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

Shares of Alphatec Holdings, Inc. (NASDAQ:ATEC) have received a consensus rating of “Moderate Buy” from the ten ratings firms that are covering the stock, Marketbeat Ratings reports. One investment analyst has rated the stock with a hold recommendation and nine have assigned a buy recommendation to the company. The average 12-month price target among brokerages that have issued a report on the stock in the last year is $17.50.

ATEC has been the subject of a number of research reports. Needham & Company LLC reduced their price objective on Alphatec from $23.00 to $13.00 and set a “buy” rating for the company in a research note on Thursday, August 22nd. Morgan Stanley cut Alphatec from an “overweight” rating to an “equal weight” rating in a research note on Thursday, August 1st. Stifel Nicolaus reduced their price objective on Alphatec from $19.00 to $16.00 and set a “buy” rating for the company in a research note on Thursday, August 1st. Piper Sandler reduced their price objective on Alphatec from $17.00 to $12.00 and set an “overweight” rating for the company in a research note on Thursday, August 1st. Finally, Wells Fargo & Company dropped their target price on Alphatec from $26.00 to $19.00 and set an “overweight” rating on the stock in a report on Thursday, August 1st.

Alphatec Stock Up 3.3 %

Shares of NASDAQ:ATEC opened at $5.32 on Tuesday. The business has a 50-day moving average price of $5.90 and a 200 day moving average price of $9.36. The company has a current ratio of 2.22, a quick ratio of 1.21 and a debt-to-equity ratio of 30.21. The company has a market capitalization of $744.18 million, a price-to-earnings ratio of -3.57 and a beta of 1.39. Alphatec has a 12-month low of $4.88 and a 12-month high of $17.34.

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

Insider Activity

In related news, Director David M. Demski acquired 50,000 shares of Alphatec stock in a transaction dated Wednesday, August 21st. The shares were acquired at an average cost of $5.67 per share, for a total transaction of $283,500.00. Following the completion of the transaction, the director now directly owns 288,441 shares of the company’s stock, valued at $1,635,460.47. The trade was a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Company insiders own 22.80% of the company’s stock.

Hedge Funds Weigh In On Alphatec

Several large investors have recently added to or reduced their stakes in ATEC. Point72 Asset Management L.P. lifted its position in Alphatec by 65.2% during the second quarter. Point72 Asset Management L.P. now owns 3,192,789 shares of the medical technology company’s stock worth $33,365,000 after buying an additional 1,260,137 shares during the period. Magnetar Financial LLC purchased a new position in Alphatec during the second quarter worth about $10,957,000. Goldman Sachs Group Inc. raised its holdings 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. BNP PARIBAS ASSET MANAGEMENT Holding S.A. lifted its stake in shares of Alphatec by 48.1% in the 1st quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 2,125,042 shares of the medical technology company’s stock valued at $29,305,000 after purchasing an additional 690,022 shares in the last quarter. Finally, Norden Group LLC lifted its stake in shares of Alphatec by 1,012.2% in the 1st quarter. Norden Group LLC now owns 433,764 shares of the medical technology company’s stock valued at $5,982,000 after purchasing an additional 394,763 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, 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.