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

Alphatec Holdings, Inc. (NASDAQ:ATEC) has earned an average recommendation of “Moderate Buy” from the nine analysts that are currently covering the stock, Marketbeat.com reports. One research analyst has rated the stock with a hold recommendation and eight have assigned a buy recommendation to the company. The average twelve-month price target among brokers that have issued a report on the stock in the last year is $18.13.

ATEC has been the topic of several analyst reports. HC Wainwright reissued a “buy” rating and issued a $20.00 target price on shares of Alphatec in a research report on Monday, April 14th. Needham & Company LLC reiterated a “buy” rating and set a $16.00 price objective on shares of Alphatec in a research report on Friday, May 2nd. Piper Sandler reissued an “overweight” rating and set a $15.00 target price (up from $13.00) on shares of Alphatec in a research note on Friday, May 2nd. Finally, Lake Street Capital raised Alphatec to a “buy” rating and set a $18.00 target price for the company in a research report on Monday, June 16th.

Alphatec Stock Down 0.7%

ATEC opened at $10.63 on Thursday. The firm has a market cap of $1.55 billion, a PE ratio of -9.24 and a beta of 1.05. The business has a fifty day simple moving average of $11.78 and a 200-day simple moving average of $11.05. Alphatec has a fifty-two week low of $4.88 and a fifty-two week high of $13.14.

Alphatec (NASDAQ:ATEC) last released its quarterly earnings results on Thursday, May 1st. The medical technology company reported ($0.35) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.12) by ($0.23). The company had revenue of $169.18 million during the quarter, compared to analyst estimates of $167.57 million. Alphatec had a negative net margin of 25.77% and a negative return on equity of 1,657.19%. The company’s revenue for the quarter was up 22.2% compared to the same quarter last year. During the same quarter last year, the business earned ($0.34) EPS. On average, equities research analysts anticipate that Alphatec will post -1.08 EPS for the current fiscal year.

Insider Activity at Alphatec

In related news, Director Karen K. Mcginnis sold 3,963 shares of the business’s stock in a transaction that occurred on Wednesday, June 11th. The stock was sold at an average price of $12.11, for a total value of $47,991.93. Following the completion of the sale, the director owned 68,709 shares of the company’s stock, valued at approximately $832,065.99. The trade was a 5.45% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, COO Scott Lish sold 3,982 shares of the firm’s stock in a transaction that occurred on Thursday, July 10th. The shares were sold at an average price of $12.00, for a total transaction of $47,784.00. Following the transaction, the chief operating officer directly owned 744,936 shares in the company, valued at approximately $8,939,232. The trade was a 0.53% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 299,547 shares of company stock valued at $3,698,956. Insiders own 20.90% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. Wealth Enhancement Advisory Services LLC boosted its holdings in Alphatec by 301.0% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 59,987 shares of the medical technology company’s stock worth $608,000 after purchasing an additional 45,027 shares in the last quarter. GAMMA Investing LLC boosted its stake in shares of Alphatec by 38,433.3% during the 1st quarter. GAMMA Investing LLC now owns 2,312 shares of the medical technology company’s stock worth $228,000 after acquiring an additional 2,306 shares in the last quarter. SG Americas Securities LLC increased its holdings in shares of Alphatec by 28.3% during the 1st quarter. SG Americas Securities LLC now owns 56,927 shares of the medical technology company’s stock valued at $577,000 after acquiring an additional 12,553 shares during the last quarter. Oppenheimer Asset Management Inc. raised its stake in shares of Alphatec by 13.4% in the 1st quarter. Oppenheimer Asset Management Inc. now owns 13,144 shares of the medical technology company’s stock valued at $133,000 after acquiring an additional 1,552 shares in the last quarter. Finally, Rhumbline Advisers lifted its holdings in Alphatec by 6.9% in the 1st quarter. Rhumbline Advisers now owns 148,749 shares of the medical technology company’s stock worth $1,508,000 after purchasing an additional 9,661 shares during the last quarter. Institutional investors and hedge funds 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.