Alphatec Holdings, Inc. (NASDAQ:ATEC) Receives Consensus Recommendation of “Buy” from Brokerages

Shares of Alphatec Holdings, Inc. (NASDAQ:ATEC – Get Rating) have been assigned an average recommendation of “Buy” from the eight brokerages that are currently covering the stock, Marketbeat reports. One investment analyst has rated the stock with a sell recommendation, one has issued a hold recommendation and five have given a buy recommendation to the company. The average 12-month price objective among brokers that have updated their coverage on the stock in the last year is $18.71.

ATEC has been the subject of several research analyst reports. StockNews.com assumed coverage on shares of Alphatec in a report on Thursday, March 31st. They set a “sell” rating for the company. Needham & Company LLC reduced their price target on Alphatec from $15.00 to $13.00 and set a “buy” rating on the stock in a report on Thursday, May 26th. Piper Sandler decreased their price objective on Alphatec from $22.00 to $17.00 and set an “overweight” rating for the company in a report on Wednesday, March 2nd. Finally, HC Wainwright lifted their target price on Alphatec from $19.00 to $20.00 in a report on Friday, May 6th.

In related news, major shareholder Paul Segal bought 50,000 shares of the company’s stock in a transaction that occurred on Tuesday, June 14th. The shares were bought at an average price of $6.95 per share, for a total transaction of $347,500.00. Following the transaction, the insider now directly owns 288,825 shares of the company’s stock, valued at $2,007,333.75. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Patrick Miles sold 100,000 shares of the firm’s stock in a transaction on Wednesday, May 18th. The stock was sold at an average price of $8.34, for a total transaction of $834,000.00. Following the completion of the sale, the chief executive officer now owns 5,858,634 shares of the company’s stock, valued at $48,861,007.56. The disclosure for this sale can be found here. Over the last three months, insiders bought 79,700 shares of company stock worth $563,300 and sold 301,630 shares worth $2,360,674. 34.38% of the stock is owned by insiders.

Several institutional investors and hedge funds have recently modified their holdings of the company. Wells Fargo & Company MN raised its stake in Alphatec by 30.7% during the 2nd quarter. Wells Fargo & Company MN now owns 131,286 shares of the medical technology company’s stock worth $2,011,000 after buying an additional 30,804 shares during the period. Morgan Stanley raised its position in shares of Alphatec by 69.8% during the second quarter. Morgan Stanley now owns 542,189 shares of the medical technology company’s stock worth $8,306,000 after purchasing an additional 222,958 shares during the period. Citigroup Inc. lifted its holdings in shares of Alphatec by 73.4% in the 3rd quarter. Citigroup Inc. now owns 9,308 shares of the medical technology company’s stock worth $113,000 after purchasing an additional 3,941 shares in the last quarter. Goldman Sachs Group Inc. grew its position in Alphatec by 83.0% in the 3rd quarter. Goldman Sachs Group Inc. now owns 314,456 shares of the medical technology company’s stock valued at $3,833,000 after purchasing an additional 142,612 shares during the period. Finally, Geode Capital Management LLC increased its stake in Alphatec by 6.2% during the 3rd quarter. Geode Capital Management LLC now owns 1,182,759 shares of the medical technology company’s stock valued at $14,417,000 after purchasing an additional 69,561 shares in the last quarter. Institutional investors own 53.52% of the company’s stock.

Alphatec stock opened at $6.53 on Friday. The stock has a fifty day moving average of $9.24 and a 200-day moving average of $10.48. The stock has a market capitalization of $664.49 million, a P/E ratio of -3.96 and a beta of 1.59. The company has a debt-to-equity ratio of 7.78, a quick ratio of 1.76 and a current ratio of 2.62. Alphatec has a 52 week low of $6.19 and a 52 week high of $16.47.

Alphatec (NASDAQ:ATEC – Get Rating) last posted its earnings results on Thursday, May 5th. The medical technology company reported ($0.43) EPS for the quarter, missing analysts’ consensus estimates of ($0.29) by ($0.14). Alphatec had a negative return on equity of 147.10% and a negative net margin of 60.83%. The company had revenue of $70.93 million during the quarter, compared to the consensus estimate of $67.72 million. On average, research analysts forecast that Alphatec will post -1.31 earnings per share for the current year.

About Alphatec (Get Rating)

Alphatec Holdings, Inc, a medical technology company, designs, develops, and advances technologies for the surgical treatment of spinal disorders. The company offers SafeOp Neural InformatiX System, an Alpha InformatiX product platform designed to reduce the risk of intraoperative nerve injury; Sigma transforaminal lumbar interbody fusion pedicle-based access system that provides direct visualization of anatomical landmarks; Sigma PTP Access and Patient Positioning System; squadron lateral retractor designed to maximize patient outcomes; Invictus Spinal Fixation System, a thoracolumbar fixation system to treat a range of pathologies; and Invictus MIS SingleStep System that provides minimally invasive pedicle screw placement.

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