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

Alphatec (NASDAQ:ATEC)‘s stock had its “buy” rating reissued by stock analysts at Needham & Company LLC in a report released on Thursday, Benzinga reports. They currently have a $13.00 price objective on the medical technology company’s stock. Needham & Company LLC’s target price would suggest a potential upside of 60.30% from the stock’s current price.

ATEC has been the subject of several other reports. Piper Sandler decreased their target price on shares of Alphatec from $17.00 to $12.00 and set an “overweight” rating for the company in a research report on Thursday, August 1st. Lake Street Capital lowered their target price on shares of Alphatec from $32.00 to $18.00 and set a “buy” rating on the stock in a research report on Tuesday, September 3rd. Canaccord Genuity Group reaffirmed a “buy” rating and issued a $20.00 price target on shares of Alphatec in a research report on Friday, August 30th. Wells Fargo & Company lowered their price objective on Alphatec from $26.00 to $19.00 and set an “overweight” rating on the stock in a report on Thursday, August 1st. Finally, HC Wainwright reissued a “buy” rating and issued a $20.00 price objective on shares of Alphatec in a research note on Thursday, August 1st. One investment analyst has rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $17.00.

Alphatec Stock Up 3.3 %

ATEC stock opened at $8.11 on Thursday. The company has a 50 day moving average of $5.77 and a two-hundred day moving average of $8.68. The company has a quick ratio of 1.21, a current ratio of 2.22 and a debt-to-equity ratio of 30.21. Alphatec has a 12-month low of $4.88 and a 12-month high of $17.34. The company has a market cap of $1.14 billion, a price-to-earnings ratio of -6.34 and a beta of 1.39.

Alphatec (NASDAQ:ATEC) last issued its earnings results on Wednesday, October 30th. The medical technology company reported ($0.28) earnings per share for the quarter, missing the consensus estimate of ($0.27) by ($0.01). The firm had revenue of $150.72 million during the quarter, compared to analyst estimates of $147.50 million. Alphatec had a negative return on equity of 401.88% and a negative net margin of 31.06%. On average, equities analysts anticipate that Alphatec will post -1.08 earnings per share for the current fiscal year.

Insider Buying and Selling at Alphatec

In related news, Director David M. Demski bought 50,000 shares of Alphatec stock in a transaction that occurred on 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 completion of the purchase, the director now owns 288,441 shares in the company, valued at approximately $1,635,460.47. This represents a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 22.80% of the company’s stock.

Hedge Funds Weigh In On Alphatec

Hedge funds have recently made changes to their positions in the business. Comerica Bank increased its stake in Alphatec by 64.8% in the first quarter. Comerica Bank now owns 6,443 shares of the medical technology company’s stock valued at $89,000 after acquiring an additional 2,534 shares during the period. EntryPoint Capital LLC bought a new stake in shares of Alphatec in the 1st quarter valued at approximately $141,000. Van ECK Associates Corp grew its stake in shares of 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 during the period. Cetera Advisors LLC raised its holdings in shares of Alphatec by 15.6% in the 1st quarter. Cetera Advisors LLC now owns 12,720 shares of the medical technology company’s stock worth $175,000 after buying an additional 1,720 shares in the last quarter. Finally, Net Worth Advisory Group bought a new position in shares of Alphatec during the 3rd quarter worth approximately $76,000. Institutional investors and hedge funds 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.