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

Shares of Alphatec Holdings, Inc. (NASDAQ:ATEC) have been given a consensus recommendation of “Moderate Buy” by the twelve research firms that are covering the company, Marketbeat reports. One research analyst has rated the stock with a sell rating, one has issued a hold rating and ten have given a buy rating to the company. The average 1 year price objective among brokerages that have issued a report on the stock in the last year is $22.8182.

A number of research firms have recently weighed in on ATEC. Barclays raised their price target on shares of Alphatec from $23.00 to $27.00 and gave the company an “overweight” rating in a research note on Wednesday, January 7th. HC Wainwright restated a “buy” rating and issued a $24.00 target price on shares of Alphatec in a research report on Monday, January 12th. Needham & Company LLC reaffirmed a “buy” rating and set a $22.00 target price on shares of Alphatec in a research note on Monday, January 12th. Lake Street Capital reiterated a “buy” rating on shares of Alphatec in a report on Wednesday, February 25th. Finally, Morgan Stanley set a $23.00 price target on Alphatec in a research note on Tuesday, December 2nd.

Alphatec Trading Down 3.3%

Shares of ATEC opened at $13.02 on Friday. The company has a debt-to-equity ratio of 40.35, a quick ratio of 1.28 and a current ratio of 2.06. Alphatec has a 52-week low of $8.81 and a 52-week high of $23.29. The firm has a market cap of $1.97 billion, a price-to-earnings ratio of -13.71 and a beta of 1.02. The business’s fifty day moving average is $16.43 and its 200-day moving average is $17.08.

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

Insider Transactions at Alphatec

In related news, Director David R. Pelizzon sold 250,000 shares of Alphatec stock in a transaction that occurred on Tuesday, December 16th. The shares were sold at an average price of $19.66, for a total transaction of $4,915,000.00. Following the sale, the director directly owned 10,395,045 shares in the company, valued at $204,366,584.70. This trade represents a 2.35% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, major shareholder Squadron Capital Llc sold 221,166 shares of the business’s stock in a transaction that occurred on Monday, December 8th. The stock was sold at an average price of $21.20, for a total transaction of $4,688,719.20. Following the sale, the insider directly owned 10,673,879 shares in the company, valued at $226,286,234.80. The trade was a 2.03% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders sold 1,336,125 shares of company stock valued at $27,174,878. 22.80% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Alphatec

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