Alphatec (NASDAQ:ATEC) Receives “Buy” Rating from Needham & Company LLC

Needham & Company LLC reiterated their buy rating on shares of Alphatec (NASDAQ:ATEC) in a research note issued to investors on Thursday, Benzinga reports. The brokerage currently has a $13.00 price target on the medical technology company’s stock.

A number of other equities analysts also recently commented on ATEC. Canaccord Genuity Group reaffirmed a “buy” rating and set a $20.00 target price on shares of Alphatec in a research note on Friday, August 30th. Stifel Nicolaus dropped their price objective on shares of Alphatec from $19.00 to $16.00 and set a “buy” rating for the company in a report on Thursday, August 1st. Barclays initiated coverage on shares of Alphatec in a report on Monday, July 8th. They issued an “overweight” rating and a $19.00 price objective for the company. Morgan Stanley cut shares of Alphatec from an “overweight” rating to an “equal weight” rating in a report on Thursday, August 1st. Finally, Lake Street Capital lowered their price target on shares of Alphatec from $32.00 to $18.00 and set a “buy” rating for the company in a report on Tuesday, September 3rd. One equities research analyst has rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $17.00.

Alphatec Price Performance

NASDAQ:ATEC traded up $0.16 during midday trading on Thursday, reaching $8.01. 756,064 shares of the stock traded hands, compared to its average volume of 1,931,255. Alphatec has a 12-month low of $4.88 and a 12-month high of $17.34. The business has a 50-day moving average of $5.73 and a two-hundred day moving average of $8.69. The company has a current ratio of 2.22, a quick ratio of 1.21 and a debt-to-equity ratio of 30.21.

Alphatec (NASDAQ:ATEC) last posted its quarterly earnings results on Wednesday, October 30th. The medical technology company reported ($0.28) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.27) by ($0.01). The company had revenue of $150.72 million during the quarter, compared to analysts’ expectations of $147.50 million. Alphatec had a negative return on equity of 401.88% and a negative net margin of 31.06%. Equities research analysts forecast that Alphatec will post -1.08 EPS for the current year.

Insider Transactions at Alphatec

In related news, Director David M. Demski acquired 50,000 shares of Alphatec stock in a transaction dated Wednesday, August 21st. The stock was acquired at an average price of $5.67 per share, for a total transaction of $283,500.00. Following the transaction, the director now owns 288,441 shares of the company’s stock, valued at $1,635,460.47. This represents a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 22.80% of the company’s stock.

Institutional Trading of Alphatec

Several institutional investors and hedge funds have recently bought and sold shares of ATEC. Comerica Bank increased its stake in Alphatec by 64.8% in the 1st quarter. Comerica Bank now owns 6,443 shares of the medical technology company’s stock valued at $89,000 after buying an additional 2,534 shares during the period. EntryPoint Capital LLC purchased a new position in Alphatec in the 1st quarter valued at about $141,000. Van ECK Associates Corp lifted its holdings in Alphatec by 11.8% in the 2nd quarter. Van ECK Associates Corp now owns 12,275 shares of the medical technology company’s stock valued at $128,000 after purchasing an additional 1,300 shares in the last quarter. Cetera Advisors LLC lifted its holdings in Alphatec by 15.6% in the 1st quarter. Cetera Advisors LLC now owns 12,720 shares of the medical technology company’s stock valued at $175,000 after purchasing an additional 1,720 shares in the last quarter. Finally, Net Worth Advisory Group purchased a new position in Alphatec in the 3rd quarter valued at about $76,000. Hedge funds and other 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.