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

Key Points

• Analyst sentiment is moderately bullish: Thirteen of 15 analysts rate Alphatec a buy, while one rates it a hold and one a sell. The average 12-month price target is $17.40, above the stock’s reported $10.86 price.
• Quarterly results met expectations: Alphatec reported $0.07 in EPS and $213.51 million in revenue, exceeding the revenue consensus and marking 15.1% year-over-year growth. Analysts expect a full-year loss of $0.45 per share.
• Insider and institutional activity was mixed: CEO Patrick Miles bought 115,000 shares, while the general counsel sold shares under a pre-arranged plan to cover tax obligations. Institutional investors own 66.35% of the company, and insiders own 13.48%.

Shares of Alphatec Holdings, Inc. (NASDAQ:ATEC - Get Free Report) have been given a consensus recommendation of "Moderate Buy" by the fifteen analysts that are covering the company, Marketbeat reports. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and thirteen have given a buy rating to the company. The average twelve-month price target among analysts that have issued a report on the stock in the last year is $17.40.

A number of equities research analysts have issued reports on ATEC shares. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Alphatec in a research report on Monday, August 3rd. Wall Street Zen downgraded Alphatec from a "buy" rating to a "hold" rating in a research note on Sunday, July 12th. UBS Group upped their target price on Alphatec from $15.00 to $16.00 and gave the company a "buy" rating in a report on Wednesday, August 5th. Stifel Nicolaus decreased their price target on Alphatec from $16.00 to $13.00 and set a "buy" rating for the company in a research report on Wednesday, July 8th. Finally, Stephens started coverage on Alphatec in a report on Thursday, July 23rd. They set an "overweight" rating and a $15.00 price target on the stock.

Alphatec Stock Up 2.6%

ATEC stock opened at $10.86 on Tuesday. The firm has a market capitalization of $1.68 billion, a PE ratio of -15.30 and a beta of 0.85. The company has a quick ratio of 1.07, a current ratio of 1.89 and a debt-to-equity ratio of 40.35. Alphatec has a twelve month low of $6.82 and a twelve month high of $23.29. The stock's 50 day moving average is $9.33 and its 200-day moving average is $9.76.

Alphatec (NASDAQ:ATEC - Get Free Report) last announced its quarterly earnings results on Tuesday, August 4th. The medical technology company reported $0.07 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.07. Alphatec had a negative return on equity of 6,752.24% and a negative net margin of 13.49%.The business had revenue of $213.51 million during the quarter, compared to the consensus estimate of $211.26 million. During the same quarter in the prior year, the company posted $0.02 earnings per share. Alphatec's revenue was up 15.1% compared to the same quarter last year. Sell-side analysts expect that Alphatec will post -0.45 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, CEO Patrick Miles acquired 115,000 shares of the firm's stock in a transaction that occurred on Thursday, September 10th. The stock was acquired at an average price of $8.81 per share, for a total transaction of $1,013,150.00. Following the completion of the acquisition, the chief executive officer owned 5,893,551 shares of the company's stock, valued at approximately $51,922,184.31. This represents a 1.99% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, General Counsel Tyson Marshall sold 8,168 shares of the firm's stock in a transaction that occurred on Wednesday, August 5th. The stock was sold at an average price of $9.65, for a total transaction of $78,821.20. Following the sale, the general counsel owned 630,398 shares of the company's stock, valued at approximately $6,083,340.70. The trade was a 1.28% decrease in their position. The disclosure for this sale is available in the SEC filing. 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. 13.48% of the stock is owned by corporate insiders.

Institutional Trading of Alphatec

Several hedge funds have recently made changes to their positions in the company. Integrated Wealth Concepts LLC purchased a new position in shares of Alphatec during the 2nd quarter valued at $52,000. Allworth Financial LP increased its holdings in Alphatec by 82.6% in the 2nd quarter. Allworth Financial LP now owns 6,666 shares of the medical technology company's stock worth $58,000 after acquiring an additional 3,015 shares during the last quarter. VIRGINIA RETIREMENT SYSTEMS ET Al bought a new stake in Alphatec in the 2nd quarter valued at about $218,000. California State Teachers Retirement System lifted its holdings in Alphatec by 743.5% during the second quarter. California State Teachers Retirement System now owns 1,245,358 shares of the medical technology company's stock valued at $10,772,000 after purchasing an additional 1,097,708 shares during the last quarter. Finally, FirstWave Capital Management LLC purchased a new stake in Alphatec during the second quarter valued at about $1,244,000. 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 improving the surgical treatment of spinal disorders. The company develops and commercializes products designed to support spine surgery, including implants, biologics, surgical instruments and related technologies.

Its portfolio is intended for procedures addressing conditions such as spinal deformities, degenerative disc disease and other disorders affecting the spine. Alphatec emphasizes surgeon-focused solutions and integrated technologies that support preoperative planning, intraoperative decision-making and the placement of spinal implants.

Headquartered in Carlsbad, California, Alphatec serves hospitals, surgeons and other healthcare providers in the United States and select international markets.

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