Alphatec Holdings, Inc. (NASDAQ:ATEC) Stock Has Consensus Target Price of $17.40 According to Brokerages

Key Points

• Analysts maintain a Moderate Buy consensus on Alphatec, with 13 buy ratings, one hold and one sell. The average 12-month price target is $17.40, well above the reported share price of $10.67.
• Alphatec’s latest quarterly results met EPS expectations at $0.07 and exceeded revenue forecasts with $213.51 million, while revenue increased 15.1% year over year. However, the company remains unprofitable, with a negative net margin and analysts forecasting a full-year loss.
• Insider and institutional activity was mixed but notable: the CEO purchased 115,000 shares, while the general counsel sold shares to cover tax obligations. Institutional investors own approximately 66.35% of the company.

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

Several research analysts have issued reports on the company. TD Cowen upped their price objective on Alphatec from $11.00 to $13.00 and gave the stock a "buy" rating in a report on Wednesday, August 5th. Stephens assumed coverage on Alphatec in a research note on Thursday, July 23rd. They issued an "overweight" rating and a $15.00 target price for the company. Weiss Ratings restated a "sell (d-)" rating on shares of Alphatec in a research report on Monday, August 3rd. BMO Capital Markets upped their price target on Alphatec from $11.00 to $12.00 and gave the company an "outperform" rating in a research note on Wednesday, August 5th. Finally, Wall Street Zen upgraded Alphatec from a "hold" rating to a "buy" rating in a report on Saturday, October 3rd.

Alphatec Trading Up 3.1%

Shares of NASDAQ ATEC opened at $10.67 on Friday. Alphatec has a 1-year low of $6.82 and a 1-year high of $23.29. The company has a market cap of $1.65 billion, a PE ratio of -15.03 and a beta of 0.78. The company has a 50-day moving average of $9.82 and a two-hundred day moving average of $9.44.

Alphatec (NASDAQ:ATEC - Get Free Report) last released its quarterly earnings results on Tuesday, August 4th. The medical technology company reported $0.07 EPS for the quarter, meeting the consensus estimate of $0.07. The business had revenue of $213.51 million for the quarter, compared to analysts' expectations of $211.26 million. Alphatec had a negative net margin of 13.49% and a negative return on equity of 6,752.24%. Alphatec's revenue was up 15.1% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.02 earnings per share. As a group, equities research analysts forecast that Alphatec will post -0.45 earnings per share for the current year.

Insider Activity

In other news, General Counsel Tyson Marshall sold 8,168 shares of Alphatec stock in a transaction that occurred on Wednesday, August 5th. The shares were sold at an average price of $9.65, for a total transaction of $78,821.20. Following the completion of the sale, the general counsel owned 630,398 shares in the company, valued at $6,083,340.70. The trade was a 1.28% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 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. Also, CEO Patrick Miles purchased 115,000 shares of the company's stock in a transaction that occurred on Thursday, September 10th. The shares were acquired at an average cost of $8.81 per share, with a total value of $1,013,150.00. Following the completion of the purchase, the chief executive officer owned 5,893,551 shares of the company's stock, valued at $51,922,184.31. The trade was a 1.99% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Insiders own 13.48% of the company's stock.

Institutional Trading of Alphatec

A number of institutional investors have recently bought and sold shares of ATEC. Paradigm Capital Management Inc. NY bought a new stake in Alphatec in the second quarter valued at about $9,413,000. Bank of America Corp DE lifted its stake in Alphatec by 26.9% in the first quarter. Bank of America Corp DE now owns 2,560,971 shares of the medical technology company's stock valued at $27,863,000 after buying an additional 543,059 shares during the period. FirstWave Capital Management LLC bought a new position in Alphatec during the second quarter worth about $1,244,000. Emerald Advisers LLC boosted its holdings in 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 buying an additional 169,578 shares during the last quarter. Finally, Bank of New York Mellon Corp bought a new position in Alphatec during the second quarter worth about $3,092,000. Institutional investors and hedge funds own 66.35% of the company's stock.

About Alphatec

Alphatec Holdings, Inc NASDAQ: ATEC is a medical technology company focused on the surgical treatment of spinal disorders. Through its Alphatec Spine business, the company develops and markets implants, biologics, instruments and procedural technologies designed to support spine surgery and improve patient outcomes.

Its product portfolio includes systems for spinal fusion and reconstruction, including interbody implants, fixation devices and navigation or imaging-enabled surgical solutions.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.