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

Alphatec Holdings, Inc. (NASDAQ:ATEC) has been given a consensus rating of “Moderate Buy” by the ten analysts that are currently covering the firm, MarketBeat.com reports. One investment analyst has rated the stock with a hold recommendation and nine have given a buy recommendation to the company. The average 1-year price objective among brokers that have covered the stock in the last year is $17.50.

ATEC has been the subject of a number of analyst reports. Morgan Stanley lowered Alphatec from an “overweight” rating to an “equal weight” rating in a report on Thursday, August 1st. Wells Fargo & Company cut their target price on Alphatec from $26.00 to $19.00 and set an “overweight” rating for the company in a research note on Thursday, August 1st. Lake Street Capital reduced their target price on Alphatec from $32.00 to $18.00 and set a “buy” rating for the company in a report on Tuesday, September 3rd. Piper Sandler lowered their price target on shares of Alphatec from $17.00 to $12.00 and set an “overweight” rating on the stock in a report on Thursday, August 1st. Finally, HC Wainwright reaffirmed a “buy” rating and set a $20.00 price objective on shares of Alphatec in a research note on Thursday, August 1st.

Alphatec Price Performance

Shares of NASDAQ ATEC opened at $6.21 on Friday. The company has a current ratio of 2.22, a quick ratio of 1.21 and a debt-to-equity ratio of 30.21. The stock has a fifty day simple moving average of $7.51 and a two-hundred day simple moving average of $10.36. Alphatec has a 1-year low of $5.28 and a 1-year high of $17.34. The firm has a market cap of $868.68 million, a price-to-earnings ratio of -4.17 and a beta of 1.40.

Alphatec (NASDAQ:ATEC) last posted its quarterly earnings results on Wednesday, July 31st. The medical technology company reported ($0.29) earnings per share for the quarter, missing the consensus estimate of ($0.26) by ($0.03). The firm had revenue of $145.57 million for the quarter, compared to the consensus estimate of $144.55 million. Alphatec had a negative return on equity of 816.57% and a negative net margin of 33.48%. The firm’s revenue was up 24.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted ($0.43) EPS. Analysts anticipate that Alphatec will post -1.08 earnings per share for the current year.

Insider Transactions at Alphatec

In other news, Director David M. Demski purchased 50,000 shares of the company’s stock in a transaction on Wednesday, August 21st. The stock was purchased at an average price of $5.67 per share, with a total value of $283,500.00. Following the completion of the purchase, the director now directly owns 288,441 shares in the company, valued at approximately $1,635,460.47. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Insiders own 22.80% of the company’s stock.

Institutional Investors Weigh In On Alphatec

Institutional investors have recently made changes to their positions in the business. Swiss National Bank boosted its holdings in Alphatec by 9.7% during the 4th quarter. Swiss National Bank now owns 185,700 shares of the medical technology company’s stock valued at $2,806,000 after acquiring an additional 16,400 shares during the period. Amalgamated Bank grew its holdings in shares of Alphatec by 7.3% in the fourth quarter. Amalgamated Bank now owns 9,720 shares of the medical technology company’s stock worth $147,000 after purchasing an additional 660 shares during the last quarter. Charles Schwab Investment Management Inc. increased its stake in shares of Alphatec by 20.2% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 746,781 shares of the medical technology company’s stock worth $11,284,000 after buying an additional 125,488 shares during the period. Principal Financial Group Inc. increased its stake in shares of Alphatec by 87.1% in the fourth quarter. Principal Financial Group Inc. now owns 277,000 shares of the medical technology company’s stock worth $4,185,000 after buying an additional 128,938 shares during the period. Finally, Trexquant Investment LP bought a new stake in Alphatec during the 4th quarter valued at $1,142,000. Hedge funds and other institutional investors own 66.35% of the company’s stock.

About Alphatec

Alphatec Holdings, Inc, a medical technology company, designs, develops, and advances technologies for the surgical treatment of spinal disorders in the United States and internationally. It manufactures and sells implants and instruments through third-party suppliers. The company offers Alpha InformatiX product platform, including EOS imaging system that provides full-body imaging; VEA alignment mobile application, which leverages EOS technology to more quickly quantify alignment parameters on a mobile device; SafeOp Neural InformatiX System that automates electromyographic and somatosensory evoked potential monitoring; and Valence, an intra-operative system that integrates navigation and robotics into spine procedures, as well as Sigma Prone TransPsoas (PTP) Access and PTP Patient Positioning Systems.