Alphatec Holdings, Inc. (NASDAQ:ATEC) Stock Has Average Target Price of $16.13 According to Analysts

Shares of Alphatec Holdings, Inc. (NASDAQ:ATEC) have earned an average recommendation of “Moderate Buy” from the fifteen ratings firms that are currently covering the stock, Marketbeat.com reports. One analyst has rated the stock with a sell recommendation, three have given a hold recommendation and eleven have given a buy recommendation to the company. The average 12 month price target among brokerages that have updated their coverage on the stock in the last year is $15.63.

A number of equities research analysts have recently issued reports on ATEC shares. Needham & Company LLC reduced their price objective on Alphatec from $14.00 to $12.00 and set a “buy” rating for the company in a report on Friday, October 30th. Canaccord Genuity Group lowered their price objective on Alphatec from $19.00 to $16.00 and set a “buy” rating on the stock in a research report on Friday, October 30th. UBS Group downgraded Alphatec from a “buy” rating to a “neutral” rating and lowered their price target for the stock from $15.00 to $8.50 in a report on Wednesday. TD Cowen lowered their price objective on Alphatec from $13.00 to $10.00 and set a “buy” rating for the company in a research report on Friday, October 30th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Alphatec in a research report on Friday, October 30th.

Alphatec Price Performance

Shares of NASDAQ ATEC opened at $7.44 on Wednesday. The firm has a fifty day moving average of $9.97 and a 200 day moving average of $10.38. Alphatec has a one year low of $6.81 and a one year high of $23.29.

Alphatec (NASDAQ:ATEC) last issued its quarterly earnings results on Thursday, October 29th. The medical technology company reported $0.09 earnings per share for the quarter, missing the consensus estimate of $0.10 by ($0.01). Alphatec had a negative return on equity of 6,752.24% and a negative net margin of 10.35%. The company had revenue of $221.17 million for the quarter, compared to analyst estimates of $225.16 million. During the same period in the prior year, the business earned $0.03 earnings per share. Alphatec’s revenue for the quarter was up 12.6% compared to the same quarter last year. As a group, equities research analysts forecast that Alphatec will post -0.40 earnings per share for the current fiscal year.

Insider Buying and Selling at Alphatec

In other news, Director David Demski acquired 60,000 shares of Alphatec stock in a transaction that occurred on Friday, October 30th. The stock was bought at an average price of $6.81 per share, with a total value of $408,600.00. Following the completion of the purchase, the director owned 491,635 shares in the company, valued at approximately $3,348,034.35. The trade was a 13.90% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Patrick Miles purchased 115,000 shares of the company’s stock in a transaction dated Thursday, September 10th. The stock was bought at an average cost of $8.81 per share, for a total transaction of $1,013,150.00. Following the completion of the transaction, the chief executive officer owned 5,893,551 shares in the company, valued at approximately $51,922,184.31. This represents a 1.99% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. 13.48% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Alphatec

A number of large investors have recently modified their holdings of the stock. Paradigm Capital Management Inc. NY acquired a new position in Alphatec in the 2nd quarter worth approximately $9,413,000. Bank of America Corp DE lifted its holdings in 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 worth $27,863,000 after purchasing an additional 543,059 shares during the last quarter. FirstWave Capital Management LLC bought a new stake in shares of Alphatec during the second quarter worth about $1,244,000. Emerald Advisers LLC increased its holdings in shares of Alphatec by 10.4% during the first quarter. Emerald Advisers LLC now owns 1,807,307 shares of the medical technology company’s stock valued at $19,664,000 after acquiring an additional 169,578 shares in the last quarter. Finally, Great Lakes Advisors LLC bought a new stake in Alphatec in the 2nd quarter valued at about $2,423,000. Institutional investors and hedge funds own 66.35% of the company’s stock.

Alphatec Company Profile

Alphatec Holdings, Inc is a medical technology company focused on the design, development and commercialization of products and procedural solutions for spine surgery. The company aims to improve the treatment of spinal disorders through technologies that support spinal fusion, deformity correction, reconstruction and minimally invasive procedures.

Its portfolio includes spinal implants, surgical instruments, navigation and imaging technologies, and intraoperative monitoring solutions.