Fintel reports that on May 5, 2023, HC Wainwright & Co. reiterated coverage of Alphatec Holdings (NASDAQ:ATEC) with a Buy recommendation.
Analyst Price Forecast Suggests 37.41% Upside
As of April 24, 2023, the average one-year price target for Alphatec Holdings is 20.14. The forecasts range from a low of 17.17 to a high of $24.15. The average price target represents an increase of 37.41% from its latest reported closing price of 14.66.
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The projected annual revenue for Alphatec Holdings is 420MM, an increase of 7.87%. The projected annual non-GAAP EPS is -1.02.
What is the Fund Sentiment?
There are 345 funds or institutions reporting positions in Alphatec Holdings. This is an increase of 26 owner(s) or 8.15% in the last quarter. Average portfolio weight of all funds dedicated to ATEC is 0.25%, an increase of 3.16%. Total shares owned by institutions increased in the last three months by 6.77% to 62,752K shares. 
The put/call ratio of ATEC is 0.22, indicating a bullish outlook.
What are Other Shareholders Doing?
First Light Asset Management holds 2,926K shares representing 2.57% ownership of the company. In it's prior filing, the firm reported owning 2,975K shares, representing a decrease of 1.66%. The firm increased its portfolio allocation in ATEC by 27.48% over the last quarter.
Millennium Management holds 2,768K shares representing 2.43% ownership of the company. In it's prior filing, the firm reported owning 1,357K shares, representing an increase of 50.97%. The firm increased its portfolio allocation in ATEC by 169.61% over the last quarter.
Next Century Growth Investors holds 2,320K shares representing 2.04% ownership of the company. In it's prior filing, the firm reported owning 1,917K shares, representing an increase of 17.40%. The firm increased its portfolio allocation in ATEC by 68.41% over the last quarter.
Jpmorgan Chase holds 2,072K shares representing 1.82% ownership of the company. In it's prior filing, the firm reported owning 1,588K shares, representing an increase of 23.36%. The firm increased its portfolio allocation in ATEC by 69.26% over the last quarter.
Janus Henderson Group holds 1,936K shares representing 1.70% ownership of the company. In it's prior filing, the firm reported owning 1,936K shares, representing a decrease of 0.00%. The firm increased its portfolio allocation in ATEC by 34.73% over the last quarter.
Alphatec Holdings Background Information
(This description is provided by the company.)
Alphatec Holdings, Inc. (ATEC), through its wholly-owned subsidiaries, Alphatec Spine, Inc. and SafeOp Surgical, Inc., is a medical device company dedicated to revolutionizing the approach to spine surgery through clinical distinction. ATEC's Organic Innovation Machine is focused on developing new approaches that integrate seamlessly with the SafeOp Neural InformatiX System to safely and reproducibly treat spine's various pathologies and achieve the goals of spine surgery. Alphatec's ultimate vision is to be the Standard Bearer in Spine.
This story originally appeared on Fintel.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
