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

Shares of Alphatec Holdings, Inc. (NASDAQ:ATEC) have been assigned a consensus recommendation of “Moderate Buy” from the ten ratings firms that are presently covering the stock, Marketbeat Ratings reports. One investment analyst has rated the stock with a hold rating and nine have given a buy rating to the company. The average 1-year price target among brokers that have issued ratings on the stock in the last year is $17.50.

A number of equities research analysts have recently weighed in on the stock. Barclays began coverage on shares of Alphatec in a research note on Monday, July 8th. They set an “overweight” rating and a $19.00 target price on the stock. Stifel Nicolaus cut their price objective on Alphatec from $19.00 to $16.00 and set a “buy” rating on the stock in a research report on Thursday, August 1st. Piper Sandler decreased their target price on Alphatec from $17.00 to $12.00 and set an “overweight” rating for the company in a research report on Thursday, August 1st. Lake Street Capital lowered their target price on Alphatec from $32.00 to $18.00 and set a “buy” rating for the company in a research note on Tuesday, September 3rd. Finally, HC Wainwright reaffirmed a “buy” rating and issued a $20.00 price target on shares of Alphatec in a research note on Thursday, August 1st.

Alphatec Trading Up 1.0 %

ATEC opened at $6.21 on Friday. The firm has a market capitalization of $868.68 million, a price-to-earnings ratio of -4.17 and a beta of 1.40. Alphatec has a one year low of $5.28 and a one year high of $17.34. The business has a 50 day simple moving average of $7.51 and a two-hundred day simple moving average of $10.36. The company has a debt-to-equity ratio of 30.21, a current ratio of 2.22 and a quick ratio of 1.21.

Alphatec (NASDAQ:ATEC) last announced its earnings results on Wednesday, July 31st. The medical technology company reported ($0.29) EPS for the quarter, missing analysts’ consensus estimates of ($0.26) by ($0.03). The business had revenue of $145.57 million for the quarter, compared to the consensus estimate of $144.55 million. Alphatec had a negative net margin of 33.48% and a negative return on equity of 816.57%. Alphatec’s revenue was up 24.5% compared to the same quarter last year. During the same quarter in the prior year, the company earned ($0.43) EPS. Analysts predict that Alphatec will post -1.08 EPS for the current year.

Insider Transactions at Alphatec

In other news, Director David M. Demski bought 50,000 shares of the firm’s stock in a transaction on Wednesday, August 21st. The stock was acquired at an average cost of $5.67 per share, with a total value of $283,500.00. Following the completion of the acquisition, the director now owns 288,441 shares of the company’s stock, valued at $1,635,460.47. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders own 22.80% of the company’s stock.

Institutional Investors Weigh In On Alphatec

Several institutional investors and hedge funds have recently made changes to their positions in ATEC. First Light Asset Management LLC lifted its position in Alphatec by 97.0% during the fourth quarter. First Light Asset Management LLC now owns 5,976,851 shares of the medical technology company’s stock valued at $90,310,000 after purchasing an additional 2,943,310 shares during the period. Artisan Partners Limited Partnership purchased a new position in Alphatec in the fourth quarter worth about $19,050,000. Point72 Asset Management L.P. grew its stake in shares of Alphatec by 65.2% during the 2nd quarter. Point72 Asset Management L.P. now owns 3,192,789 shares of the medical technology company’s stock valued at $33,365,000 after purchasing an additional 1,260,137 shares during the period. Magnetar Financial LLC purchased a new stake in shares of Alphatec during the 2nd quarter valued at about $10,957,000. Finally, Goldman Sachs Group Inc. lifted its stake in shares of Alphatec by 93.9% in the 4th quarter. Goldman Sachs Group Inc. now owns 1,451,499 shares of the medical technology company’s stock worth $21,932,000 after purchasing an additional 702,950 shares during the period. Institutional investors own 66.35% of the company’s stock.

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.