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

Shares of Alphatec Holdings, Inc. (NASDAQ:ATEC) have been given an average rating of “Moderate Buy” by the twelve brokerages that are currently covering the company, Marketbeat reports. One investment analyst has rated the stock with a sell recommendation, one has issued a hold recommendation, nine have issued a buy recommendation and one has given a strong buy recommendation to the company. The average twelve-month price target among brokers that have updated their coverage on the stock in the last year is $22.8182.

ATEC has been the topic of several analyst reports. Wells Fargo & Company raised Alphatec to a “strong-buy” rating in a report on Wednesday, March 18th. Loop Capital set a $25.00 price target on Alphatec in a research note on Wednesday, December 10th. Wall Street Zen raised shares of Alphatec from a “hold” rating to a “buy” rating in a research report on Saturday, January 31st. HC Wainwright reiterated a “buy” rating and set a $24.00 price objective on shares of Alphatec in a research note on Monday, January 12th. Finally, Weiss Ratings reissued a “sell (e+)” rating on shares of Alphatec in a report on Monday, December 29th.

Alphatec Stock Down 5.1%

NASDAQ ATEC opened at $10.93 on Tuesday. The company has a current ratio of 2.06, a quick ratio of 1.28 and a debt-to-equity ratio of 40.35. The company has a market cap of $1.65 billion, a price-to-earnings ratio of -11.51 and a beta of 1.02. The company has a 50 day moving average of $13.62 and a 200-day moving average of $16.60. Alphatec has a 1-year low of $8.81 and a 1-year high of $23.29.

Alphatec (NASDAQ:ATEC) last issued its quarterly earnings results on Tuesday, February 24th. The medical technology company reported $0.06 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.04 by $0.02. The company had revenue of $212.93 million for the quarter, compared to analyst estimates of $212.67 million. The company’s quarterly revenue was up 20.4% compared to the same quarter last year. During the same period in the prior year, the company earned ($0.23) EPS. On average, equities research analysts expect that Alphatec will post -1.08 earnings per share for the current fiscal year.

Insider Buying and Selling at Alphatec

In other Alphatec news, General Counsel Tyson Eliot Marshall sold 88,835 shares of the company’s stock in a transaction on Thursday, March 5th. The stock was sold at an average price of $12.49, for a total transaction of $1,109,549.15. Following the completion of the sale, the general counsel directly owned 559,459 shares in the company, valued at $6,987,642.91. This represents a 13.70% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP David Sponsel sold 163,452 shares of the firm’s stock in a transaction on Wednesday, March 11th. The shares were sold at an average price of $12.52, for a total value of $2,046,419.04. Following the completion of the sale, the executive vice president directly owned 504,932 shares in the company, valued at approximately $6,321,748.64. This represents a 24.45% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 826,972 shares of company stock worth $11,285,386 in the last three months. Company insiders own 20.90% of the company’s stock.

Hedge Funds Weigh In On Alphatec

A number of institutional investors have recently modified their holdings of ATEC. Voloridge Investment Management LLC acquired a new stake in Alphatec in the fourth quarter valued at about $321,000. Susquehanna Portfolio Strategies LLC acquired a new position in Alphatec during the fourth quarter worth about $681,000. Numerai GP LLC bought a new position in shares of Alphatec in the fourth quarter worth about $757,000. Occudo Quantitative Strategies LP lifted its holdings in shares of Alphatec by 235.4% in the fourth quarter. Occudo Quantitative Strategies LP now owns 269,798 shares of the medical technology company’s stock worth $5,677,000 after acquiring an additional 189,348 shares during the last quarter. Finally, Millennium Management LLC boosted its stake in shares of Alphatec by 292.2% in the 4th quarter. Millennium Management LLC now owns 2,225,927 shares of the medical technology company’s stock valued at $46,834,000 after purchasing an additional 1,658,349 shares in the last quarter. Institutional investors and hedge funds own 66.35% of the company’s stock.

About Alphatec

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.