Brokerages Set Alphatec Holdings, Inc. (NASDAQ:ATEC) Price Target at $17.29

Shares of Alphatec Holdings, Inc. (NASDAQ:ATEC) have received a consensus rating of “Moderate Buy” from the fifteen research firms that are presently covering the company, MarketBeat.com reports. One analyst has rated the stock with a sell rating, one has given a hold rating, twelve have issued a buy rating and one has issued a strong buy rating on the company. The average 1 year price objective among brokerages that have issued a report on the stock in the last year is $17.1333.

A number of equities research analysts recently weighed in on the company. Lake Street Capital reaffirmed a “buy” rating and set a $15.00 price target on shares of Alphatec in a report on Wednesday, May 6th. Barclays decreased their target price on Alphatec from $27.00 to $24.00 and set an “overweight” rating on the stock in a report on Thursday, May 7th. Stephens started coverage on Alphatec in a research note on Thursday, July 23rd. They issued an “overweight” rating and a $15.00 target price for the company. Weiss Ratings raised Alphatec from a “sell (e+)” rating to a “sell (d-)” rating in a report on Wednesday, May 6th. Finally, Wells Fargo & Company reduced their price target on shares of Alphatec from $28.00 to $14.00 and set an “overweight” rating on the stock in a research report on Thursday, May 7th.

Insider Activity at Alphatec

In other Alphatec news, Director Karen K. Mcginnis sold 6,050 shares of the stock in a transaction on Thursday, June 11th. The shares were sold at an average price of $8.01, for a total value of $48,460.50. Following the sale, the director directly owned 94,671 shares in the company, valued at approximately $758,314.71. This trade represents a 6.01% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. 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 Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the company. Northwestern Mutual Wealth Management Co. boosted its stake in Alphatec by 157.1% in the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 2,571 shares of the medical technology company’s stock valued at $54,000 after purchasing an additional 1,571 shares during the period. Summit Securities Group LLC bought a new position in Alphatec during the 1st quarter worth $29,000. Osterweis Capital Management Inc. bought a new position in Alphatec during the 2nd quarter worth $37,000. Focus Partners Wealth acquired a new stake in shares of Alphatec during the third quarter worth $138,000. Finally, Merit Financial Group LLC acquired a new stake in shares of Alphatec during the fourth quarter worth $207,000. Institutional investors own 66.35% of the company’s stock.

Alphatec Trading Down 1.4%

Shares of Alphatec stock opened at $9.52 on Monday. The company’s fifty day moving average price is $8.62 and its two-hundred day moving average price is $10.96. The firm has a market capitalization of $1.46 billion, a PE ratio of -11.61 and a beta of 0.85. Alphatec has a 52-week low of $6.82 and a 52-week high of $23.29. The company has a debt-to-equity ratio of 40.35, a current ratio of 1.90 and a quick ratio of 1.12.

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.