Alphatec Holdings, Inc. (NASDAQ:ATEC) Receives $17.56 Average Price Target from Brokerages

Alphatec Holdings, Inc. (NASDAQ:ATEC) has earned a consensus rating of “Moderate Buy” from the nine brokerages that are presently covering the stock, Marketbeat Ratings reports. One investment analyst has rated the stock with a hold rating and eight have assigned a buy rating to the company. The average 12-month price objective among brokerages that have covered the stock in the last year is $17.56.

Several research analysts have recently weighed in on the company. Needham & Company LLC boosted their price target on Alphatec from $13.00 to $16.00 and gave the stock a “buy” rating in a research note on Monday, January 13th. Barclays boosted their target price on Alphatec from $20.00 to $21.00 and gave the stock an “overweight” rating in a research report on Wednesday, January 22nd. Finally, HC Wainwright reaffirmed a “buy” rating and set a $20.00 price target on shares of Alphatec in a report on Tuesday, January 14th.

Insider Buying and Selling

In other news, CEO Patrick Miles sold 6,687 shares of the firm’s stock in a transaction dated Tuesday, January 21st. The stock was sold at an average price of $12.00, for a total value of $80,244.00. Following the transaction, the chief executive officer now owns 5,501,715 shares of the company’s stock, valued at $66,020,580. This trade represents a 0.12 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP David Sponsel sold 58,283 shares of the business’s stock in a transaction that occurred on Monday, January 13th. The shares were sold at an average price of $10.71, for a total value of $624,210.93. Following the transaction, the executive vice president now owns 502,311 shares of the company’s stock, valued at approximately $5,379,750.81. This trade represents a 10.40 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 65,208 shares of company stock valued at $706,835. 22.80% of the stock is owned by insiders.

Hedge Funds Weigh In On Alphatec

Large investors have recently added to or reduced their stakes in the company. Envestnet Asset Management Inc. lifted its stake in shares of Alphatec by 5.8% during the 2nd quarter. Envestnet Asset Management Inc. now owns 404,866 shares of the medical technology company’s stock valued at $4,231,000 after buying an additional 22,047 shares in the last quarter. Hsbc Holdings PLC raised its holdings in Alphatec by 130.1% during the second quarter. Hsbc Holdings PLC now owns 33,403 shares of the medical technology company’s stock valued at $347,000 after acquiring an additional 18,888 shares during the period. Sei Investments Co. lifted its position in shares of Alphatec by 4.7% in the second quarter. Sei Investments Co. now owns 111,460 shares of the medical technology company’s stock valued at $1,165,000 after acquiring an additional 4,976 shares in the last quarter. Marshall Wace LLP boosted its stake in shares of Alphatec by 44.7% in the second quarter. Marshall Wace LLP now owns 1,099,692 shares of the medical technology company’s stock worth $11,492,000 after acquiring an additional 339,832 shares during the period. Finally, Point72 Asset Management L.P. boosted its stake in shares of Alphatec by 65.2% in the second quarter. Point72 Asset Management L.P. now owns 3,192,789 shares of the medical technology company’s stock worth $33,365,000 after acquiring an additional 1,260,137 shares during the period. Hedge funds and other institutional investors own 66.35% of the company’s stock.

Alphatec Price Performance

Shares of ATEC opened at $12.06 on Thursday. Alphatec has a twelve month low of $4.88 and a twelve month high of $17.34. The company has a market capitalization of $1.71 billion, a P/E ratio of -9.42 and a beta of 1.41. The firm has a 50 day moving average of $10.05 and a 200 day moving average of $8.10. The company has a quick ratio of 1.15, a current ratio of 2.32 and a debt-to-equity ratio of 30.21.

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.