,000. Integrated Wealth Concepts LLC purchased a new stake in Alphatec during the second quarter valued at approximately $52,000. Allworth Financial LP lifted its position in Alphatec by 82.6% during the second quarter. Allworth Financial LP now owns 6,666 shares of the medical technology company’s stock valued at $58,000 after acquiring an additional 3,015 shares during the last quarter. Finally, VIRGINIA RETIREMENT SYSTEMS ET Al purchased a new stake in Alphatec during the second quarter valued at approximately $218,000. Institutional investors own 66.35% of the company’s stock.

About Alphatec

Alphatec Holdings, Inc (NASDAQ: ATEC) is a medical technology company focused on the surgical treatment of spinal disorders. Through its Alphatec Spine business, the company develops and markets implants, biologics, instruments and procedural technologies designed to support spine surgery and improve patient outcomes.

Its product portfolio includes systems for spinal fusion and reconstruction, including interbody implants, fixation devices and navigation or imaging-enabled surgical solutions.