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

Alphatec Holdings, Inc. (NASDAQ:ATEC) has been assigned a consensus recommendation of “Moderate Buy” from the ten brokerages that are presently covering the firm, MarketBeat Ratings reports. One research analyst has rated the stock with a hold rating and nine have given a buy rating to the company. The average 1 year target price among brokers that have issued ratings on the stock in the last year is $17.50.

Several equities research analysts have weighed in on ATEC shares. Needham & Company LLC cut their target price on Alphatec from $23.00 to $13.00 and set a “buy” rating for the company in a research note on Thursday, August 22nd. Morgan Stanley downgraded Alphatec from an “overweight” rating to an “equal weight” rating in a research report on Thursday, August 1st. Piper Sandler lowered their target price on Alphatec from $17.00 to $12.00 and set an “overweight” rating for the company in a research note on Thursday, August 1st. Barclays initiated coverage on shares of Alphatec in a report on Monday, July 8th. They issued an “overweight” rating and a $19.00 target price for the company. Finally, Stifel Nicolaus decreased their price target on shares of Alphatec from $19.00 to $16.00 and set a “buy” rating on the stock in a report on Thursday, August 1st.

Alphatec Stock Down 1.1 %

ATEC stock opened at $5.49 on Friday. Alphatec has a 52 week low of $5.28 and a 52 week high of $17.34. The business has a 50-day simple moving average of $6.93 and a 200 day simple moving average of $10.10. The company has a quick ratio of 1.21, a current ratio of 2.22 and a debt-to-equity ratio of 30.21. The company has a market cap of $767.96 million, a PE ratio of -3.68 and a beta of 1.40.

Alphatec (NASDAQ:ATEC) last issued its earnings results on Wednesday, July 31st. The medical technology company reported ($0.29) EPS for the quarter, missing the consensus estimate of ($0.26) by ($0.03). The firm had revenue of $145.57 million during the quarter, compared to analyst estimates of $144.55 million. Alphatec had a negative net margin of 33.48% and a negative return on equity of 816.57%. Alphatec’s quarterly revenue was up 24.5% compared to the same quarter last year. During the same quarter in the previous year, the firm posted ($0.43) earnings per share. Sell-side analysts anticipate that Alphatec will post -1.08 EPS for the current fiscal year.

Insider Buying and Selling at Alphatec

In other Alphatec news, Director David M. Demski purchased 50,000 shares of the business’s stock in a transaction dated Wednesday, August 21st. The shares were bought at an average price of $5.67 per share, for a total transaction of $283,500.00. Following the completion of the acquisition, the director now owns 288,441 shares in the company, valued at $1,635,460.47. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 22.80% of the company’s stock.

Hedge Funds Weigh In On Alphatec

A number of hedge funds and other institutional investors have recently made changes to their positions in ATEC. Amalgamated Bank raised its holdings in Alphatec by 7.3% during the 4th quarter. Amalgamated Bank now owns 9,720 shares of the medical technology company’s stock worth $147,000 after purchasing an additional 660 shares during the last quarter. Van ECK Associates Corp lifted its holdings in Alphatec by 11.8% in the second quarter. Van ECK Associates Corp now owns 12,275 shares of the medical technology company’s stock valued at $128,000 after buying an additional 1,300 shares during the period. ProShare Advisors LLC boosted its position in Alphatec by 8.5% during the first quarter. ProShare Advisors LLC now owns 16,572 shares of the medical technology company’s stock valued at $229,000 after acquiring an additional 1,304 shares during the last quarter. Bayesian Capital Management LP grew its holdings in Alphatec by 5.6% during the 1st quarter. Bayesian Capital Management LP now owns 27,000 shares of the medical technology company’s stock worth $372,000 after acquiring an additional 1,442 shares during the period. Finally, Cetera Advisors LLC raised its position in shares of Alphatec by 15.6% in the 1st quarter. Cetera Advisors LLC now owns 12,720 shares of the medical technology company’s stock worth $175,000 after acquiring an additional 1,720 shares in the last quarter. 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.