Analysts Set Alphatec Holdings, Inc. (NASDAQ:ATEC) Price Target at $22.89

Shares of Alphatec Holdings, Inc. (NASDAQ:ATEC) have been assigned a consensus rating of “Buy” from the eight ratings firms that are covering the company, Marketbeat Ratings reports. Eight research analysts have rated the stock with a buy recommendation. The average 12-month price target among brokers that have updated their coverage on the stock in the last year is $22.89.

Several equities analysts have issued reports on ATEC shares. HC Wainwright reaffirmed a “buy” rating and issued a $20.00 price target on shares of Alphatec in a report on Monday, March 4th. Wells Fargo & Company started coverage on Alphatec in a research note on Friday, February 9th. They set an “overweight” rating and a $26.00 target price on the stock. Piper Sandler decreased their price target on Alphatec from $19.00 to $17.00 and set an “overweight” rating for the company in a research note on Wednesday, May 8th. Canaccord Genuity Group restated a “buy” rating and set a $25.00 price target on shares of Alphatec in a research note on Wednesday, March 20th. Finally, Needham & Company LLC reaffirmed a “buy” rating and issued a $23.00 price objective on shares of Alphatec in a research report on Wednesday, May 8th.

Alphatec Trading Up 0.7 %

Shares of NASDAQ:ATEC opened at $10.76 on Friday. The company has a market capitalization of $1.51 billion, a PE ratio of -7.22 and a beta of 1.48. The company has a current ratio of 2.39, a quick ratio of 1.49 and a debt-to-equity ratio of 13.63. Alphatec has a 12-month low of $8.66 and a 12-month high of $19.14. The business’s fifty day simple moving average is $12.83 and its 200-day simple moving average is $13.60.

Alphatec (NASDAQ:ATEC) last posted its earnings results on Tuesday, May 7th. The medical technology company reported ($0.34) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.33) by ($0.01). Alphatec had a negative net margin of 37.45% and a negative return on equity of 1,767.81%. The company had revenue of $138.48 million during the quarter, compared to analysts’ expectations of $134.07 million. During the same quarter last year, the firm earned ($0.40) EPS. Alphatec’s revenue for the quarter was up 26.9% on a year-over-year basis. As a group, equities research analysts predict that Alphatec will post -1.05 earnings per share for the current fiscal year.

Insider Buying and Selling at Alphatec

In other news, General Counsel Tyson Eliot Marshall sold 11,825 shares of the business’s stock in a transaction dated Friday, March 1st. The stock was sold at an average price of $13.30, for a total value of $157,272.50. Following the completion of the transaction, the general counsel now owns 305,095 shares of the company’s stock, valued at approximately $4,057,763.50. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In other news, General Counsel Tyson Eliot Marshall sold 11,825 shares of the firm’s stock in a transaction that occurred on Friday, March 1st. The shares were sold at an average price of $13.30, for a total transaction of $157,272.50. Following the sale, the general counsel now owns 305,095 shares of the company’s stock, valued at approximately $4,057,763.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO John Todd Koning sold 37,500 shares of the stock in a transaction on Wednesday, April 24th. The stock was sold at an average price of $12.82, for a total transaction of $480,750.00. Following the sale, the chief financial officer now directly owns 393,356 shares in the company, valued at $5,042,823.92. The disclosure for this sale can be found here. Over the last three months, insiders have sold 252,786 shares of company stock valued at $3,474,224. 22.80% of the stock is owned by insiders.

Hedge Funds Weigh In On Alphatec

A number of large investors have recently bought and sold shares of ATEC. RiverPark Advisors LLC acquired a new position in shares of Alphatec during the third quarter valued at approximately $53,000. Provence Wealth Management Group purchased a new position in Alphatec in the 3rd quarter valued at $56,000. Comerica Bank boosted its stake in Alphatec by 64.8% during the 1st 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 during the last quarter. Van ECK Associates Corp purchased a new stake in shares of Alphatec during the third quarter worth $113,000. Finally, Tidemark LLC acquired a new stake in shares of Alphatec in the fourth quarter valued at about $137,000. 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.