Needham & Company LLC Reaffirms Buy Rating for Alphatec (NASDAQ:ATEC)

Alphatec (NASDAQ:ATEC)‘s stock had its “buy” rating restated by stock analysts at Needham & Company LLC in a research report issued on Friday,Benzinga reports. They currently have a $16.00 price objective on the medical technology company’s stock. Needham & Company LLC’s price target would suggest a potential upside of 33.33% from the stock’s current price.

Other analysts have also recently issued research reports about the stock. Barclays boosted their price target on shares of Alphatec from $20.00 to $21.00 and gave the stock an “overweight” rating in a research note on Wednesday, January 22nd. Piper Sandler increased their price target on Alphatec from $12.00 to $13.00 and gave the company an “overweight” rating in a research note on Thursday, February 27th. HC Wainwright restated a “buy” rating and set a $20.00 price target on shares of Alphatec in a report on Monday, April 14th. Finally, StockNews.com raised Alphatec from a “sell” rating to a “hold” rating in a report on Friday, February 28th. Two analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $17.89.

Alphatec Stock Performance

NASDAQ ATEC opened at $12.00 on Friday. The company has a quick ratio of 1.15, a current ratio of 2.32 and a debt-to-equity ratio of 30.21. Alphatec has a twelve month low of $4.88 and a twelve month high of $13.79. The business has a 50-day moving average price of $10.46 and a 200-day moving average price of $9.89. The firm has a market cap of $1.75 billion, a price-to-earnings ratio of -9.38 and a beta of 1.20.

Alphatec (NASDAQ:ATEC) last posted its quarterly earnings results on Thursday, May 1st. The medical technology company reported ($0.35) earnings per share for the quarter, missing the consensus estimate of ($0.12) by ($0.23). The business had revenue of $169.18 million during the quarter, compared to the consensus estimate of $167.57 million. Alphatec had a negative return on equity of 541.39% and a negative net margin of 31.06%. The company’s revenue for the quarter was up 22.2% compared to the same quarter last year. During the same quarter in the previous year, the company earned ($0.34) earnings per share. As a group, equities research analysts predict that Alphatec will post -1.08 EPS for the current fiscal year.

Insider Transactions at Alphatec

In other Alphatec news, EVP David Sponsel sold 33,732 shares of the business’s stock in a transaction that occurred on Thursday, March 6th. The stock was sold at an average price of $10.83, for a total transaction of $365,317.56. Following the completion of the transaction, the executive vice president now owns 668,977 shares in the company, valued at $7,245,020.91. The trade was a 4.80 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Patrick Miles sold 12,691 shares of the stock in a transaction that occurred on Friday, March 7th. The stock was sold at an average price of $10.64, for a total value of $135,032.24. Following the completion of the sale, the chief executive officer now owns 5,857,603 shares in the company, valued at approximately $62,324,895.92. The trade was a 0.22 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 222,113 shares of company stock worth $2,519,725. 22.80% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Alphatec

Hedge funds have recently bought and sold shares of the business. Royal Bank of Canada boosted its stake in shares of Alphatec by 171.2% during the fourth quarter. Royal Bank of Canada now owns 3,185,283 shares of the medical technology company’s stock valued at $29,240,000 after purchasing an additional 2,010,806 shares during the period. American Century Companies Inc. lifted its holdings in Alphatec by 36.5% during the 4th quarter. American Century Companies Inc. now owns 4,989,057 shares of the medical technology company’s stock valued at $45,800,000 after buying an additional 1,334,780 shares in the last quarter. Nuveen Asset Management LLC boosted its position in Alphatec by 78.4% in the 4th quarter. Nuveen Asset Management LLC now owns 2,584,996 shares of the medical technology company’s stock valued at $23,730,000 after buying an additional 1,136,330 shares during the period. Marshall Wace LLP grew its stake in Alphatec by 139.2% in the 4th quarter. Marshall Wace LLP now owns 1,773,246 shares of the medical technology company’s stock worth $16,278,000 after acquiring an additional 1,032,070 shares in the last quarter. Finally, Emerald Advisers LLC raised its stake in shares of Alphatec by 112.4% during the fourth quarter. Emerald Advisers LLC now owns 1,456,033 shares of the medical technology company’s stock valued at $13,366,000 after acquiring an additional 770,586 shares in the last quarter. Institutional investors own 66.35% of the company’s stock.

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.