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

Key Points

• Alphatec Holdings has a “Moderate Buy” consensus from 12 brokerages, with 10 buy ratings, one hold, and one sell. The average 1-year analyst price target is $18.58.
• The company’s recent earnings missed expectations, reporting -$0.22 EPS versus the expected -$0.01 and revenue of $192.11 million versus the $197.51 million estimate. Revenue still rose 13.6% year over year, but the firm remains unprofitable.
• Alphatec’s stock opened at $8.00, well below its 52-week high of $23.29, while insiders have also been selling shares. Institutional investors remain active, and 66.35% of the stock is owned by funds and other institutions.

Alphatec Holdings, Inc. (NASDAQ:ATEC - Get Free Report) has earned an average rating of "Moderate Buy" from the twelve brokerages that are covering the company, Marketbeat.com reports. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and ten have assigned a buy rating to the company. The average 1-year price target among analysts that have covered the stock in the last year is $18.5833.

ATEC has been the subject of a number of recent research reports. Wells Fargo & Company reduced their price objective on shares of Alphatec from $28.00 to $14.00 and set an "overweight" rating for the company in a research note on Thursday, May 7th. Stifel Nicolaus reduced their price objective on shares of Alphatec from $24.00 to $20.00 and set a "buy" rating for the company in a research note on Monday, March 9th. JPMorgan Chase & Co. reduced their price objective on shares of Alphatec from $24.00 to $16.00 and set an "overweight" rating for the company in a research note on Wednesday, May 6th. TD Cowen cut their target price on shares of Alphatec from $20.00 to $11.00 and set a "buy" rating for the company in a research note on Wednesday, May 6th. Finally, Weiss Ratings upgraded shares of Alphatec from a "sell (e+)" rating to a "sell (d-)" rating in a research note on Wednesday, May 6th.

Alphatec Price Performance

ATEC stock opened at $8.00 on Friday. The stock has a 50-day moving average price of $9.42 and a two-hundred day moving average price of $14.35. The stock has a market cap of $1.23 billion, a PE ratio of -9.76 and a beta of 0.88. The company has a current ratio of 1.90, a quick ratio of 1.12 and a debt-to-equity ratio of 40.35. Alphatec has a 1 year low of $6.82 and a 1 year high of $23.29.

Alphatec (NASDAQ:ATEC - Get Free Report) last released its 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). The firm had revenue of $192.11 million for the quarter, compared to the consensus estimate of $197.51 million. Alphatec had a negative return on equity of 1,183.84% and a negative net margin of 15.93%.Alphatec's revenue for the quarter was up 13.6% on a year-over-year basis. During the same quarter last year, the company posted ($0.35) EPS. Equities analysts forecast that Alphatec will post -0.44 EPS for the current fiscal year.

Insider Activity at Alphatec

In related news, COO Scott Lish sold 260,535 shares of the firm's stock in a transaction dated Friday, March 13th. The shares were sold at an average price of $12.30, for a total value of $3,204,580.50. Following the completion of the sale, the chief operating officer directly owned 815,704 shares in the company, valued at approximately $10,033,159.20. This trade represents a 24.21% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP Craig E. Hunsaker sold 82,765 shares of the firm's stock in a transaction dated Monday, March 9th. The shares were sold at an average price of $12.45, for a total transaction of $1,030,424.25. Following the completion of the sale, the executive vice president owned 1,726,209 shares of the company's stock, valued at $21,491,302.05. This trade represents a 4.58% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders sold 506,752 shares of company stock worth $6,281,424. Insiders own 13.48% of the company's stock.

Institutional Investors Weigh In On Alphatec

Several hedge funds have recently bought and sold shares of ATEC. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in 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 worth $750,000 after acquiring an additional 3,196 shares during the last quarter. Dynamic Technology Lab Private Ltd acquired a new stake in Alphatec during the first quarter worth approximately $257,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its position 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 acquiring an additional 41,264 shares during the last quarter. Quantbot Technologies LP acquired a new stake in Alphatec during the second quarter worth approximately $242,000. Finally, Invesco Ltd. lifted 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 acquiring an additional 231,367 shares during the last quarter. 66.35% of the stock is currently owned by institutional investors and hedge funds.

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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