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

Needham & Company LLC restated their buy rating on shares of Alphatec (NASDAQ:ATEC) in a report released on Thursday,Benzinga reports. Needham & Company LLC currently has a $16.00 price target on the medical technology company’s stock.

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

Alphatec Price Performance

Shares of ATEC stock opened at $12.12 on Thursday. The firm has a market cap of $1.72 billion, a P/E ratio of -9.47 and a beta of 1.43. The company has a debt-to-equity ratio of 30.21, a current ratio of 2.32 and a quick ratio of 1.15. Alphatec has a 1-year low of $4.88 and a 1-year high of $15.01. The firm has a fifty day moving average of $10.57 and a two-hundred day moving average of $8.35.

Alphatec (NASDAQ:ATEC) last announced its quarterly earnings data on Wednesday, February 26th. The medical technology company reported ($0.23) earnings per share 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, research analysts anticipate that Alphatec will post -1.08 earnings per share for the current fiscal year.

Insider Activity at Alphatec

In related news, CEO Patrick Miles sold 6,687 shares of Alphatec stock in a transaction dated Tuesday, January 21st. The shares were sold at an average price of $12.00, for a total value of $80,244.00. Following the sale, the chief executive officer now directly owns 5,501,715 shares in the company, valued at $66,020,580. This trade represents a 0.12 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, COO Scott Lish sold 27,453 shares of the business’s stock in a transaction dated Thursday, February 6th. The stock was sold at an average price of $11.49, for a total transaction of $315,434.97. Following the sale, the chief operating officer now owns 867,677 shares in the company, valued at $9,969,608.73. This trade represents a 3.07 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 267,715 shares of company stock worth $3,048,819 in the last ninety days. 22.80% of the stock is owned by insiders.

Institutional Trading of Alphatec

Hedge funds and other institutional investors have recently made changes to their positions in the stock. R Squared Ltd bought a new stake in shares of Alphatec during the 4th quarter worth about $29,000. Comerica Bank raised its position 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 worth $29,000 after buying an additional 1,248 shares in the last quarter. Nisa Investment Advisors LLC grew 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 worth $43,000 after purchasing an additional 4,234 shares during the last quarter. Quarry LP grew its stake in shares of Alphatec by 79.2% in the 4th quarter. Quarry LP now owns 5,374 shares of the medical technology company’s stock worth $49,000 after purchasing an additional 2,375 shares during the last quarter. Finally, Newton One Investments LLC acquired a new position in shares of Alphatec in the 4th quarter worth approximately $50,000. 66.35% of the stock is currently owned by 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.