Analysts Set Alphatec Holdings, Inc. (NASDAQ:ATEC) Target Price at $18.58

Shares of Alphatec Holdings, Inc. (NASDAQ:ATEC) have received a consensus rating of “Moderate Buy” from the twelve brokerages that are currently covering the firm, MarketBeat Ratings reports. One research analyst has rated the stock with a sell rating, one has issued a hold rating and ten have issued a buy rating on the company. The average 1-year target price among analysts that have updated their coverage on the stock in the last year is $18.5833.

ATEC has been the topic of a number of recent analyst reports. Piper Sandler reissued an “overweight” rating and issued a $14.00 price target (down from $25.00) on shares of Alphatec in a report on Wednesday, May 6th. Stifel Nicolaus decreased their target price on shares of Alphatec from $24.00 to $20.00 and set a “buy” rating on the stock in a report on Monday, March 9th. JPMorgan Chase & Co. lowered their target price on shares of Alphatec from $24.00 to $16.00 and set an “overweight” rating on the stock in a research note on Wednesday, May 6th. TD Cowen cut their price target on shares of Alphatec from $20.00 to $11.00 and set a “buy” rating for the company in a report on Wednesday, May 6th. Finally, HC Wainwright reissued a “buy” rating and issued a $24.00 price target on shares of Alphatec in a report on Thursday, May 7th.

Insider Activity

In related news, Director Karen K. Mcginnis sold 6,050 shares of the business’s stock in a transaction dated Thursday, June 11th. The stock was sold at an average price of $8.01, for a total transaction of $48,460.50. Following the completion of the transaction, the director directly owned 94,671 shares in the company, valued at $758,314.71. The trade was a 6.01% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Company insiders own 13.48% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of ATEC. Creative Planning increased its position in shares of Alphatec by 0.9% in the third quarter. Creative Planning now owns 58,654 shares of the medical technology company’s stock worth $853,000 after purchasing an additional 534 shares during the last quarter. Great Lakes Advisors LLC lifted its position in Alphatec by 0.4% during the fourth quarter. Great Lakes Advisors LLC now owns 278,717 shares of the medical technology company’s stock valued at $5,864,000 after purchasing an additional 1,226 shares during the last quarter. Franklin Resources Inc. increased its holdings in shares of Alphatec by 2.0% in the 4th quarter. Franklin Resources Inc. now owns 64,774 shares of the medical technology company’s stock worth $1,363,000 after buying an additional 1,299 shares during the last quarter. Oppenheimer Asset Management Inc. increased its holdings in shares of Alphatec by 9.9% in the 4th quarter. Oppenheimer Asset Management Inc. now owns 15,075 shares of the medical technology company’s stock worth $317,000 after buying an additional 1,353 shares during the last quarter. Finally, Northwestern Mutual Wealth Management Co. raised its position in shares of Alphatec by 157.1% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 2,571 shares of the medical technology company’s stock valued at $54,000 after buying an additional 1,571 shares in the last quarter. Hedge funds and other institutional investors own 66.35% of the company’s stock.

Alphatec Price Performance

ATEC traded up $0.18 during trading on Thursday, reaching $9.51. 259,268 shares of the company were exchanged, compared to its average volume of 3,273,184. Alphatec has a 12-month low of $6.82 and a 12-month high of $23.29. The company’s 50-day moving average is $8.41 and its two-hundred day moving average is $12.50. The company has a quick ratio of 1.12, a current ratio of 1.90 and a debt-to-equity ratio of 40.35. The company has a market cap of $1.46 billion, a price-to-earnings ratio of -11.58 and a beta of 0.85.

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.