Brokerages Set Alphatec Holdings, Inc. (NASDAQ:ATEC) Target Price at $17.89

Alphatec Holdings, Inc. (NASDAQ:ATEC - Get Free Report) has earned an average rating of "Moderate Buy" from the nine brokerages that are presently covering the company, Marketbeat.com reports. One equities research analyst has rated the stock with a hold recommendation and eight have issued a buy recommendation on the company. The average 1 year price objective among brokerages that have issued ratings on the stock in the last year is $17.89.

A number of research firms have recently weighed in on ATEC. HC Wainwright reaffirmed a "buy" rating and set a $20.00 price target on shares of Alphatec in a research note on Monday, April 14th. Wall Street Zen upgraded shares of Alphatec from a "sell" rating to a "hold" rating in a research report on Friday, February 28th. Needham & Company LLC reiterated a "buy" rating and set a $16.00 price target on shares of Alphatec in a research report on Friday, May 2nd. Lake Street Capital upgraded Alphatec to a "buy" rating and set a $18.00 price target on the stock in a report on Monday, June 16th. Finally, Piper Sandler reaffirmed an "overweight" rating and issued a $15.00 price objective (up from $13.00) on shares of Alphatec in a research note on Friday, May 2nd.

Insider Transactions at Alphatec

In other Alphatec news, EVP Craig E. Hunsaker sold 186,122 shares of the stock in a transaction on Wednesday, June 4th. The stock was sold at an average price of $12.34, for a total transaction of $2,296,745.48. Following the transaction, the executive vice president now owns 1,463,896 shares of the company's stock, valued at $18,064,476.64. This represents a 11.28% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, COO Scott Lish sold 22,727 shares of the firm's stock in a transaction on Friday, June 13th. The stock was sold at an average price of $11.07, for a total value of $251,587.89. Following the sale, the chief operating officer now owns 748,918 shares in the company, valued at $8,290,522.26. This trade represents a 2.95% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 294,065 shares of company stock valued at $3,633,172 over the last three months. 22.80% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Alphatec

Large investors have recently added to or reduced their stakes in the business. Nuveen LLC acquired a new position in shares of Alphatec during the 1st quarter valued at about $135,874,000. Royal Bank of Canada grew its holdings in Alphatec by 171.2% in the fourth quarter. Royal Bank of Canada now owns 3,185,283 shares of the medical technology company's stock valued at $29,240,000 after purchasing an additional 2,010,806 shares during the period. American Century Companies Inc. increased its position in Alphatec by 36.5% during the fourth quarter. American Century Companies Inc. now owns 4,989,057 shares of the medical technology company's stock worth $45,800,000 after purchasing an additional 1,334,780 shares during the last quarter. MetLife Investment Management LLC raised its stake in Alphatec by 1,818.5% during the first quarter. MetLife Investment Management LLC now owns 1,213,943 shares of the medical technology company's stock worth $12,309,000 after purchasing an additional 1,150,669 shares during the period. Finally, Nuveen Asset Management LLC boosted its holdings in shares of Alphatec by 78.4% in the 4th quarter. Nuveen Asset Management LLC now owns 2,584,996 shares of the medical technology company's stock valued at $23,730,000 after purchasing an additional 1,136,330 shares during the last quarter. 66.35% of the stock is currently owned by hedge funds and other institutional investors.

Alphatec Price Performance

Shares of ATEC stock traded down $0.11 during mid-day trading on Friday, hitting $11.24. The stock had a trading volume of 1,248,126 shares, compared to its average volume of 2,064,292. The firm has a market cap of $1.64 billion, a PE ratio of -9.77 and a beta of 1.10. The company's 50-day simple moving average is $11.84 and its 200-day simple moving average is $10.87. Alphatec has a fifty-two week low of $4.88 and a fifty-two week high of $13.14.

Alphatec (NASDAQ:ATEC - Get Free Report) last announced its quarterly earnings data on Thursday, May 1st. The medical technology company reported ($0.35) EPS for the quarter, missing analysts' consensus estimates of ($0.12) by ($0.23). Alphatec had a negative net margin of 25.77% and a negative return on equity of 1,657.19%. The firm had revenue of $169.18 million during the quarter, compared to analyst estimates of $167.57 million. During the same quarter in the previous year, the business earned ($0.34) EPS. Alphatec's revenue for the quarter was up 22.2% on a year-over-year basis. On average, analysts expect that Alphatec will post -1.08 EPS for the current year.

Alphatec Company Profile

Alphatec Holdings, Inc, a medical technology company, designs, develops, and advances technologies for the surgical treatment of spinal disorders in the United States and internationally. It manufactures and sells implants and instruments through third-party suppliers. The company offers Alpha InformatiX product platform, including EOS imaging system that provides full-body imaging; VEA alignment mobile application, which leverages EOS technology to more quickly quantify alignment parameters on a mobile device; SafeOp Neural InformatiX System that automates electromyographic and somatosensory evoked potential monitoring; and Valence, an intra-operative system that integrates navigation and robotics into spine procedures, as well as Sigma Prone TransPsoas (PTP) Access and PTP Patient Positioning Systems.