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

Alphatec (NASDAQ:ATEC)‘s stock had its “buy” rating reissued by equities researchers at Needham & Company LLC in a report issued on Thursday, Benzinga reports. They currently have a $23.00 price target on the medical technology company’s stock. Needham & Company LLC’s price objective suggests a potential upside of 127.72% from the company’s previous close.

Other research analysts have also issued reports about the stock. Piper Sandler decreased their price target on shares of Alphatec from $19.00 to $17.00 and set an “overweight” rating on the stock in a research note on Wednesday, May 8th. Canaccord Genuity Group reissued a “buy” rating and issued a $25.00 price objective on shares of Alphatec in a research note on Thursday, July 25th. Stifel Nicolaus lowered their target price on shares of Alphatec from $24.00 to $19.00 and set a “buy” rating on the stock in a research note on Thursday, July 11th. Barclays assumed coverage on shares of Alphatec in a research report on Monday, July 8th. They issued an “overweight” rating and a $19.00 target price for the company. Finally, Morgan Stanley decreased their target price on shares of Alphatec from $19.00 to $16.00 and set an “overweight” rating on the stock in a research note on Monday, July 15th. One equities research analyst has rated the stock with a sell rating and nine have assigned a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $20.78.

Alphatec Stock Up 2.2 %

ATEC opened at $10.10 on Thursday. The company has a fifty day moving average of $10.46 and a two-hundred day moving average of $12.73. The stock has a market capitalization of $1.41 billion, a price-to-earnings ratio of -6.78 and a beta of 1.40. Alphatec has a fifty-two week low of $8.66 and a fifty-two week high of $18.32. The company has a debt-to-equity ratio of 13.63, a quick ratio of 1.49 and a current ratio of 2.39.

Alphatec (NASDAQ:ATEC) last released its quarterly earnings results on Tuesday, May 7th. The medical technology company reported ($0.34) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.33) by ($0.01). The company had revenue of $138.48 million during the quarter, compared to analyst estimates of $134.07 million. Alphatec had a negative net margin of 37.45% and a negative return on equity of 1,767.81%. Alphatec’s revenue was up 26.9% compared to the same quarter last year. During the same period in the prior year, the business posted ($0.40) EPS. On average, research analysts expect that Alphatec will post -1.04 earnings per share for the current year.

Insider Buying and Selling at Alphatec

In related news, General Counsel Tyson Eliot Marshall sold 50,232 shares of the stock in a transaction that occurred on Wednesday, June 12th. The shares were sold at an average price of $10.88, for a total transaction of $546,524.16. Following the completion of the transaction, the general counsel now owns 245,638 shares of the company’s stock, valued at approximately $2,672,541.44. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 22.80% of the company’s stock.

Institutional Investors Weigh In On Alphatec

Large investors have recently added to or reduced their stakes in the business. First Light Asset Management LLC grew its stake in Alphatec by 97.0% during the 4th quarter. First Light Asset Management LLC now owns 5,976,851 shares of the medical technology company’s stock worth $90,310,000 after purchasing an additional 2,943,310 shares in the last quarter. Cerity Partners LLC acquired a new stake in Alphatec in the fourth quarter valued at approximately $28,451,000. Artisan Partners Limited Partnership purchased a new position in Alphatec in the fourth quarter worth approximately $19,050,000. Goldman Sachs Group Inc. grew its holdings in Alphatec by 93.9% during the 4th quarter. Goldman Sachs Group Inc. now owns 1,451,499 shares of the medical technology company’s stock worth $21,932,000 after acquiring an additional 702,950 shares in the last quarter. Finally, BNP PARIBAS ASSET MANAGEMENT Holding S.A. increased its position in shares of Alphatec by 48.1% in the 1st quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 2,125,042 shares of the medical technology company’s stock valued at $29,305,000 after purchasing an additional 690,022 shares during the last quarter. 66.35% of the stock is owned by hedge funds and other institutional investors.

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.