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

Alphatec Holdings, Inc. (NASDAQ:ATEC) has earned a consensus rating of “Moderate Buy” from the nine research firms that are currently covering the company, MarketBeat reports. One equities research analyst has rated the stock with a hold recommendation and eight have given a buy recommendation to the company. The average 1 year price objective among brokers that have issued a report on the stock in the last year is $17.67.

ATEC has been the subject of a number of recent analyst reports. StockNews.com raised shares of Alphatec from a “sell” rating to a “hold” rating in a research report on Friday, February 28th. HC Wainwright reiterated a “buy” rating and set a $20.00 price target on shares of Alphatec in a report on Tuesday, January 14th. Piper Sandler upped their price objective on Alphatec from $12.00 to $13.00 and gave the company an “overweight” rating in a research note on Thursday, February 27th. Needham & Company LLC reissued a “buy” rating and issued a $16.00 price target on shares of Alphatec in a report on Thursday, February 27th. Finally, Barclays raised their price objective on shares of Alphatec from $20.00 to $21.00 and gave the stock an “overweight” rating in a report on Wednesday, January 22nd.

Insider Activity

In related news, EVP David Sponsel sold 58,283 shares of the business’s stock in a transaction that occurred on Monday, January 13th. The shares were sold at an average price of $10.71, for a total transaction of $624,210.93. Following the completion of the transaction, the executive vice president now owns 502,311 shares of the company’s stock, valued at approximately $5,379,750.81. The trade was a 10.40 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, COO Scott Lish sold 27,453 shares of the stock in a transaction that occurred on Thursday, February 6th. The stock was sold at an average price of $11.49, for a total transaction of $315,434.97. Following the completion of the sale, the chief operating officer now owns 867,677 shares in the company, valued at $9,969,608.73. This represents a 3.07 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 337,083 shares of company stock valued at $3,825,680 over the last quarter. Company insiders own 22.80% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in ATEC. Vanguard Group Inc. boosted its stake in Alphatec by 0.8% during the fourth quarter. Vanguard Group Inc. now owns 5,968,980 shares of the medical technology company’s stock valued at $54,795,000 after buying an additional 47,797 shares during the period. American Century Companies Inc. boosted its position in shares of Alphatec by 36.5% during the 4th quarter. American Century Companies Inc. now owns 4,989,057 shares of the medical technology company’s stock valued at $45,800,000 after acquiring an additional 1,334,780 shares during the last quarter. Royal Bank of Canada grew its holdings in shares of Alphatec by 171.2% during the fourth quarter. Royal Bank of Canada now owns 3,185,283 shares of the medical technology company’s stock worth $29,240,000 after purchasing an additional 2,010,806 shares in the last quarter. State Street Corp increased its position in shares of Alphatec by 10.1% in the third quarter. State Street Corp now owns 3,138,960 shares of the medical technology company’s stock worth $17,453,000 after purchasing an additional 287,350 shares during the last quarter. Finally, Nuveen Asset Management LLC raised its stake in Alphatec by 78.4% in the fourth quarter. Nuveen Asset Management LLC now owns 2,584,996 shares of the medical technology company’s stock valued at $23,730,000 after purchasing an additional 1,136,330 shares in the last quarter. 66.35% of the stock is currently owned by hedge funds and other institutional investors.

Alphatec Stock Performance

Shares of ATEC opened at $9.75 on Tuesday. Alphatec has a 52 week low of $4.88 and a 52 week high of $13.79. The company has a debt-to-equity ratio of 30.21, a quick ratio of 1.15 and a current ratio of 2.32. The stock has a 50 day moving average price of $10.47 and a two-hundred day moving average price of $9.32. The firm has a market capitalization of $1.41 billion, a P/E ratio of -7.62 and a beta of 1.20.

Alphatec (NASDAQ:ATEC) last released its quarterly earnings results on Wednesday, February 26th. The medical technology company reported ($0.23) EPS for the quarter, missing analysts’ consensus estimates of ($0.19) by ($0.04). The company had revenue of $176.79 million during the quarter, compared to analysts’ expectations of $172.74 million. Alphatec had a negative net margin of 31.06% and a negative return on equity of 541.39%. Equities analysts forecast that Alphatec will post -1.08 earnings per share for the current fiscal year.

Alphatec Company Profile

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.