Alphatec Holdings, Inc. (NASDAQ:ATEC) Receives $22.82 Consensus Price Target from Analysts

Shares of Alphatec Holdings, Inc. (NASDAQ:ATEC) have been assigned an average rating of “Moderate Buy” from the twelve ratings firms that are currently covering the company, MarketBeat.com reports. One analyst has rated the stock with a sell rating, one has given a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company. The average 12 month price objective among brokers that have issued ratings on the stock in the last year is $22.8182.

ATEC has been the subject of several research reports. Wall Street Zen upgraded Alphatec from a “hold” rating to a “buy” rating in a research note on Saturday, January 31st. Stifel Nicolaus cut their price objective on Alphatec from $24.00 to $20.00 and set a “buy” rating for the company in a research note on Monday, March 9th. HC Wainwright reiterated a “buy” rating and set a $24.00 price objective on shares of Alphatec in a research note on Monday, January 12th. Lake Street Capital reiterated a “buy” rating on shares of Alphatec in a research note on Wednesday, February 25th. Finally, Wells Fargo & Company upgraded Alphatec to a “strong-buy” rating in a research note on Wednesday, March 18th.

Alphatec Price Performance

Shares of Alphatec stock opened at $10.62 on Friday. The company has a quick ratio of 1.28, a current ratio of 2.06 and a debt-to-equity ratio of 40.35. Alphatec has a twelve month low of $10.11 and a twelve month high of $23.29. The business has a 50-day moving average price of $12.19 and a 200 day moving average price of $16.11. The firm has a market cap of $1.61 billion, a PE ratio of -11.18 and a beta of 1.12.

Alphatec (NASDAQ:ATEC) last announced its quarterly earnings results on Tuesday, February 24th. The medical technology company reported $0.06 earnings per share for the quarter, beating the consensus estimate of $0.04 by $0.02. The business had revenue of $212.93 million during the quarter, compared to analysts’ expectations of $212.67 million. During the same quarter in the prior year, the firm earned ($0.23) EPS. Alphatec’s revenue for the quarter was up 20.4% on a year-over-year basis. Sell-side analysts predict that Alphatec will post -0.28 earnings per share for the current fiscal year.

Insider Transactions at Alphatec

In other Alphatec news, EVP Craig E. Hunsaker sold 82,765 shares of the business’s stock in a transaction that occurred on Monday, March 9th. The stock was sold at an average price of $12.45, for a total transaction of $1,030,424.25. Following the completion of the sale, the executive vice president directly owned 1,726,209 shares in the company, valued at approximately $21,491,302.05. The trade was a 4.58% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, COO Scott Lish sold 260,535 shares of the company’s stock in a transaction that occurred on Friday, March 13th. The shares were sold at an average price of $12.30, for a total value of $3,204,580.50. Following the completion of the sale, the chief operating officer owned 815,704 shares of the company’s stock, valued at $10,033,159.20. This trade represents a 24.21% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 726,972 shares of company stock valued at $9,184,386 in the last 90 days. Corporate insiders own 20.90% of the company’s stock.

Institutional Investors Weigh In On Alphatec

A number of large investors have recently made changes to their positions in ATEC. Millennium Management LLC grew its position in shares of Alphatec by 292.2% in the fourth quarter. Millennium Management LLC now owns 2,225,927 shares of the medical technology company’s stock valued at $46,834,000 after purchasing an additional 1,658,349 shares in the last quarter. Iron Triangle Partners LP purchased a new stake in shares of Alphatec in the fourth quarter valued at approximately $27,051,000. Morgan Stanley grew its position in shares of Alphatec by 22.0% in the fourth quarter. Morgan Stanley now owns 4,340,936 shares of the medical technology company’s stock valued at $91,333,000 after purchasing an additional 784,191 shares in the last quarter. Tudor Investment Corp ET AL grew its position in shares of Alphatec by 608.4% in the third quarter. Tudor Investment Corp ET AL now owns 900,491 shares of the medical technology company’s stock valued at $13,093,000 after purchasing an additional 773,367 shares in the last quarter. Finally, Assenagon Asset Management S.A. grew its position in shares of Alphatec by 7,083.2% in the third quarter. Assenagon Asset Management S.A. now owns 750,429 shares of the medical technology company’s stock valued at $10,911,000 after purchasing an additional 739,982 shares in the last quarter. 66.35% of the stock is currently owned by hedge funds and other institutional investors.

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.