Alphatec Holdings, Inc. (NASDAQ:ATEC) Stock Has Average Price Target of $16.13

Key Points

• Analyst sentiment is broadly positive: 12 of 15 analysts rate Alphatec a buy, with an average 12-month price target of $16.13. However, several firms recently cut their targets, and ratings include two holds and one sell.
• Quarterly results fell short of estimates: Alphatec reported EPS of $0.09 versus $0.10 expected and revenue of $221.17 million versus $225.16 million expected, although revenue grew 12.6% year over year.
• Insiders have bought shares: Director David Demski purchased 60,000 shares for $408,600 under a pre-arranged trading plan; CEO Patrick Miles also bought shares in September.

Alphatec Holdings, Inc. (NASDAQ:ATEC - Get Free Report) has been assigned an average rating of "Moderate Buy" from the fifteen analysts that are covering the stock, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and twelve have issued a buy rating on the company. The average 12-month price target among analysts that have issued a report on the stock in the last year is $16.13.

A number of equities analysts have recently issued reports on ATEC shares. Needham & Company LLC reduced their target price on shares of Alphatec from $14.00 to $12.00 and set a "buy" rating on the stock in a research report on Friday. Wall Street Zen downgraded Alphatec from a "buy" rating to a "hold" rating in a report on Sunday, October 11th. Stifel Nicolaus decreased their price objective on Alphatec from $16.00 to $13.00 and set a "buy" rating on the stock in a research report on Wednesday, July 8th. JPMorgan Chase & Co. lowered their target price on Alphatec from $16.00 to $15.00 and set an "overweight" rating for the company in a research note on Friday, October 30th. Finally, Canaccord Genuity Group dropped their target price on Alphatec from $19.00 to $16.00 and set a "buy" rating for the company in a research report on Friday, October 30th.

Key Headlines Impacting Alphatec

Here are the key news stories impacting Alphatec this week:

• Positive Sentiment: Director David Demski bought 60,000 shares for $408,600, increasing his direct holdings by 13.9% to 491,635 shares. The purchase may indicate confidence, though it was made under a pre-arranged Rule 10b5-1 plan. Insider purchase report
• Neutral Sentiment: Canaccord Genuity cut its price target from $19 to $16 but retained a “buy” rating, leaving substantial implied upside from recent levels while signaling a lower valuation outlook. Canaccord price target report
• Negative Sentiment: BMO Capital Markets downgraded ATEC to “Market Perform.” Wells Fargo also lowered its price target; other recent analyst target reductions add to cautious sentiment. BMO rating report Wells Fargo price target report
• Negative Sentiment: SueWallSt announced an investigation into potential securities claims involving Alphatec. The notice does not establish wrongdoing, but may add uncertainty for investors. Shareholder investigation announcement
• Negative Sentiment: Recent quarterly results missed analyst estimates for both earnings and revenue, despite 12.6% year-over-year revenue growth. Ongoing losses and the stock’s position near its 52-week low remain concerns.

Insider Activity

In other news, Director David M. Demski acquired 60,000 shares of the company's stock in a transaction on Friday, October 30th. The stock was purchased at an average cost of $6.81 per share, with a total value of $408,600.00. Following the acquisition, the director owned 491,635 shares of the company's stock, valued at $3,348,034.35. This trade represents a 13.90% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Patrick Miles acquired 115,000 shares of the company's stock in a transaction on Thursday, September 10th. The shares were purchased at an average cost of $8.81 per share, with a total value of $1,013,150.00. Following the completion of the acquisition, the chief executive officer directly owned 5,893,551 shares in the company, valued at approximately $51,922,184.31. The trade was a 1.99% increase in their position. The SEC filing for this purchase provides additional information. 13.48% of the stock is owned by company insiders.

Hedge Funds Weigh In On Alphatec

A number of hedge funds and other institutional investors have recently bought and sold shares of ATEC. Bank of America Corp DE boosted its position in shares of Alphatec by 26.9% in the 1st quarter. Bank of America Corp DE now owns 2,560,971 shares of the medical technology company's stock worth $27,863,000 after purchasing an additional 543,059 shares during the last quarter. Emerald Advisers LLC grew its stake in shares of Alphatec by 10.4% during the first 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 during the period. Granite Investment Partners LLC increased its holdings in Alphatec by 4.7% in the first quarter. Granite Investment Partners LLC now owns 1,195,156 shares of the medical technology company's stock valued at $13,003,000 after purchasing an additional 54,043 shares during the last quarter. Emerald Mutual Fund Advisers Trust lifted its stake in Alphatec by 27.1% in the first quarter. Emerald Mutual Fund Advisers Trust now owns 1,156,826 shares of the medical technology company's stock valued at $12,586,000 after buying an additional 246,773 shares during the period. Finally, Renaissance Technologies LLC lifted its stake in Alphatec by 21.3% in the first quarter. Renaissance Technologies LLC now owns 1,055,100 shares of the medical technology company's stock valued at $11,479,000 after buying an additional 184,969 shares during the period. 66.35% of the stock is owned by institutional investors.

Alphatec Stock Performance

Alphatec stock opened at $7.47 on Wednesday. The firm has a market cap of $1.16 billion, a P/E ratio of -13.58 and a beta of 0.88. The business's fifty day moving average is $10.06 and its two-hundred day moving average is $10.53. Alphatec has a 52 week low of $6.81 and a 52 week high of $23.29.

Alphatec (NASDAQ:ATEC - Get Free Report) last announced its earnings results on Thursday, October 29th. The medical technology company reported $0.09 earnings per share for the quarter, missing analysts' consensus estimates of $0.10 by ($0.01). Alphatec had a negative net margin of 10.35% and a negative return on equity of 6,752.24%. The business had revenue of $221.17 million during the quarter, compared to analyst estimates of $225.16 million. During the same quarter last year, the business posted $0.03 earnings per share. The business's quarterly revenue was up 12.6% compared to the same quarter last year. On average, equities research analysts predict that Alphatec will post -0.45 earnings per share for the current year.

About Alphatec

Alphatec Holdings, Inc is a medical technology company focused on the design, development and commercialization of products and procedural solutions for spine surgery. The company aims to improve the treatment of spinal disorders through technologies that support spinal fusion, deformity correction, reconstruction and minimally invasive procedures.

Its portfolio includes spinal implants, surgical instruments, navigation and imaging technologies, and intraoperative monitoring solutions.

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