Brokerages Set Alphatec Holdings, Inc. (NASDAQ:ATEC) PT at $22.82

Shares of Alphatec Holdings, Inc. (NASDAQ:ATEC) have received an average rating of “Moderate Buy” from the twelve brokerages that are presently covering the stock, Marketbeat.com reports. One research analyst has rated the stock with a sell recommendation, one has issued a hold recommendation and ten have assigned a buy recommendation to the company. The average 12 month target price among brokers that have issued a report on the stock in the last year is $22.8182.

A number of research firms have issued reports on ATEC. Lake Street Capital set a $25.00 target price on shares of Alphatec and gave the company a “buy” rating in a research report on Friday, October 31st. Morgan Stanley set a $23.00 price objective on shares of Alphatec in a report on Tuesday, December 2nd. Loop Capital set a $25.00 price objective on shares of Alphatec in a research note on Wednesday, December 10th. Canaccord Genuity Group upped their target price on shares of Alphatec from $20.00 to $25.00 and gave the company a “buy” rating in a research report on Friday, October 31st. Finally, Stifel Nicolaus started coverage on Alphatec in a research report on Tuesday, October 28th. They issued a “buy” rating and a $20.00 price target on the stock.

Insiders Place Their Bets

In other news, major shareholder Squadron Capital Llc sold 250,000 shares of the business’s stock in a transaction dated Monday, November 24th. The stock was sold at an average price of $20.62, for a total transaction of $5,155,000.00. Following the completion of the transaction, the insider directly owned 10,895,045 shares in the company, valued at approximately $224,655,827.90. The trade was a 2.24% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, major shareholder Jennifer N. Pritzker sold 250,000 shares of the company’s stock in a transaction dated Monday, November 24th. The shares were sold at an average price of $20.62, for a total value of $5,155,000.00. Following the completion of the sale, the insider directly owned 10,895,045 shares of the company’s stock, valued at approximately $224,655,827.90. This trade represents a 2.24% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last quarter, insiders have sold 3,031,125 shares of company stock worth $62,311,578. Insiders own 22.80% of the company’s stock.

Institutional Investors Weigh In On Alphatec

Several hedge funds have recently bought and sold shares of ATEC. Aster Capital Management DIFC Ltd acquired a new position in shares of Alphatec in the 3rd quarter valued at $34,000. Osterweis Capital Management Inc. bought a new position in Alphatec during the second quarter worth about $37,000. China Universal Asset Management Co. Ltd. acquired a new position in Alphatec in the third quarter valued at about $73,000. FNY Investment Advisers LLC bought a new stake in shares of Alphatec in the third quarter worth about $74,000. Finally, Nisa Investment Advisors LLC raised its position in shares of Alphatec by 22.4% during the second quarter. Nisa Investment Advisors LLC now owns 5,714 shares of the medical technology company’s stock worth $63,000 after purchasing an additional 1,045 shares during the period. 66.35% of the stock is currently owned by institutional investors and hedge funds.

Alphatec Trading Up 2.4%

ATEC stock opened at $13.82 on Monday. The company has a market cap of $2.05 billion, a P/E ratio of -13.29 and a beta of 1.01. Alphatec has a twelve month low of $8.81 and a twelve month high of $23.29. The company has a quick ratio of 1.24, a current ratio of 1.99 and a debt-to-equity ratio of 43.02. The business has a fifty day moving average of $18.85 and a 200-day moving average of $17.09.

About Alphatec

Alphatec Holdings, Inc (NASDAQ: ATEC) is a medical technology company focused on the design, development and commercialization of products for the surgical correction of degenerative spinal conditions. The company’s portfolio centers on interbody implants, biologics, fixation devices and surgical planning tools intended to improve patient outcomes in spinal fusion procedures. Alphatec’s flagship offerings include customizable interbody cages, bone graft materials and specialized instrumentation designed for minimally invasive and open spinal surgeries.

Founded as Alphatec Spine in 1985 and rebranded as Alphatec Holdings in 2018, the company has grown from a single-product organization into a multi-platform innovator in the spine market.