Alphatec Holdings, Inc. (NASDAQ:ATEC) Receives Consensus Recommendation of “Buy” from Analysts

Alphatec Holdings, Inc. (NASDAQ:ATEC) has been assigned a consensus rating of “Buy” from the seven brokerages that are covering the company, Marketbeat reports. Seven research analysts have rated the stock with a buy rating. The average 12-month price objective among brokers that have covered the stock in the last year is $23.63.

Several equities research analysts recently weighed in on the company. Wells Fargo & Company assumed coverage on Alphatec in a research report on Friday, February 9th. They set an “overweight” rating and a $26.00 price target on the stock. HC Wainwright reaffirmed a “buy” rating and set a $20.00 price target on shares of Alphatec in a report on Monday, March 4th. Canaccord Genuity Group reaffirmed a “buy” rating and set a $25.00 price target on shares of Alphatec in a report on Wednesday, March 20th. Finally, Needham & Company LLC upped their price target on Alphatec from $22.00 to $23.00 and gave the company a “buy” rating in a report on Thursday, March 28th.

Alphatec Price Performance

ATEC opened at $12.79 on Tuesday. The company has a debt-to-equity ratio of 6.54, a quick ratio of 1.99 and a current ratio of 2.86. Alphatec has a 52-week low of $8.66 and a 52-week high of $19.14. The stock has a market capitalization of $1.76 billion, a PE ratio of -8.25 and a beta of 1.55. The stock’s 50 day moving average price is $13.88 and its 200-day moving average price is $13.46.

Alphatec (NASDAQ:ATEC) last posted its earnings results on Tuesday, February 27th. The medical technology company reported ($0.37) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.28) by ($0.09). The firm had revenue of $138.00 million during the quarter, compared to analysts’ expectations of $131.90 million. During the same quarter in the previous year, the business earned ($0.33) earnings per share. The business’s revenue for the quarter was up 30.3% on a year-over-year basis. On average, equities research analysts predict that Alphatec will post -1.1 EPS for the current year.

Insiders Place Their Bets

In other news, EVP Craig E. Hunsaker sold 41,560 shares of the company’s stock in a transaction dated Monday, February 26th. The stock was sold at an average price of $15.05, for a total value of $625,478.00. Following the completion of the transaction, the executive vice president now owns 1,188,444 shares of the company’s stock, valued at $17,886,082.20. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In related news, EVP David Sponsel sold 2,500 shares of the stock in a transaction that occurred on Wednesday, February 14th. The stock was sold at an average price of $16.16, for a total transaction of $40,400.00. Following the completion of the transaction, the executive vice president now directly owns 637,418 shares of the company’s stock, valued at $10,300,674.88. The sale was disclosed in a filing with the SEC, which is available through this link. Also, EVP Craig E. Hunsaker sold 41,560 shares of the firm’s stock in a transaction that occurred on Monday, February 26th. The shares were sold at an average price of $15.05, for a total value of $625,478.00. Following the completion of the sale, the executive vice president now directly owns 1,188,444 shares of the company’s stock, valued at $17,886,082.20. The disclosure for this sale can be found here. Insiders sold a total of 247,569 shares of company stock worth $3,490,745 over the last quarter. 29.12% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Alphatec

Several institutional investors have recently modified their holdings of ATEC. Cerity Partners LLC purchased a new stake in shares of Alphatec in the fourth quarter worth approximately $28,451,000. Vanguard Group Inc. increased its holdings in Alphatec by 1.8% during the 3rd quarter. Vanguard Group Inc. now owns 4,615,223 shares of the medical technology company’s stock worth $59,859,000 after purchasing an additional 80,101 shares during the period. American Century Companies Inc. increased its holdings in Alphatec by 24.5% during the 3rd quarter. American Century Companies Inc. now owns 2,655,328 shares of the medical technology company’s stock worth $34,440,000 after purchasing an additional 523,323 shares during the period. Assenagon Asset Management S.A. increased its holdings in Alphatec by 10.5% during the 3rd quarter. Assenagon Asset Management S.A. now owns 1,587,516 shares of the medical technology company’s stock worth $20,590,000 after purchasing an additional 151,249 shares during the period. Finally, abrdn plc increased its holdings in Alphatec by 276.7% during the 3rd quarter. abrdn plc now owns 1,382,770 shares of the medical technology company’s stock worth $17,935,000 after purchasing an additional 1,015,668 shares during the period. 66.35% of the stock is owned by institutional investors.

About Alphatec

Alphatec Holdings, Inc, a medical technology company, designs, develops, and advances technologies for the surgical treatment of spinal disorders in the United States and internationally. It manufactures and sells implants and instruments through third-party suppliers. The company offers Alpha InformatiX product platform, including EOS imaging system that provides full-body imaging; VEA alignment mobile application, which leverages EOS technology to more quickly quantify alignment parameters on a mobile device; SafeOp Neural InformatiX System that automates electromyographic and somatosensory evoked potential monitoring; and Valence, an intra-operative system that integrates navigation and robotics into spine procedures, as well as Sigma Prone TransPsoas (PTP) Access and PTP Patient Positioning Systems.