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

Shares of Alphatec Holdings, Inc. (NASDAQ:ATEC) have earned a consensus rating of “Moderate Buy” from the fifteen research firms that are currently covering the firm, Marketbeat reports. One equities research analyst has rated the stock with a sell rating, one has given a hold rating, twelve have assigned a buy rating and one has assigned a strong 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 $17.1333.

Several research analysts have weighed in on the stock. Piper Sandler reaffirmed an “overweight” rating and set a $14.00 target price (down from $25.00) on shares of Alphatec in a research note on Wednesday, May 6th. BMO Capital Markets initiated coverage on Alphatec in a report on Wednesday, July 8th. They set an “outperform” rating and a $11.00 price target on the stock. Canaccord Genuity Group dropped their price objective on shares of Alphatec from $25.00 to $23.00 and set a “buy” rating on the stock in a research report on Wednesday, May 6th. TD Cowen dropped their price objective on Alphatec from $20.00 to $11.00 and set a “buy” rating on the stock in a report on Wednesday, May 6th. Finally, JPMorgan Chase & Co. cut their price target on shares of Alphatec from $24.00 to $16.00 and set an “overweight” rating on the stock in a research note on Wednesday, May 6th.

Alphatec Trading Up 3.5%

Shares of Alphatec stock opened at $9.65 on Monday. The stock has a 50 day moving average of $8.56 and a 200 day moving average of $11.06. The company has a debt-to-equity ratio of 40.35, a quick ratio of 1.12 and a current ratio of 1.90. The firm has a market capitalization of $1.48 billion, a price-to-earnings ratio of -11.77 and a beta of 0.85. Alphatec has a fifty-two week low of $6.82 and a fifty-two week high of $23.29.

Insider Activity at Alphatec

In related news, Director Karen K. Mcginnis sold 6,050 shares of the company’s 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 completion of the sale, the director owned 94,671 shares in the company, valued at $758,314.71. This represents a 6.01% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available 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. 13.48% of the stock is owned by insiders.

Institutional Investors Weigh In On Alphatec

Large investors have recently modified their holdings of the stock. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in shares of Alphatec by 4.5% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 74,005 shares of the medical technology company’s stock worth $750,000 after acquiring an additional 3,196 shares during the period. Dynamic Technology Lab Private Ltd acquired a new stake in shares of Alphatec during the 1st quarter valued at approximately $257,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its holdings in Alphatec by 18.4% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 265,907 shares of the medical technology company’s stock worth $2,696,000 after purchasing an additional 41,264 shares during the last quarter. Quantbot Technologies LP purchased a new stake in Alphatec during the second quarter worth $242,000. Finally, Invesco Ltd. boosted its position in Alphatec by 455.0% during the second quarter. Invesco Ltd. now owns 282,212 shares of the medical technology company’s stock worth $3,133,000 after purchasing an additional 231,367 shares in the last quarter. Hedge funds and other institutional investors 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.