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

Alphatec (NASDAQ:ATEC)‘s stock had its “buy” rating reaffirmed by investment analysts at Needham & Company LLC in a report released on Thursday,Benzinga reports. They currently have a $16.00 price target on the medical technology company’s stock. Needham & Company LLC’s price target indicates a potential upside of 44.67% from the company’s previous close.

A number of other research analysts also recently weighed in on ATEC. HC Wainwright reiterated a “buy” rating and set a $20.00 target price on shares of Alphatec in a report on Tuesday, January 14th. Barclays upped 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. One equities research analyst has rated the stock with a hold rating and eight have given a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $17.56.

Alphatec Stock Up 4.7 %

Shares of NASDAQ:ATEC opened at $11.06 on Thursday. Alphatec has a 1 year low of $4.88 and a 1 year high of $15.41. The company has a market cap of $1.57 billion, a PE ratio of -8.64 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. The stock’s 50-day moving average is $10.57 and its 200 day moving average is $8.35.

Alphatec (NASDAQ:ATEC) last announced its quarterly earnings results on Wednesday, February 26th. The medical technology company reported ($0.23) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.19) by ($0.04). Alphatec had a negative net margin of 31.06% and a negative return on equity of 541.39%. Sell-side analysts anticipate that Alphatec will post -1.08 EPS for the current year.

Insider Activity

In other news, CEO Patrick Miles sold 32,393 shares of the stock in a transaction on Wednesday, February 26th. The stock was sold at an average price of $10.89, for a total transaction of $352,759.77. Following the transaction, the chief executive officer now directly owns 5,940,391 shares of the company’s stock, valued at $64,690,857.99. This represents a 0.54 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, EVP David Sponsel sold 12,946 shares of the stock in a transaction on Monday, February 24th. The shares were sold at an average price of $10.73, for a total value of $138,910.58. Following the transaction, the executive vice president now directly owns 722,128 shares in the company, valued at $7,748,433.44. The trade was a 1.76 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 267,715 shares of company stock valued at $3,048,819 in the last ninety days. 22.80% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Alphatec

A number of institutional investors have recently bought and sold shares of the stock. Vanguard Group Inc. raised its holdings in Alphatec by 0.8% in the 4th quarter. Vanguard Group Inc. now owns 5,968,980 shares of the medical technology company’s stock worth $54,795,000 after purchasing an additional 47,797 shares during the period. American Century Companies Inc. raised its holdings in Alphatec by 36.5% in the 4th quarter. American Century Companies Inc. now owns 4,989,057 shares of the medical technology company’s stock worth $45,800,000 after purchasing an additional 1,334,780 shares during the period. Royal Bank of Canada raised its holdings 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 during the period. State Street Corp raised its holdings in Alphatec by 10.1% in the 3rd quarter. State Street Corp now owns 3,138,960 shares of the medical technology company’s stock worth $17,453,000 after purchasing an additional 287,350 shares during the period. Finally, BNP PARIBAS ASSET MANAGEMENT Holding S.A. raised its holdings in Alphatec by 11.3% in the 3rd quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 2,928,094 shares of the medical technology company’s stock worth $16,280,000 after purchasing an additional 297,850 shares during the period. 66.35% of the stock is 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.