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

Alphatec Holdings, Inc. (NASDAQ:ATEC) has received a consensus rating of “Moderate Buy” from the twelve analysts that are covering the stock, MarketBeat reports. One analyst has rated the stock with a sell recommendation, one has assigned a hold recommendation and ten have issued a buy recommendation on the company. The average 12-month target price among brokers that have issued ratings on the stock in the last year is $18.5833.

Several research firms have issued reports on ATEC. TD Cowen dropped their price objective on Alphatec from $20.00 to $11.00 and set a “buy” rating on the stock in a research note on Wednesday, May 6th. Wells Fargo & Company decreased their target price on Alphatec from $28.00 to $14.00 and set an “overweight” rating on the stock in a report on Thursday, May 7th. Piper Sandler restated an “overweight” rating and issued a $14.00 price target (down from $25.00) on shares of Alphatec in a research note on Wednesday, May 6th. JPMorgan Chase & Co. dropped their price target on Alphatec from $24.00 to $16.00 and set an “overweight” rating on the stock in a research note on Wednesday, May 6th. Finally, HC Wainwright reaffirmed a “buy” rating and set a $24.00 price objective on shares of Alphatec in a research report on Thursday, May 7th.

Alphatec Price Performance

Shares of ATEC stock opened at $8.13 on Friday. Alphatec has a 52-week low of $6.82 and a 52-week high of $23.29. The stock has a market cap of $1.25 billion, a price-to-earnings ratio of -9.91 and a beta of 0.88. The firm’s 50-day moving average is $9.18 and its 200-day moving average is $13.98. The company has a debt-to-equity ratio of 40.35, a quick ratio of 1.12 and a current ratio of 1.90.

Institutional Trading of Alphatec

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Western Wealth Management LLC grew its stake in Alphatec by 20.9% in the 1st quarter. Western Wealth Management LLC now owns 103,909 shares of the medical technology company’s stock valued at $1,131,000 after buying an additional 17,928 shares during the last quarter. Bank of America Corp DE lifted its position in Alphatec by 26.9% during the first quarter. Bank of America Corp DE now owns 2,560,971 shares of the medical technology company’s stock worth $27,863,000 after acquiring an additional 543,059 shares during the last quarter. California State Teachers Retirement System boosted its holdings in shares of Alphatec by 34.1% during the first quarter. California State Teachers Retirement System now owns 147,650 shares of the medical technology company’s stock worth $1,606,000 after acquiring an additional 37,557 shares during the period. Rock Springs Capital Management LP grew its position in shares of Alphatec by 15.7% in the first quarter. Rock Springs Capital Management LP now owns 350,000 shares of the medical technology company’s stock valued at $3,808,000 after purchasing an additional 47,500 shares during the last quarter. Finally, Quantinno Capital Management LP increased its stake in shares of Alphatec by 34.4% during the first quarter. Quantinno Capital Management LP now owns 21,452 shares of the medical technology company’s stock worth $233,000 after purchasing an additional 5,487 shares during the period. Institutional investors own 66.35% of the company’s stock.

Alphatec Company Profile

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.