Alphatec (NASDAQ:ATEC) Price Target Raised to $22.00

Alphatec (NASDAQ:ATEC) had its price objective increased by Needham & Company LLC from $16.00 to $22.00 in a research note published on Friday morning,Benzinga reports. Needham & Company LLC currently has a buy rating on the medical technology company’s stock.

ATEC has been the topic of a number of other research reports. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Alphatec in a report on Tuesday, October 14th. Stifel Nicolaus began coverage on Alphatec in a report on Tuesday, October 28th. They issued a “buy” rating and a $20.00 price objective on the stock. Canaccord Genuity Group reaffirmed a “buy” rating and issued a $20.00 price objective on shares of Alphatec in a report on Friday, August 1st. Wall Street Zen raised Alphatec from a “hold” rating to a “buy” rating in a report on Saturday, October 18th. Finally, JPMorgan Chase & Co. began coverage on Alphatec in a report on Friday, October 24th. They issued an “overweight” rating and a $19.00 price objective on the stock. Nine analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $22.00.

Alphatec Price Performance

Shares of ATEC opened at $18.99 on Friday. Alphatec has a twelve month low of $6.97 and a twelve month high of $20.15. The firm’s fifty day simple moving average is $15.28 and its 200-day simple moving average is $13.29. The firm has a market capitalization of $2.81 billion, a price-to-earnings ratio of -16.81 and a beta of 1.05. The company has a current ratio of 2.88, a quick ratio of 1.77 and a debt-to-equity ratio of 23.22.

Alphatec (NASDAQ:ATEC) last issued its quarterly earnings data on Thursday, October 30th. The medical technology company reported $0.03 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.06) by $0.09. The firm had revenue of $196.50 million for the quarter, compared to analysts’ expectations of $182.78 million. The business’s revenue for the quarter was up 30.4% compared to the same quarter last year. During the same period in the previous year, the business posted ($0.28) EPS. Alphatec has set its FY 2025 guidance at EPS. Equities analysts forecast that Alphatec will post -1.08 EPS for the current fiscal year.

Insider Activity at Alphatec

In other news, COO Scott Lish sold 6,323 shares of the stock in a transaction on Thursday, August 21st. The shares were sold at an average price of $16.01, for a total value of $101,231.23. Following the completion of the sale, the chief operating officer owned 658,707 shares of the company’s stock, valued at $10,545,899.07. This represents a 0.95% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Craig E. Hunsaker sold 100,000 shares of the stock in a transaction on Friday, October 31st. The stock was sold at an average price of $19.95, for a total transaction of $1,995,000.00. Following the completion of the sale, the executive vice president directly owned 1,289,142 shares of the company’s stock, valued at $25,718,382.90. The trade was a 7.20% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders sold 883,759 shares of company stock worth $14,040,498. 20.90% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Alphatec

A number of institutional investors have recently added to or reduced their stakes in ATEC. Osterweis Capital Management Inc. acquired a new position in Alphatec in the 2nd quarter worth $37,000. Larson Financial Group LLC acquired a new position in Alphatec during the 1st quarter worth $54,000. Nisa Investment Advisors LLC grew its holdings in Alphatec by 22.4% during the 2nd quarter. Nisa Investment Advisors LLC now owns 5,714 shares of the medical technology company’s stock worth $63,000 after acquiring an additional 1,045 shares in the last quarter. FORA Capital LLC acquired a new position in Alphatec during the 1st quarter worth $102,000. Finally, PKS Advisory Services LLC acquired a new position in Alphatec during the 1st quarter worth $111,000. Institutional investors and hedge funds own 66.35% of the company’s stock.

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.