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

by · The Markets Daily

Shares of Alphatec Holdings, Inc. (NASDAQ:ATEC – Get Free Report) have earned a consensus recommendation of “Moderate Buy” from the nine research firms that are currently covering the stock, MarketBeat Ratings reports. One equities research analyst has rated the stock with a hold recommendation and eight have assigned a buy recommendation to the company. The average twelve-month target price among brokers that have issued ratings on the stock in the last year is $17.00.

Several research analysts recently weighed in on the company. Morgan Stanley lowered Alphatec from an “overweight” rating to an “equal weight” rating in a research report on Thursday, August 1st. Wells Fargo & Company dropped their target price on shares of Alphatec from $26.00 to $19.00 and set an “overweight” rating for the company in a research report on Thursday, August 1st. HC Wainwright reiterated a “buy” rating and set a $20.00 price objective on shares of Alphatec in a research note on Thursday, August 1st. Needham & Company LLC decreased their price target on shares of Alphatec from $23.00 to $13.00 and set a “buy” rating for the company in a research report on Thursday, August 22nd. Finally, Piper Sandler reduced their price objective on Alphatec from $17.00 to $12.00 and set an “overweight” rating on the stock in a research note on Thursday, August 1st.

Check Out Our Latest Stock Analysis on Alphatec

Alphatec Stock Performance

Shares of NASDAQ ATEC opened at $5.36 on Tuesday. Alphatec has a 12 month low of $4.88 and a 12 month high of $17.34. The company has a 50-day simple moving average of $5.83 and a 200-day simple moving average of $9.07. The company has a market cap of $749.78 million, a PE ratio of -3.60 and a beta of 1.39. 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 – Get Free Report) 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). The business had revenue of $145.57 million for the quarter, compared to analysts’ expectations of $144.55 million. Alphatec had a negative return on equity of 816.57% and a negative net margin of 33.48%. The business’s quarterly revenue was up 24.5% compared to the same quarter last year. During the same quarter last year, the company posted ($0.43) earnings per share. On average, equities analysts anticipate that Alphatec will post -1.08 earnings per share for the current year.

Insider Buying and Selling at Alphatec

In other news, Director David M. Demski purchased 50,000 shares of the company’s stock in a transaction that occurred on Wednesday, August 21st. The shares were acquired at an average cost of $5.67 per share, with a total value of $283,500.00. Following the transaction, the director now owns 288,441 shares in the company, valued at approximately $1,635,460.47. The trade was a 0.00 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 22.80% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Alphatec

Several hedge funds and other institutional investors have recently modified their holdings of the company. Net Worth Advisory Group acquired a new position in shares of Alphatec during the third quarter worth approximately $76,000. Comerica Bank grew its stake in shares of Alphatec by 64.8% in the first quarter. Comerica Bank now owns 6,443 shares of the medical technology company’s stock worth $89,000 after purchasing an additional 2,534 shares in the last quarter. Van ECK Associates Corp grew its stake in shares of Alphatec by 11.8% in the second quarter. Van ECK Associates Corp now owns 12,275 shares of the medical technology company’s stock worth $128,000 after purchasing an additional 1,300 shares in the last quarter. EntryPoint Capital LLC acquired a new position in shares of Alphatec during the first quarter valued at $141,000. Finally, SG Americas Securities LLC raised its stake in shares of Alphatec by 44.6% during the second quarter. SG Americas Securities LLC now owns 14,495 shares of the medical technology company’s stock valued at $151,000 after purchasing an additional 4,472 shares in the last quarter. Institutional investors and hedge funds own 66.35% of the company’s stock.

About Alphatec

(Get Free Report

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.

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