Brokerages Set Alphatec Holdings, Inc. (NASDAQ:ATEC) Price Target at $20.78

Shares of Alphatec Holdings, Inc. (NASDAQ:ATEC) have earned an average recommendation of “Moderate Buy” from the nine analysts that are covering the company, Marketbeat.com reports. One research analyst has rated the stock with a hold rating and eight have issued a buy rating on the company. The average 12 month target price among brokerages that have covered the stock in the last year is $19.11.

Several research analysts have weighed in on ATEC shares. Piper Sandler lowered their target price 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. Morgan Stanley lowered shares of Alphatec from an “overweight” rating to an “equal weight” rating in a research report on Thursday, August 1st. Needham & Company LLC reiterated a “buy” rating and issued a $23.00 price target on shares of Alphatec in a research report on Thursday, August 1st. HC Wainwright reiterated a “buy” rating and issued a $20.00 price target on shares of Alphatec in a research report on Thursday, August 1st. Finally, Stifel Nicolaus lowered their price target on shares of Alphatec from $19.00 to $16.00 and set a “buy” rating on the stock in a research report on Thursday, August 1st.

Alphatec Price Performance

Shares of NASDAQ:ATEC opened at $6.10 on Thursday. The stock has a market capitalization of $853.29 million, a price-to-earnings ratio of -4.09 and a beta of 1.40. Alphatec has a one year low of $5.74 and a one year high of $17.34. The company has a 50-day simple moving average of $10.07 and a 200-day simple moving average of $12.41. The company has a debt-to-equity ratio of 30.21, a quick ratio of 1.49 and a current ratio of 2.22.

Alphatec (NASDAQ:ATEC) last posted its quarterly earnings results on Wednesday, July 31st. The medical technology company reported ($0.29) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.26) by ($0.03). Alphatec had a negative return on equity of 816.57% and a negative net margin of 33.48%. The firm had revenue of $145.57 million for the quarter, compared to analysts’ expectations of $144.55 million. During the same period in the prior year, the company earned ($0.43) earnings per share. The company’s revenue for the quarter was up 24.5% on a year-over-year basis. On average, analysts predict that Alphatec will post -1.04 EPS for the current year.

Insider Buying and Selling

In other Alphatec news, General Counsel Tyson Eliot Marshall sold 50,232 shares of the firm’s stock in a transaction on Wednesday, June 12th. The shares were sold at an average price of $10.88, for a total transaction of $546,524.16. Following the completion of the transaction, the general counsel now directly owns 245,638 shares of the company’s stock, valued at approximately $2,672,541.44. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 22.80% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the business. Cerity Partners LLC bought a new stake in Alphatec in the 4th quarter valued at about $28,451,000. Charles Schwab Investment Management Inc. lifted its position in Alphatec by 20.2% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 746,781 shares of the medical technology company’s stock valued at $11,284,000 after purchasing an additional 125,488 shares during the last quarter. Pura Vida Investments LLC bought a new stake in Alphatec in the 4th quarter valued at about $4,609,000. First Light Asset Management LLC lifted its position in Alphatec by 97.0% in the 4th 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 last quarter. Finally, Congress Asset Management Co. MA bought a new stake in Alphatec in the 1st quarter valued at about $1,829,000. 66.35% of the stock is owned by institutional investors and hedge funds.

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.