Alphatec Holdings, Inc. (NASDAQ:ATEC – Get Rating) – Analysts at Jefferies Financial Group issued their Q1 2023 earnings per share (EPS) estimates for Alphatec in a research note issued on Wednesday, April 19th. Jefferies Financial Group analyst Y. Li forecasts that the medical technology company will post earnings of ($0.37) per share for the quarter. The consensus estimate for Alphatec’s current full-year earnings is ($1.02) per share. Jefferies Financial Group also issued estimates for Alphatec’s FY2023 earnings at ($1.14) EPS and FY2024 earnings at ($0.97) EPS.
Other research analysts have also issued reports about the company. Needham & Company LLC reiterated a “buy” rating and set a $18.00 target price on shares of Alphatec in a report on Monday, April 17th. Lake Street Capital lifted their target price on Alphatec from $16.50 to $20.00 and gave the stock a “buy” rating in a report on Thursday, January 12th. HC Wainwright restated a “buy” rating and issued a $20.00 price target on shares of Alphatec in a report on Wednesday, March 1st. StockNews.com upgraded Alphatec from a “sell” rating to a “hold” rating in a report on Wednesday, March 22nd. Finally, Morgan Stanley boosted their price target on Alphatec from $17.00 to $18.00 and gave the company an “overweight” rating in a report on Wednesday, March 1st. Two analysts have rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat, Alphatec currently has a consensus rating of “Moderate Buy” and an average price target of $16.25.
Alphatec Trading Down 1.3 %
Alphatec (NASDAQ:ATEC – Get Rating) last posted its earnings results on Tuesday, February 28th. The medical technology company reported ($0.33) earnings per share for the quarter, missing the consensus estimate of ($0.30) by ($0.03). The business had revenue of $105.94 million for the quarter, compared to the consensus estimate of $105.70 million. Alphatec had a negative return on equity of 575.45% and a negative net margin of 43.36%.
Insider Activity at Alphatec
In related news, Director James L. L Tullis sold 30,000 shares of Alphatec stock in a transaction dated Wednesday, March 8th. The stock was sold at an average price of $16.12, for a total value of $483,600.00. Following the sale, the director now owns 467,974 shares of the company’s stock, valued at $7,543,740.88. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In related news, SVP Scott Lish sold 9,570 shares of Alphatec stock in a transaction dated Tuesday, February 21st. The stock was sold at an average price of $14.02, for a total value of $134,171.40. Following the sale, the senior vice president now owns 465,534 shares of the company’s stock, valued at $6,526,786.68. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director James L. L. Tullis sold 30,000 shares of the business’s stock in a transaction that occurred on Wednesday, March 8th. The stock was sold at an average price of $16.12, for a total value of $483,600.00. Following the transaction, the director now directly owns 467,974 shares in the company, valued at approximately $7,543,740.88. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 491,997 shares of company stock valued at $967,265,213. 33.93% of the stock is owned by insiders.
Hedge Funds Weigh In On Alphatec
A number of institutional investors have recently bought and sold shares of ATEC. Millennium Management LLC increased its position in Alphatec by 103.9% during the fourth quarter. Millennium Management LLC now owns 2,767,887 shares of the medical technology company’s stock worth $34,183,000 after buying an additional 1,410,693 shares during the last quarter. Assenagon Asset Management S.A. increased its position in Alphatec by 287.7% during the first quarter. Assenagon Asset Management S.A. now owns 819,973 shares of the medical technology company’s stock worth $12,792,000 after buying an additional 608,495 shares during the last quarter. JPMorgan Chase & Co. increased its position in Alphatec by 30.5% during the fourth quarter. JPMorgan Chase & Co. now owns 2,071,701 shares of the medical technology company’s stock worth $25,586,000 after buying an additional 483,935 shares during the last quarter. Divisadero Street Capital Management LP acquired a new position in Alphatec during the fourth quarter worth approximately $5,558,000. Finally, Russell Investments Group Ltd. increased its position in Alphatec by 859.0% during the fourth quarter. Russell Investments Group Ltd. now owns 486,412 shares of the medical technology company’s stock worth $6,007,000 after buying an additional 435,693 shares during the last quarter. Institutional investors and hedge funds own 48.59% of the company’s stock.
Alphatec Company Profile
Alphatec Holdings, Inc engages in the design, development, and marketing of spinal fusion technology products and solutions for the treatment of spinal disorders. It offers intra-operative information and neuromonitoring technologies, access systems, interbody implants, fixation systems, and various biologics offerings.
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