Alphatec Holdings, Inc. (NASDAQ:ATEC) Receives Consensus Recommendation of “Buy” from Brokerages

Alphatec Holdings, Inc. (NASDAQ:ATEC) has been given an average rating of “Buy” by the seven analysts that are presently covering the company, MarketBeat reports. Seven equities research analysts have rated the stock with a buy rating. The average 1 year target price among brokerages that have updated their coverage on the stock in the last year is $23.63.

Several research firms have issued reports on ATEC. HC Wainwright restated a “buy” rating and issued a $20.00 price objective on shares of Alphatec in a research note on Monday, March 4th. 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. Needham & Company LLC increased their price objective on Alphatec from $22.00 to $23.00 and gave the company a “buy” rating in a report on Thursday, March 28th. Finally, Wells Fargo & Company started coverage on shares of Alphatec in a report on Friday, February 9th. They issued an “overweight” rating and a $26.00 target price on the stock.

Alphatec Trading Up 1.2 %

ATEC opened at $12.59 on Tuesday. The business’s 50-day simple moving average is $13.57 and its 200-day simple moving average is $13.50. The company has a market cap of $1.74 billion, a P/E ratio of -8.12 and a beta of 1.55. Alphatec has a one year low of $8.66 and a one year high of $19.14. The company has a debt-to-equity ratio of 6.54, a quick ratio of 1.99 and a current ratio of 2.86.

Alphatec (NASDAQ:ATEC) last released its quarterly earnings data on Tuesday, February 27th. The medical technology company reported ($0.37) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.28) by ($0.09). The business had revenue of $138.00 million for the quarter, compared to the consensus estimate of $131.90 million. The company’s quarterly revenue was up 30.3% compared to the same quarter last year. During the same quarter in the prior year, the firm posted ($0.33) earnings per share. As a group, equities research analysts expect that Alphatec will post -1.1 EPS for the current fiscal year.

Insider Activity at Alphatec

In other news, EVP David Sponsel sold 2,500 shares of the firm’s stock in a transaction that occurred on Wednesday, February 14th. The stock was sold at an average price of $16.16, for a total value of $40,400.00. Following the completion of the sale, the executive vice president now directly owns 637,418 shares of the company’s stock, valued at approximately $10,300,674.88. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, COO Scott Lish sold 11,963 shares of the firm’s stock in a transaction dated Wednesday, February 21st. The shares were sold at an average price of $15.34, for a total value of $183,512.42. Following the completion of the sale, the chief operating officer now owns 538,240 shares in the company, valued at $8,256,601.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP David Sponsel sold 2,500 shares of the company’s stock in a transaction dated Wednesday, February 14th. The stock was sold at an average price of $16.16, for a total transaction of $40,400.00. Following the transaction, the executive vice president now owns 637,418 shares in the company, valued at $10,300,674.88. The disclosure for this sale can be found here. Insiders sold a total of 285,069 shares of company stock worth $3,971,495 over the last 90 days. Company insiders own 29.12% of the company’s stock.

Institutional Investors Weigh In On Alphatec

Several institutional investors have recently modified their holdings of the company. Cerity Partners LLC acquired a new stake in Alphatec in the fourth quarter valued at $28,451,000. Vanguard Group Inc. grew its stake in Alphatec by 1.8% in the 3rd quarter. Vanguard Group Inc. now owns 4,615,223 shares of the medical technology company’s stock valued at $59,859,000 after acquiring an additional 80,101 shares during the last quarter. American Century Companies Inc. increased its holdings in Alphatec by 24.5% during the 3rd quarter. American Century Companies Inc. now owns 2,655,328 shares of the medical technology company’s stock valued at $34,440,000 after acquiring an additional 523,323 shares in the last quarter. Assenagon Asset Management S.A. raised its position in Alphatec by 10.5% during the third quarter. Assenagon Asset Management S.A. now owns 1,587,516 shares of the medical technology company’s stock worth $20,590,000 after acquiring an additional 151,249 shares during the last quarter. Finally, abrdn plc lifted its holdings in shares of Alphatec by 276.7% in the third quarter. abrdn plc now owns 1,382,770 shares of the medical technology company’s stock valued at $17,935,000 after purchasing an additional 1,015,668 shares in the last quarter. Hedge funds and other institutional investors 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.