Analysts Set Alphatec Holdings, Inc. (NASDAQ:ATEC) PT at $22.89

Shares of Alphatec Holdings, Inc. (NASDAQ:ATEC) have earned a consensus recommendation of “Buy” from the eight analysts that are currently covering the stock, Marketbeat.com reports. Eight investment analysts have rated the stock with a buy rating. The average 1-year price target among analysts that have issued a report on the stock in the last year is $22.89.

A number of equities research analysts have recently issued reports on ATEC shares. HC Wainwright restated a “buy” rating and set a $20.00 price target on shares of Alphatec in a report on Monday, March 4th. Piper Sandler decreased their target price on Alphatec from $19.00 to $17.00 and set an “overweight” rating for the company in a research report on Wednesday, May 8th. Canaccord Genuity Group reissued a “buy” rating and issued a $25.00 price objective on shares of Alphatec in a research note on Wednesday, March 20th. Needham & Company LLC reiterated a “buy” rating and issued a $23.00 target price on shares of Alphatec in a report on Wednesday, May 8th. Finally, Wells Fargo & Company assumed coverage on shares of Alphatec in a report on Friday, February 9th. They set an “overweight” rating and a $26.00 price target for the company.

Insider Activity

In other Alphatec news, CFO John Todd Koning sold 37,500 shares of the stock in a transaction on Wednesday, April 24th. The shares were sold at an average price of $12.82, for a total transaction of $480,750.00. Following the transaction, the chief financial officer now directly owns 393,356 shares of the company’s stock, valued at $5,042,823.92. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In related news, EVP Craig E. Hunsaker sold 41,560 shares of Alphatec stock in a transaction on Monday, February 26th. The shares were sold at an average price of $15.05, for a total value of $625,478.00. Following the transaction, the executive vice president now owns 1,188,444 shares in the company, valued at approximately $17,886,082.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO John Todd Koning sold 37,500 shares of the company’s stock in a transaction dated Wednesday, April 24th. The shares were sold at an average price of $12.82, for a total transaction of $480,750.00. Following the sale, the chief financial officer now owns 393,356 shares of the company’s stock, valued at $5,042,823.92. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 252,786 shares of company stock worth $3,474,224. 22.80% of the stock is owned by corporate insiders.

Institutional Trading of Alphatec

Several hedge funds have recently added to or reduced their stakes in the business. Amalgamated Bank lifted its holdings in shares of Alphatec by 7.3% during the fourth quarter. Amalgamated Bank now owns 9,720 shares of the medical technology company’s stock worth $147,000 after buying an additional 660 shares during the last quarter. Valeo Financial Advisors LLC boosted its holdings in Alphatec by 5.0% in the 4th quarter. Valeo Financial Advisors LLC now owns 19,025 shares of the medical technology company’s stock valued at $287,000 after purchasing an additional 900 shares during the period. RiverPark Advisors LLC grew its position in Alphatec by 22.6% in the 4th quarter. RiverPark Advisors LLC now owns 5,033 shares of the medical technology company’s stock worth $76,000 after purchasing an additional 928 shares during the last quarter. Handelsbanken Fonder AB increased its holdings in shares of Alphatec by 5.0% during the 4th quarter. Handelsbanken Fonder AB now owns 20,900 shares of the medical technology company’s stock worth $316,000 after purchasing an additional 1,000 shares during the period. Finally, State Board of Administration of Florida Retirement System raised its position in shares of Alphatec by 4.7% during the third quarter. State Board of Administration of Florida Retirement System now owns 22,904 shares of the medical technology company’s stock valued at $297,000 after buying an additional 1,030 shares during the last quarter. Institutional investors own 66.35% of the company’s stock.

Alphatec Trading Up 0.2 %

Alphatec stock opened at $10.12 on Friday. Alphatec has a 1 year low of $8.66 and a 1 year high of $19.14. The firm’s 50 day moving average price is $12.70 and its two-hundred day moving average price is $13.58. The firm has a market cap of $1.42 billion, a price-to-earnings ratio of -6.79 and a beta of 1.48. The company has a debt-to-equity ratio of 13.63, a quick ratio of 1.49 and a current ratio of 2.39.

Alphatec (NASDAQ:ATEC) last announced its earnings results on Tuesday, May 7th. The medical technology company reported ($0.34) EPS for the quarter, missing the consensus estimate of ($0.33) by ($0.01). The company had revenue of $138.48 million for the quarter, compared to analysts’ expectations of $134.07 million. Alphatec had a negative net margin of 37.45% and a negative return on equity of 1,767.81%. The company’s revenue for the quarter was up 26.9% on a year-over-year basis. During the same period in the prior year, the company earned ($0.40) earnings per share. On average, research analysts predict that Alphatec will post -1.05 EPS for the current fiscal year.

Alphatec Company Profile

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.