Alphatec (NASDAQ:ATEC) Earns Buy Rating from 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 Thursday,Benzinga reports. They presently have a $16.00 price target on the medical technology company’s stock. Needham & Company LLC’s price objective suggests a potential upside of 27.69% from the stock’s current price.

ATEC has been the topic of several other reports. HC Wainwright reaffirmed a “buy” rating and set a $20.00 target price on shares of Alphatec in a report on Tuesday, January 14th. Barclays lifted their target price on Alphatec from $20.00 to $21.00 and gave the stock an “overweight” rating in a report on Wednesday, January 22nd. Two research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to MarketBeat, Alphatec has a consensus rating of “Moderate Buy” and an average target price of $17.67.

Alphatec Trading Up 3.4 %

Shares of ATEC stock opened at $12.53 on Thursday. The firm has a market capitalization of $1.78 billion, a P/E ratio of -9.79 and a beta of 1.43. Alphatec has a twelve month low of $4.88 and a twelve month high of $14.88. The company has a quick ratio of 1.15, a current ratio of 2.32 and a debt-to-equity ratio of 30.21. The stock’s fifty day simple moving average is $10.63 and its 200 day simple moving average is $8.37.

Alphatec (NASDAQ:ATEC) last announced its earnings results on Wednesday, February 26th. The medical technology company reported ($0.23) EPS for the quarter, missing the consensus estimate of ($0.19) by ($0.04). The company had revenue of $176.79 million for the quarter, compared to analyst estimates of $172.74 million. Alphatec had a negative return on equity of 541.39% and a negative net margin of 31.06%. As a group, sell-side analysts predict that Alphatec will post -1.08 EPS for the current fiscal year.

Insider Activity

In related news, COO Scott Lish sold 27,453 shares of the company’s stock in a transaction that occurred on Thursday, February 6th. The stock was sold at an average price of $11.49, for a total transaction of $315,434.97. Following the transaction, the chief operating officer now directly owns 867,677 shares of the company’s stock, valued at approximately $9,969,608.73. This represents a 3.07 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Patrick Miles sold 6,687 shares of the company’s stock in a transaction that occurred on Tuesday, January 21st. The stock was sold at an average price of $12.00, for a total value of $80,244.00. Following the transaction, the chief executive officer now directly owns 5,501,715 shares in the company, valued at approximately $66,020,580. This trade represents a 0.12 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 290,898 shares of company stock valued at $3,327,710 in the last ninety days. 22.80% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. Comerica Bank raised its stake in Alphatec by 66.8% during the 4th quarter. Comerica Bank now owns 3,116 shares of the medical technology company’s stock worth $29,000 after buying an additional 1,248 shares during the period. R Squared Ltd acquired a new position in Alphatec during the 4th quarter worth approximately $29,000. Nisa Investment Advisors LLC raised its stake in Alphatec by 973.3% during the 4th quarter. Nisa Investment Advisors LLC now owns 4,669 shares of the medical technology company’s stock worth $43,000 after buying an additional 4,234 shares during the period. Quarry LP raised its stake in Alphatec by 79.2% during the 4th quarter. Quarry LP now owns 5,374 shares of the medical technology company’s stock worth $49,000 after buying an additional 2,375 shares during the period. Finally, Newton One Investments LLC acquired a new position in Alphatec during the 4th quarter worth approximately $50,000. 66.35% of the stock is owned by institutional investors and hedge funds.

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.