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

Key Points

• Analysts maintain a “Moderate Buy” consensus on Alphatec, with 10 buy ratings, two strong-buy ratings, one hold and one sell. The average 12-month price target is $17.29, roughly double the stock’s $8.26 opening price.
• Recent analysts have sharply reduced their price targets, including Barclays to $24, TD Cowen to $11, Wells Fargo to $14 and Needham to $14, while maintaining positive ratings except for Wall Street Zen’s downgrade to “Hold.”
• ATEC shares have declined substantially, trading between a 52-week low of $6.82 and high of $23.29, with the stock below both its 50-day ($8.50) and 200-day ($11.33) moving averages. Institutional investors own 66.35% of the company.

Alphatec Holdings, Inc. (NASDAQ:ATEC - Get Free Report) has been assigned a consensus recommendation of "Moderate Buy" from the fourteen ratings firms that are presently covering the firm, Marketbeat.com reports. One analyst has rated the stock with a sell rating, one has given a hold rating, ten have issued a buy rating and two have assigned a strong buy rating to the company. The average 12-month price objective among brokerages that have issued a report on the stock in the last year is $17.2857.

Several equities research analysts have recently weighed in on ATEC shares. Barclays reduced their target price on shares of Alphatec from $27.00 to $24.00 and set an "overweight" rating on the stock in a research note on Thursday, May 7th. TD Cowen cut their price target on shares of Alphatec from $20.00 to $11.00 and set a "buy" rating on the stock in a report on Wednesday, May 6th. Wells Fargo & Company reduced their price objective on shares of Alphatec from $28.00 to $14.00 and set an "overweight" rating on the stock in a research report on Thursday, May 7th. Wall Street Zen downgraded shares of Alphatec from a "buy" rating to a "hold" rating in a research note on Sunday, July 12th. Finally, Needham & Company LLC dropped their target price on Alphatec from $25.00 to $14.00 and set a "buy" rating for the company in a research report on Wednesday, May 6th.

Alphatec Stock Performance

NASDAQ:ATEC opened at $8.26 on Monday. The firm has a market capitalization of $1.27 billion, a PE ratio of -10.07 and a beta of 0.85. The stock's fifty day moving average is $8.50 and its 200 day moving average is $11.33. Alphatec has a fifty-two week low of $6.82 and a fifty-two week high of $23.29. The company has a debt-to-equity ratio of 40.35, a quick ratio of 1.12 and a current ratio of 1.90.

Insider Buying and Selling at Alphatec

In other news, Director Karen K. Mcginnis sold 6,050 shares of the stock in a transaction that occurred on Thursday, June 11th. The stock was sold at an average price of $8.01, for a total value of $48,460.50. Following the sale, the director directly owned 94,671 shares in the company, valued at approximately $758,314.71. This represents a 6.01% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed 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. Insiders own 13.48% of the company's stock.

Institutional Trading of Alphatec

Several institutional investors and hedge funds have recently made changes to their positions in ATEC. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in shares of Alphatec by 4.5% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 74,005 shares of the medical technology company's stock valued at $750,000 after purchasing an additional 3,196 shares during the period. Dynamic Technology Lab Private Ltd purchased a new position in Alphatec in the 1st quarter worth about $257,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its holdings in Alphatec by 18.4% during the 1st 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 valued at $2,696,000 after buying an additional 41,264 shares in the last quarter. Quantbot Technologies LP bought a new stake in Alphatec during the 2nd quarter valued at about $242,000. Finally, Invesco Ltd. boosted its position in Alphatec by 455.0% in the 2nd quarter. Invesco Ltd. now owns 282,212 shares of the medical technology company's stock valued at $3,133,000 after buying an additional 231,367 shares during the period. 66.35% of the stock is currently owned by institutional investors.

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.

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