Brokerages Set Alphatec Holdings, Inc. (NASDAQ:ATEC) Price Target at $22.82

Shares of Alphatec Holdings, Inc. (NASDAQ:ATEC) have earned a consensus recommendation of “Moderate Buy” from the twelve research firms that are currently covering the company, MarketBeat reports. One analyst has rated the stock with a sell recommendation, one has assigned a hold recommendation and ten have given a buy recommendation to the company. The average twelve-month price objective among analysts that have updated their coverage on the stock in the last year is $22.8182.

Several equities analysts have recently commented on the company. Needham & Company LLC restated a “buy” rating and set a $22.00 price target on shares of Alphatec in a research note on Monday, January 12th. Loop Capital set a $25.00 target price on shares of Alphatec in a research report on Wednesday, December 10th. Lake Street Capital reaffirmed a “buy” rating on shares of Alphatec in a research report on Wednesday. Piper Sandler reiterated an “overweight” rating on shares of Alphatec in a research note on Wednesday. Finally, Morgan Stanley set a $23.00 price objective on shares of Alphatec in a report on Tuesday, December 2nd.

Alphatec Stock Performance

Alphatec stock opened at $13.62 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. The company has a market capitalization of $2.06 billion, a PE ratio of -14.34 and a beta of 1.02. The company has a 50 day moving average price of $16.74 and a 200-day moving average price of $17.11. Alphatec has a fifty-two week low of $8.81 and a fifty-two week high of $23.29.

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

Insiders Place Their Bets

In other Alphatec news, CEO Patrick Miles sold 100,000 shares of the business’s stock in a transaction dated Monday, January 5th. The shares were sold at an average price of $21.01, for a total value of $2,101,000.00. Following the completion of the transaction, the chief executive officer directly owned 5,135,398 shares in the company, valued at approximately $107,894,711.98. The trade was a 1.91% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director David R. Pelizzon sold 250,000 shares of the stock in a transaction dated 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 of the company’s stock, valued at approximately $204,366,584.70. The trade was a 2.35% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders sold 1,336,125 shares of company stock worth $27,174,878. Insiders own 22.80% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of the company. Assenagon Asset Management S.A. boosted its position in shares of Alphatec by 7,083.2% in the 3rd quarter. Assenagon Asset Management S.A. now owns 750,429 shares of the medical technology company’s stock worth $10,911,000 after purchasing an additional 739,982 shares in the last quarter. American Century Companies Inc. raised its stake in Alphatec by 6.0% in the second quarter. American Century Companies Inc. now owns 6,177,161 shares of the medical technology company’s stock valued at $68,567,000 after buying an additional 347,130 shares during the last quarter. Lisanti Capital Growth LLC acquired a new stake in Alphatec in the third quarter worth about $3,305,000. SG Americas Securities LLC purchased a new stake in shares of Alphatec during the third quarter worth about $1,115,000. Finally, Y Intercept Hong Kong Ltd acquired a new position in shares of Alphatec during the third quarter valued at about $1,688,000. Institutional investors 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.