Shares of Alphatec Holdings, Inc. (NASDAQ:ATEC) have been given a consensus rating of "Buy" by the seven brokerages that are currently covering the stock, Marketbeat reports. One investment analyst has rated the stock with a sell recommendation and five have issued a buy recommendation on the company. The average 12 month price target among analysts that have issued a report on the stock in the last year is $16.60.
ATEC has been the subject of several recent research reports. Canaccord Genuity restated a "buy" rating on shares of Alphatec in a report on Friday, April 9th. Zacks Investment Research lowered shares of Alphatec from a "hold" rating to a "sell" rating in a research note on Tuesday, July 13th.
In other news, Director David R. Pelizzon purchased 120,000 shares of the business's stock in a transaction that occurred on Monday, May 10th. The shares were acquired at an average cost of $15.25 per share, for a total transaction of $1,830,000.00. Following the completion of the acquisition, the director now owns 268,837 shares in the company, valued at $4,099,764.25. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP David Sponsel sold 30,000 shares of Alphatec stock in a transaction that occurred on Monday, May 3rd. The stock was sold at an average price of $15.97, for a total transaction of $479,100.00. Following the transaction, the executive vice president now directly owns 615,371 shares in the company, valued at approximately $9,827,474.87. The disclosure for this sale can be found here. Insiders have sold 51,965 shares of company stock valued at $823,844 in the last quarter. 34.38% of the stock is currently owned by corporate insiders.
Hedge funds have recently made changes to their positions in the business. BlackRock Inc. grew its position in shares of Alphatec by 11.5% during the 1st quarter. BlackRock Inc. now owns 4,372,095 shares of the medical technology company's stock valued at $69,036,000 after acquiring an additional 450,287 shares during the period. Deerfield Management Company L.P. Series C lifted its stake in Alphatec by 60.1% in the first quarter. Deerfield Management Company L.P. Series C now owns 3,201,916 shares of the medical technology company's stock valued at $50,558,000 after purchasing an additional 1,201,916 shares during the last quarter. Perceptive Advisors LLC purchased a new position in Alphatec in the first quarter valued at approximately $25,490,000. Price T Rowe Associates Inc. MD bought a new position in Alphatec during the fourth quarter valued at $16,677,000. Finally, Principal Financial Group Inc. increased its position in Alphatec by 7,934.8% in the first quarter. Principal Financial Group Inc. now owns 1,019,541 shares of the medical technology company's stock worth $16,099,000 after buying an additional 1,006,852 shares during the last quarter. 44.34% of the stock is currently owned by institutional investors and hedge funds.
NASDAQ:ATEC opened at $14.49 on Wednesday. The company has a quick ratio of 3.16, a current ratio of 3.98 and a debt-to-equity ratio of 0.36. Alphatec has a twelve month low of $4.87 and a twelve month high of $19.36. The company has a fifty day moving average of $14.74. The company has a market cap of $1.41 billion, a price-to-earnings ratio of -13.17 and a beta of 1.64.
Alphatec (NASDAQ:ATEC) last posted its quarterly earnings results on Thursday, May 6th. The medical technology company reported ($0.26) EPS for the quarter, missing analysts' consensus estimates of ($0.19) by ($0.07). Alphatec had a negative return on equity of 116.47% and a negative net margin of 51.10%. The company had revenue of $44.12 million during the quarter, compared to analyst estimates of $44.10 million. Equities research analysts anticipate that Alphatec will post -0.8 EPS for the current fiscal year.
Alphatec Holdings, Inc, a medical technology company, designs, develops, and advances technologies for the surgical treatment of spinal disorders. The company offers SafeOp Neural InformatiX System, an Alpha InformatiX product platform designed to reduce the risk of intraoperative nerve injury; squadron lateral retractor designed to maximize patient outcomes; Sigma transforaminal lumbar interbody fusion pedicle-based access system that provides direct visualization of anatomical landmarks; Sigma PTP Access and Patient Positioning System; Invictus Spinal Fixation System, a thoracolumbar fixation system to treat a range of pathologies; and Invictus MIS SingleStep System designed to improve surgical efficiency without compromising accuracy.
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