Alphatec (NASDAQ:ATEC) Receives “Buy” Rating from Needham & Company LLC

Needham & Company LLC reiterated their buy rating on shares of Alphatec (NASDAQ:ATEC) in a research note released on Thursday morning, Benzinga reports. Needham & Company LLC currently has a $13.00 price objective on the medical technology company’s stock.

ATEC has been the subject of a number of other research reports. Morgan Stanley downgraded Alphatec from an “overweight” rating to an “equal weight” rating in a report on Thursday, August 1st. Piper Sandler decreased their price target on shares of Alphatec from $17.00 to $12.00 and set an “overweight” rating for the company in a research report on Thursday, August 1st. Wells Fargo & Company dropped their price target on shares of Alphatec from $26.00 to $19.00 and set an “overweight” rating for the company in a research note on Thursday, August 1st. Stifel Nicolaus reduced their price objective on shares of Alphatec from $19.00 to $16.00 and set a “buy” rating on the stock in a research note on Thursday, August 1st. Finally, HC Wainwright reissued a “buy” rating and set a $20.00 price objective on shares of Alphatec in a report on Thursday, August 1st. One investment analyst has rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $17.00.

Alphatec Stock Performance

Shares of ATEC stock opened at $8.11 on Thursday. The company’s fifty day moving average price is $5.82 and its two-hundred day moving average price is $8.62. The company has a debt-to-equity ratio of 30.21, a current ratio of 2.32 and a quick ratio of 1.21. The firm has a market capitalization of $1.15 billion, a P/E ratio of -6.34 and a beta of 1.31. Alphatec has a 12 month low of $4.88 and a 12 month high of $17.34.

Insider Activity

In other Alphatec news, Director David M. Demski bought 50,000 shares of the business’s stock in a transaction on Wednesday, August 21st. The shares were purchased at an average price of $5.67 per share, with a total value of $283,500.00. Following the completion of the acquisition, the director now directly owns 288,441 shares of the company’s stock, valued at approximately $1,635,460.47. The trade was a 0.00 % increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Company insiders own 22.80% of the company’s stock.

Institutional Investors Weigh In On Alphatec

Hedge funds have recently added to or reduced their stakes in the stock. Atria Investments Inc increased its holdings in shares of Alphatec by 8.0% in the 3rd quarter. Atria Investments Inc now owns 19,609 shares of the medical technology company’s stock worth $109,000 after acquiring an additional 1,460 shares during the period. AlphaCentric Advisors LLC acquired a new stake in shares of Alphatec in the third quarter valued at approximately $2,057,000. Fernwood Investment Management LLC increased its stake in shares of Alphatec by 28.6% in the third quarter. Fernwood Investment Management LLC now owns 91,287 shares of the medical technology company’s stock valued at $508,000 after purchasing an additional 20,300 shares during the period. Van ECK Associates Corp boosted its position in shares of Alphatec by 57.0% during the third quarter. Van ECK Associates Corp now owns 19,273 shares of the medical technology company’s stock worth $99,000 after buying an additional 6,998 shares during the period. Finally, Stephens Inc. AR grew its holdings in Alphatec by 51.4% in the 3rd quarter. Stephens Inc. AR now owns 21,743 shares of the medical technology company’s stock worth $121,000 after buying an additional 7,382 shares in the last quarter. 66.35% of the stock is currently owned by institutional investors.

Alphatec Company Profile

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.