Alphatec Holdings, Inc. (NASDAQ:ATEC) Stock Has Average Target Price of $17.40

Alphatec Holdings, Inc. (NASDAQ:ATEC) has earned a consensus rating of “Moderate Buy” from the fifteen research firms 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 thirteen have assigned a buy rating to the company. The average 1-year target price among brokerages that have covered the stock in the last year is $17.40.

A number of equities analysts have recently commented on ATEC shares. TD Cowen lifted their target price on shares of Alphatec from $11.00 to $13.00 and gave the company a “buy” rating in a report on Wednesday, August 5th. Wall Street Zen downgraded shares of Alphatec from a “buy” rating to a “hold” rating in a research report on Sunday. Weiss Ratings reiterated a “sell (d-)” rating on shares of Alphatec in a research note on Monday, August 3rd. Stifel Nicolaus decreased their price target on shares of Alphatec from $16.00 to $13.00 and set a “buy” rating for the company in a research note on Wednesday, July 8th. Finally, UBS Group raised their price objective on shares of Alphatec from $15.00 to $16.00 and gave the stock a “buy” rating in a research report on Wednesday, August 5th.

Alphatec Price Performance

Alphatec stock opened at $10.44 on Friday. Alphatec has a fifty-two week low of $6.82 and a fifty-two week high of $23.29. The stock has a 50-day simple moving average of $9.87 and a 200-day simple moving average of $9.40.

Alphatec (NASDAQ:ATEC) last released its quarterly earnings results on Tuesday, August 4th. The medical technology company reported $0.07 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.07. The firm had revenue of $213.51 million for the quarter, compared to the consensus estimate of $211.26 million. Alphatec had a negative return on equity of 6,752.24% and a negative net margin of 13.49%. The firm’s quarterly revenue was up 15.1% compared to the same quarter last year. During the same quarter last year, the business posted $0.02 EPS. On average, research analysts anticipate that Alphatec will post -0.45 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, CEO Patrick Miles acquired 115,000 shares of the company’s stock in a transaction on Thursday, September 10th. The shares were bought at an average cost of $8.81 per share, with a total value of $1,013,150.00. Following the purchase, the chief executive officer owned 5,893,551 shares of the company’s stock, valued at $51,922,184.31. This represents a 1.99% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, General Counsel Tyson Marshall sold 8,168 shares of the company’s stock in a transaction on Wednesday, August 5th. The stock was sold at an average price of $9.65, for a total transaction of $78,821.20. Following the transaction, the general counsel owned 630,398 shares of the company’s stock, valued at approximately $6,083,340.70. The trade was a 1.28% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 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. Insiders own 13.48% of the company’s stock.

Institutional Trading of Alphatec

Several hedge funds and other institutional investors have recently made changes to their positions in ATEC. Congress Asset Management Co. boosted its position in shares of Alphatec by 20.7% in the third quarter. Congress Asset Management Co. now owns 532,069 shares of the medical technology company’s stock worth $5,491,000 after acquiring an additional 91,431 shares during the last quarter. Park National Corp OH acquired a new stake in Alphatec during the third quarter worth about $127,000. Integrated Wealth Concepts LLC acquired a new position in shares of Alphatec in the 2nd quarter valued at about $52,000. Allworth Financial LP increased its position in Alphatec by 82.6% during the 2nd quarter. Allworth Financial LP now owns 6,666 shares of the medical technology company’s stock worth $58,000 after purchasing an additional 3,015 shares in the last quarter. Finally, VIRGINIA RETIREMENT SYSTEMS ET Al acquired a new position in Alphatec during the second quarter valued at approximately $218,000. Hedge funds and other institutional investors own 66.35% of the company’s stock.

About Alphatec

Alphatec Holdings, Inc (NASDAQ: ATEC) is a medical technology company focused on the surgical treatment of spinal disorders. Through its Alphatec Spine business, the company develops and markets implants, biologics, instruments and procedural technologies designed to support spine surgery and improve patient outcomes.

Its product portfolio includes systems for spinal fusion and reconstruction, including interbody implants, fixation devices and navigation or imaging-enabled surgical solutions.