Alphatec (NASDAQ:ATEC) Stock Rating Reaffirmed by Needham & Company LLC

Alphatec (NASDAQ:ATEC)‘s stock had its “buy” rating reissued by research analysts at Needham & Company LLC in a report released on Wednesday, Benzinga reports. They presently have a $23.00 price objective on the medical technology company’s stock. Needham & Company LLC’s price target suggests a potential upside of 102.82% from the company’s current price.

ATEC has been the topic of a number of other reports. HC Wainwright reissued a “buy” rating and set a $20.00 target price on shares of Alphatec in a report on Monday, March 4th. Wells Fargo & Company initiated coverage on shares of Alphatec in a research note on Friday, February 9th. They issued an “overweight” rating and a $26.00 price objective on the stock. Finally, Canaccord Genuity Group reaffirmed a “buy” rating and set a $25.00 target price on shares of Alphatec in a research report on Wednesday, March 20th. One research analyst has rated the stock with a sell rating and eight have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $22.89.

Alphatec Price Performance

Shares of NASDAQ:ATEC opened at $11.34 on Wednesday. Alphatec has a one year low of $8.66 and a one year high of $19.14. The company has a debt-to-equity ratio of 6.54, a current ratio of 2.86 and a quick ratio of 1.99. The company has a market cap of $1.59 billion, a price-to-earnings ratio of -7.32 and a beta of 1.48. The firm has a 50 day simple moving average of $13.21 and a 200 day simple moving average of $13.53.

Alphatec (NASDAQ:ATEC) last announced its quarterly earnings results on Tuesday, May 7th. The medical technology company reported ($0.34) EPS for the quarter, missing analysts’ consensus estimates of ($0.33) by ($0.01). The firm had revenue of $138.48 million during the quarter, compared to the consensus estimate of $134.07 million. During the same period last year, the firm earned ($0.40) EPS. The business’s revenue was up 26.9% compared to the same quarter last year. Research analysts predict that Alphatec will post -1.1 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Alphatec news, CFO John Todd Koning sold 37,500 shares of the stock in a transaction dated Wednesday, April 24th. The stock was sold at an average price of $12.82, for a total transaction of $480,750.00. Following the completion of the sale, the chief financial officer now directly owns 393,356 shares in the company, valued at approximately $5,042,823.92. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other news, CFO John Todd Koning sold 37,500 shares of Alphatec stock in a transaction on Wednesday, April 24th. The shares were sold at an average price of $12.82, for a total value of $480,750.00. Following the completion of the sale, the chief financial officer now owns 393,356 shares in the company, valued at approximately $5,042,823.92. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, General Counsel Tyson Eliot Marshall sold 11,825 shares of the business’s stock in a transaction on Friday, March 1st. The shares were sold at an average price of $13.30, for a total transaction of $157,272.50. Following the transaction, the general counsel now owns 305,095 shares in the company, valued at approximately $4,057,763.50. The disclosure for this sale can be found here. Insiders sold 285,069 shares of company stock valued at $3,971,495 over the last quarter. Insiders own 29.12% of the company’s stock.

Hedge Funds Weigh In On Alphatec

Institutional investors have recently modified their holdings of the company. Zurcher Kantonalbank Zurich Cantonalbank raised its position in Alphatec by 23.8% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 12,120 shares of the medical technology company’s stock valued at $157,000 after buying an additional 2,331 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. boosted its holdings in Alphatec by 10.4% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 44,509 shares of the medical technology company’s stock worth $577,000 after purchasing an additional 4,210 shares during the last quarter. Allspring Global Investments Holdings LLC grew its position in Alphatec by 140.7% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 13,797 shares of the medical technology company’s stock worth $179,000 after purchasing an additional 8,065 shares in the last quarter. Principal Financial Group Inc. grew its position in Alphatec by 8.1% in the 3rd quarter. Principal Financial Group Inc. now owns 148,062 shares of the medical technology company’s stock worth $1,920,000 after purchasing an additional 11,037 shares in the last quarter. Finally, Victory Capital Management Inc. purchased a new stake in Alphatec in the 3rd quarter valued at about $609,000. 66.35% of the stock is owned by institutional investors and hedge funds.

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.