Alphatec’s (ATEC) “Buy” Rating Reiterated at Needham & Company LLC

Alphatec (NASDAQ:ATEC)‘s stock had its “buy” rating restated by analysts at Needham & Company LLC in a research report issued on Wednesday, Benzinga reports. They currently have a $23.00 price target on the medical technology company’s stock. Needham & Company LLC’s price objective indicates a potential upside of 69.37% from the stock’s current price.

Several other research firms also recently commented on ATEC. Wells Fargo & Company initiated coverage on Alphatec in a research note on Friday, February 9th. They issued an “overweight” rating and a $26.00 price objective on the stock. HC Wainwright restated a “buy” rating and set a $20.00 target price on shares of Alphatec in a research note on Monday, March 4th. Finally, Canaccord Genuity Group reissued a “buy” rating and issued a $25.00 price objective on shares of Alphatec in a research note on Wednesday, March 20th. One research analyst has rated the stock with a sell rating and seven have assigned a buy rating to the company. Based on data from MarketBeat.com, Alphatec has an average rating of “Moderate Buy” and an average price target of $23.63.

Alphatec Trading Up 2.3 %

Alphatec stock opened at $13.58 on Wednesday. The business has a 50-day simple moving average of $13.32 and a two-hundred day simple moving average of $13.56. Alphatec has a 52-week low of $8.66 and a 52-week high of $19.14. The company has a quick ratio of 1.99, a current ratio of 2.86 and a debt-to-equity ratio of 6.54. The company has a market cap of $1.90 billion, a P/E ratio of -8.76 and a beta of 1.48.

Alphatec (NASDAQ:ATEC) last announced its 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 business had revenue of $138.48 million for the quarter, compared to analyst estimates of $134.07 million. The company’s revenue was up 26.9% compared to the same quarter last year. During the same period in the prior year, the company posted ($0.40) earnings per share. Analysts predict that Alphatec will post -1.1 EPS for the current year.

Insider Buying and Selling at Alphatec

In other Alphatec news, General Counsel Tyson Eliot Marshall sold 11,825 shares of the firm’s stock in a transaction that occurred on Friday, March 1st. The stock was sold at an average price of $13.30, for a total transaction of $157,272.50. Following the completion of the transaction, the general counsel now owns 305,095 shares in the company, valued at approximately $4,057,763.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other news, General Counsel Tyson Eliot Marshall sold 11,825 shares of the business’s stock in a transaction dated Friday, March 1st. The shares were sold at an average price of $13.30, for a total value of $157,272.50. Following the sale, the general counsel now directly owns 305,095 shares in the company, valued at approximately $4,057,763.50. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP David Sponsel sold 2,500 shares of the company’s stock in a transaction dated Wednesday, February 14th. The shares were sold at an average price of $16.16, for a total transaction of $40,400.00. Following the sale, the executive vice president now owns 637,418 shares in the company, valued at $10,300,674.88. The disclosure for this sale can be found here. Insiders sold 285,069 shares of company stock valued at $3,971,495 in the last 90 days. Insiders own 29.12% of the company’s stock.

Institutional Trading of Alphatec

Several hedge funds and other institutional investors have recently bought and sold shares of ATEC. RiverPark Advisors LLC purchased a new position in Alphatec during the third quarter worth $53,000. Provence Wealth Management Group purchased a new position in shares of Alphatec during the 3rd quarter worth about $56,000. Van ECK Associates Corp bought a new position in Alphatec during the 3rd quarter valued at about $113,000. Tidemark LLC purchased a new position in shares of Alphatec during the fourth quarter valued at approximately $137,000. Finally, Amalgamated Bank raised its holdings in shares of Alphatec by 7.3% in the fourth quarter. Amalgamated Bank now owns 9,720 shares of the medical technology company’s stock worth $147,000 after buying an additional 660 shares during the period. Hedge funds and other institutional investors 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.