Alphatec (NASDAQ:ATEC) Given Buy Rating at Needham & Company LLC

Alphatec (NASDAQ:ATEC)‘s stock had its “buy” rating reissued by Needham & Company LLC in a note issued to investors on Friday,Benzinga reports. They currently have a $16.00 target price on the medical technology company’s stock. Needham & Company LLC’s price target indicates a potential upside of 33.33% from the company’s previous close.

A number of other equities research analysts have also recently weighed in on ATEC. Piper Sandler upped their price objective on Alphatec from $12.00 to $13.00 and gave the stock an “overweight” rating in a research note on Thursday, February 27th. Barclays increased their price target on shares of Alphatec from $20.00 to $21.00 and gave the company an “overweight” rating in a research report on Wednesday, January 22nd. HC Wainwright reaffirmed a “buy” rating and issued a $20.00 price objective on shares of Alphatec in a research report on Monday, April 14th. Finally, StockNews.com raised shares of Alphatec from a “sell” rating to a “hold” rating in a research report on Friday, February 28th. Two research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $17.89.

Alphatec Trading Up 8.5 %

NASDAQ ATEC opened at $12.00 on Friday. The company’s 50-day simple moving average is $10.46 and its two-hundred day simple moving average is $9.89. Alphatec has a one year low of $4.88 and a one year high of $13.79. The company has a market capitalization of $1.75 billion, a price-to-earnings ratio of -9.38 and a beta of 1.20. The company has a debt-to-equity ratio of 30.21, a quick ratio of 1.15 and a current ratio of 2.32.

Alphatec (NASDAQ:ATEC) last issued its quarterly earnings data on Thursday, May 1st. The medical technology company reported ($0.35) EPS for the quarter, missing analysts’ consensus estimates 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 business’s quarterly revenue was up 22.2% on a year-over-year basis. During the same period last year, the firm earned ($0.34) EPS. Equities analysts forecast that Alphatec will post -1.08 EPS for the current fiscal year.

Insiders Place Their Bets

In other Alphatec news, CEO Patrick Miles sold 43,459 shares of the business’s stock in a transaction dated Wednesday, February 5th. The stock was sold at an average price of $11.95, for a total transaction of $519,335.05. Following the sale, the chief executive officer now owns 6,065,772 shares in the company, valued at approximately $72,485,975.40. The trade was a 0.71 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP David Sponsel sold 33,732 shares of the firm’s stock in a transaction dated Thursday, March 6th. The stock was sold at an average price of $10.83, for a total value of $365,317.56. Following the completion of the transaction, the executive vice president now owns 668,977 shares of the company’s stock, valued at approximately $7,245,020.91. The trade was a 4.80 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 222,113 shares of company stock valued at $2,519,725. Insiders own 22.80% of the company’s stock.

Hedge Funds Weigh In On Alphatec

A number of institutional investors have recently bought and sold shares of the business. GAMMA Investing LLC raised its position in Alphatec by 38,433.3% during the first quarter. GAMMA Investing LLC now owns 2,312 shares of the medical technology company’s stock valued at $228,000 after acquiring an additional 2,306 shares in the last quarter. Comerica Bank increased its holdings in shares of Alphatec by 66.8% during the 4th quarter. Comerica Bank now owns 3,116 shares of the medical technology company’s stock valued at $29,000 after purchasing an additional 1,248 shares in the last quarter. R Squared Ltd purchased a new position in shares of Alphatec during the 4th quarter valued at approximately $29,000. Nisa Investment Advisors LLC lifted its stake in shares of Alphatec by 973.3% in the 4th quarter. Nisa Investment Advisors LLC now owns 4,669 shares of the medical technology company’s stock valued at $43,000 after purchasing an additional 4,234 shares during the period. Finally, Larson Financial Group LLC purchased a new stake in Alphatec during the first quarter worth $54,000. 66.35% of the stock is owned by hedge funds and other institutional investors.

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.