Alphatec Holdings, Inc. (NASDAQ:ATEC) Given Average Rating of "Moderate Buy" by Brokerages

Key Points

• Alphatec Holdings has an average analyst rating of “Moderate Buy” from 12 research firms, with 10 buy ratings, one hold, and one sell. The average 1-year price target is about $18.58.
• The company’s latest quarterly results missed analyst expectations, with EPS of -$0.22 versus an expected -$0.01 and revenue of $192.11 million versus an estimated $197.51 million. Revenue still rose 13.6% year over year.
• Insiders have been selling shares, including sales by the general counsel and EVP, while hedge funds and other institutional investors own 66.35% of the stock. Alphatec’s shares recently traded near $7.74, well below the average price target.

Alphatec Holdings, Inc. (NASDAQ:ATEC - Get Free Report) has earned an average rating of "Moderate Buy" from the twelve research firms that are covering the firm, Marketbeat.com reports. One equities research 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 1 year target price among brokers that have covered the stock in the last year is $18.5833.

ATEC has been the subject of a number of research reports. Needham & Company LLC reduced their price target on shares of Alphatec from $25.00 to $14.00 and set a "buy" rating for the company in a research report on Wednesday, May 6th. Canaccord Genuity Group reduced their price target on shares of Alphatec from $25.00 to $23.00 and set a "buy" rating for the company in a research report on Wednesday, May 6th. Lake Street Capital reiterated a "buy" rating and set a $15.00 price target on shares of Alphatec in a research report on Wednesday, May 6th. Piper Sandler reiterated an "overweight" rating and set a $14.00 price target (down from $25.00) on shares of Alphatec in a research report on Wednesday, May 6th. Finally, Wells Fargo & Company reduced their price target on shares of Alphatec from $28.00 to $14.00 and set an "overweight" rating for the company in a research report on Thursday, May 7th.

Insider Buying and Selling at Alphatec

In other news, General Counsel Tyson Eliot Marshall sold 88,835 shares of the firm's stock in a transaction that occurred on Thursday, March 5th. The shares were sold at an average price of $12.49, for a total transaction of $1,109,549.15. Following the completion of the transaction, the general counsel directly owned 559,459 shares of the company's stock, valued at $6,987,642.91. This trade represents a 13.70% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP David Sponsel sold 163,452 shares of the firm's stock in a transaction that occurred on Wednesday, March 11th. The stock was sold at an average price of $12.52, for a total transaction of $2,046,419.04. Following the transaction, the executive vice president directly owned 504,932 shares of the company's stock, valued at approximately $6,321,748.64. This trade represents a 24.45% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders sold 629,189 shares of company stock valued at $7,801,589. Company insiders own 13.48% of the company's stock.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the business. PNC Financial Services Group Inc. increased its stake in shares of Alphatec by 1.5% during the 1st quarter. PNC Financial Services Group Inc. now owns 318,319 shares of the medical technology company's stock worth $3,463,000 after purchasing an additional 4,643 shares in the last quarter. Independent Financial Group LLC purchased a new position in shares of Alphatec during the 1st quarter worth approximately $431,000. Sanctuary Advisors LLC purchased a new position in shares of Alphatec during the 1st quarter worth approximately $197,000. Emerald Mutual Fund Advisers Trust increased its stake in shares of Alphatec by 27.1% during the 1st quarter. Emerald Mutual Fund Advisers Trust now owns 1,156,826 shares of the medical technology company's stock worth $12,586,000 after purchasing an additional 246,773 shares in the last quarter. Finally, Emerald Advisers LLC increased its stake in shares of Alphatec by 10.4% during the 1st quarter. Emerald Advisers LLC now owns 1,807,307 shares of the medical technology company's stock worth $19,664,000 after purchasing an additional 169,578 shares in the last quarter. 66.35% of the stock is owned by hedge funds and other institutional investors.

Alphatec Price Performance

ATEC stock opened at $7.74 on Wednesday. The firm has a 50 day moving average of $11.09 and a 200-day moving average of $15.68. Alphatec has a 12-month low of $6.82 and a 12-month high of $23.29. The company has a current ratio of 1.90, a quick ratio of 1.12 and a debt-to-equity ratio of 40.35. The company has a market cap of $1.19 billion, a price-to-earnings ratio of -9.44 and a beta of 0.96.

Alphatec (NASDAQ:ATEC - Get Free Report) last posted its quarterly earnings results on Tuesday, May 5th. The medical technology company reported ($0.22) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.01) by ($0.21). Alphatec had a negative net margin of 15.93% and a negative return on equity of 1,183.84%. The company had revenue of $192.11 million for the quarter, compared to analyst estimates of $197.51 million. During the same quarter in the previous year, the business posted ($0.35) earnings per share. Alphatec's revenue was up 13.6% on a year-over-year basis. As a group, equities analysts expect that Alphatec will post -0.28 EPS for the current fiscal year.

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.

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