Brokerages Set Alphatec Holdings, Inc. (NASDAQ:ATEC) PT at $17.50

Alphatec Holdings, Inc. (NASDAQ:ATEC) has earned a consensus rating of “Moderate Buy” from the ten ratings firms that are currently covering the firm, Marketbeat.com reports. One analyst has rated the stock with a hold rating and nine have issued a buy rating on the company. The average 12-month target price among analysts that have issued ratings on the stock in the last year is $17.50.

Several equities analysts have weighed in on the stock. Needham & Company LLC decreased their target price on shares of Alphatec from $23.00 to $13.00 and set a “buy” rating on the stock in a report on Thursday, August 22nd. HC Wainwright reiterated a “buy” rating and issued a $20.00 price objective on shares of Alphatec in a research report on Thursday, August 1st. Stifel Nicolaus reduced their target price on Alphatec from $19.00 to $16.00 and set a “buy” rating on the stock in a research report on Thursday, August 1st. Canaccord Genuity Group reiterated a “buy” rating and set a $20.00 price target on shares of Alphatec in a report on Friday, August 30th. Finally, Wells Fargo & Company reduced their price objective on shares of Alphatec from $26.00 to $19.00 and set an “overweight” rating on the stock in a report on Thursday, August 1st.

Alphatec Trading Up 0.5 %

Shares of Alphatec stock opened at $5.59 on Friday. Alphatec has a 1-year low of $5.28 and a 1-year high of $17.34. The company has a debt-to-equity ratio of 30.21, a current ratio of 2.22 and a quick ratio of 1.21. The stock has a market cap of $781.95 million, a P/E ratio of -3.75 and a beta of 1.40. The stock’s 50 day simple moving average is $7.16 and its 200-day simple moving average is $10.17.

Alphatec (NASDAQ:ATEC) last issued its earnings results on Wednesday, July 31st. The medical technology company reported ($0.29) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.26) by ($0.03). The company had revenue of $145.57 million during the quarter, compared to analyst estimates of $144.55 million. Alphatec had a negative return on equity of 816.57% and a negative net margin of 33.48%. The firm’s revenue was up 24.5% compared to the same quarter last year. During the same period last year, the business earned ($0.43) earnings per share. Analysts predict that Alphatec will post -1.08 EPS for the current fiscal year.

Insider Buying and Selling

In other Alphatec news, Director David M. Demski purchased 50,000 shares of the company’s stock in a transaction on Wednesday, August 21st. The stock was acquired at an average price of $5.67 per share, for a total transaction of $283,500.00. Following the completion of the purchase, the director now directly owns 288,441 shares in the company, valued at approximately $1,635,460.47. The purchase was disclosed in a filing with the SEC, which is available through this link. 22.80% of the stock is owned by insiders.

Hedge Funds Weigh In On Alphatec

Institutional investors and hedge funds have recently made changes to their positions in the stock. Creative Planning lifted its stake in Alphatec by 112.7% in the second quarter. Creative Planning now owns 26,440 shares of the medical technology company’s stock worth $276,000 after acquiring an additional 14,007 shares during the last quarter. Lighthouse Investment Partners LLC lifted its position in shares of Alphatec by 257.5% during the 2nd quarter. Lighthouse Investment Partners LLC now owns 208,594 shares of the medical technology company’s stock worth $2,180,000 after purchasing an additional 150,244 shares during the last quarter. The Manufacturers Life Insurance Company grew its stake in shares of Alphatec by 8.9% during the second quarter. The Manufacturers Life Insurance Company now owns 58,257 shares of the medical technology company’s stock worth $609,000 after purchasing an additional 4,755 shares in the last quarter. Marathon Capital Management purchased a new position in Alphatec in the second quarter valued at $2,800,000. Finally, AQR Capital Management LLC raised its stake in Alphatec by 129.1% in the second quarter. AQR Capital Management LLC now owns 283,254 shares of the medical technology company’s stock valued at $2,960,000 after buying an additional 159,600 shares in the last quarter. 66.35% of the stock is owned by institutional investors and hedge funds.

About Alphatec

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.