Needham & Company LLC Reaffirms "Buy" Rating for Alphatec (NASDAQ:ATEC)

Alphatec (NASDAQ:ATEC - Get Free Report)'s stock had its "buy" rating reissued by equities researchers at Needham & Company LLC in a research report issued on Friday,Benzinga reports. They currently have a $16.00 price objective on the medical technology company's stock. Needham & Company LLC's price target points to a potential upside of 28.67% from the company's previous close.

Other equities research analysts have also issued reports about the company. HC Wainwright restated a "buy" rating and set a $20.00 price target on shares of Alphatec in a research report on Monday, April 14th. Barclays increased their price target on shares of Alphatec from $20.00 to $21.00 and gave the stock an "overweight" rating in a research note on Wednesday, January 22nd. Piper Sandler boosted their price objective on shares of Alphatec from $12.00 to $13.00 and gave the stock an "overweight" rating in a research note on Thursday, February 27th. Finally, StockNews.com raised shares of Alphatec from a "sell" rating to a "hold" rating in a research note 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. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $17.89.

Alphatec Trading Up 2.2 %

Shares of Alphatec stock traded up $0.27 during trading on Friday, reaching $12.44. 745,097 shares of the stock were exchanged, compared to its average volume of 2,075,403. 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 firm has a market cap of $1.82 billion, a price-to-earnings ratio of -9.69 and a beta of 1.06. Alphatec has a 1 year low of $4.88 and a 1 year high of $13.63. The stock's fifty day moving average is $10.48 and its 200 day moving average is $9.98.

Alphatec (NASDAQ:ATEC - Get Free Report) last posted its earnings results on Thursday, May 1st. The medical technology company reported ($0.35) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.12) by ($0.23). The business had revenue of $169.18 million for the quarter, compared to analysts' expectations of $167.57 million. Alphatec had a negative net margin of 31.06% and a negative return on equity of 541.39%. Alphatec's quarterly revenue was up 22.2% on a year-over-year basis. During the same period last year, the firm posted ($0.34) earnings per share. As a group, equities research analysts expect that Alphatec will post -1.08 earnings per share for the current fiscal year.

Insider Transactions at Alphatec

In other Alphatec news, CEO Patrick Miles sold 12,691 shares of the company's stock in a transaction that occurred on Friday, March 7th. The shares were sold at an average price of $10.64, for a total transaction of $135,032.24. Following the completion of the sale, the chief executive officer now directly owns 5,857,603 shares of the company's stock, valued at approximately $62,324,895.92. This represents a 0.22 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, COO Scott Lish sold 12,000 shares of Alphatec stock in a transaction on Monday, May 5th. The shares were sold at an average price of $12.12, for a total value of $145,440.00. Following the transaction, the chief operating officer now owns 826,251 shares in the company, valued at $10,014,162.12. This trade represents a 1.43 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 154,398 shares of company stock worth $1,731,787 over the last quarter. 22.80% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Alphatec

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Vanguard Group Inc. boosted its stake in shares of Alphatec by 0.8% in the fourth quarter. Vanguard Group Inc. now owns 5,968,980 shares of the medical technology company's stock worth $54,795,000 after acquiring an additional 47,797 shares during the period. American Century Companies Inc. raised its position in shares of Alphatec by 36.5% during the fourth quarter. American Century Companies Inc. now owns 4,989,057 shares of the medical technology company's stock valued at $45,800,000 after buying an additional 1,334,780 shares during the last quarter. Royal Bank of Canada lifted its stake in Alphatec by 171.2% in the 4th quarter. Royal Bank of Canada now owns 3,185,283 shares of the medical technology company's stock worth $29,240,000 after purchasing an additional 2,010,806 shares in the last quarter. Nuveen Asset Management LLC boosted its stake in Alphatec by 78.4% during the fourth quarter. Nuveen Asset Management LLC now owns 2,584,996 shares of the medical technology company's stock valued at $23,730,000 after buying an additional 1,136,330 shares during the last quarter. Finally, Geode Capital Management LLC raised its stake in Alphatec by 1.0% during the fourth quarter. Geode Capital Management LLC now owns 2,387,162 shares of the medical technology company's stock valued at $21,919,000 after purchasing an additional 24,283 shares in the last quarter. Institutional investors own 66.35% of the company's stock.

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.