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

Alphatec Holdings, Inc. (NASDAQ:ATEC) has been given a consensus recommendation of “Moderate Buy” by the nine analysts that are currently covering the company, MarketBeat Ratings reports. One analyst has rated the stock with a hold recommendation and eight have given a buy recommendation to the company. The average 12 month price target among brokerages that have issued ratings on the stock in the last year is $17.00.

A number of research analysts have issued reports on the company. Lake Street Capital cut their price objective on Alphatec from $32.00 to $18.00 and set a “buy” rating for the company in a report on Tuesday, September 3rd. Piper Sandler reduced their price target on shares of Alphatec from $17.00 to $12.00 and set an “overweight” rating on the stock in a research report on Thursday, August 1st. Canaccord Genuity Group reaffirmed a “buy” rating and set a $20.00 price objective on shares of Alphatec in a report on Friday, August 30th. Morgan Stanley cut shares of Alphatec from an “overweight” rating to an “equal weight” rating in a research note on Thursday, August 1st. Finally, HC Wainwright restated a “buy” rating and set a $20.00 price target on shares of Alphatec in a research report on Thursday, October 31st.

Alphatec Trading Down 0.1 %

Shares of ATEC opened at $9.40 on Friday. The company has a current ratio of 2.32, a quick ratio of 1.15 and a debt-to-equity ratio of 30.21. The stock has a market cap of $1.33 billion, a PE ratio of -7.34 and a beta of 1.31. Alphatec has a 1 year low of $4.88 and a 1 year high of $17.34. The stock has a 50 day simple moving average of $6.07 and a 200-day simple moving average of $8.52.

Insider Buying and Selling

In other news, Director David M. Demski bought 50,000 shares of the stock in a transaction dated Wednesday, August 21st. The stock was bought at an average cost of $5.67 per share, with a total value of $283,500.00. Following the purchase, the director now owns 288,441 shares of the company’s stock, valued at approximately $1,635,460.47. This represents a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available at the SEC website. 22.80% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Alphatec

Several hedge funds have recently added to or reduced their stakes in ATEC. BNP PARIBAS ASSET MANAGEMENT Holding S.A. lifted its position in Alphatec by 11.3% during the 3rd quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 2,928,094 shares of the medical technology company’s stock valued at $16,280,000 after purchasing an additional 297,850 shares during the period. Jennison Associates LLC bought a new stake in shares of Alphatec during the third quarter worth approximately $686,000. Wrapmanager Inc. lifted its holdings in Alphatec by 9.5% in the third quarter. Wrapmanager Inc. now owns 38,399 shares of the medical technology company’s stock valued at $213,000 after buying an additional 3,325 shares during the period. Royce & Associates LP boosted its stake in Alphatec by 15.9% in the third quarter. Royce & Associates LP now owns 1,212,286 shares of the medical technology company’s stock valued at $6,740,000 after acquiring an additional 165,954 shares during the last quarter. Finally, Zions Bancorporation N.A. grew its holdings in Alphatec by 108.2% during the 3rd quarter. Zions Bancorporation N.A. now owns 173,180 shares of the medical technology company’s stock worth $963,000 after acquiring an additional 89,992 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.