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

Needham & Company LLC reissued their buy rating on shares of Alphatec (NASDAQ:ATEC) in a research note released on Thursday morning,Benzinga reports. The firm currently has a $16.00 price objective on the medical technology company’s stock.

Several other analysts have also commented on the stock. Barclays increased their price target on shares of Alphatec from $20.00 to $21.00 and gave the company an “overweight” rating in a research report on Wednesday, January 22nd. HC Wainwright reissued a “buy” rating and set a $20.00 price objective on shares of Alphatec in a research note on Tuesday, January 14th. One research analyst has rated the stock with a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat.com, Alphatec currently has an average rating of “Moderate Buy” and an average price target of $17.67.

Alphatec Stock Up 9.6 %

ATEC stock opened at $12.12 on Thursday. The company’s 50 day simple moving average is $10.57 and its 200-day simple moving average is $8.35. The firm has a market capitalization of $1.72 billion, a PE ratio of -9.47 and a beta of 1.43. Alphatec has a 12 month low of $4.88 and a 12 month high of $15.01. 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 (NASDAQ:ATEC) last released its quarterly earnings results on Wednesday, February 26th. The medical technology company reported ($0.23) EPS for the quarter, missing the consensus estimate of ($0.19) by ($0.04). The business had revenue of $176.79 million during the quarter, compared to analyst estimates of $172.74 million. Alphatec had a negative net margin of 31.06% and a negative return on equity of 541.39%. Equities analysts expect that Alphatec will post -1.08 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Alphatec news, EVP David Sponsel sold 36,256 shares of the stock in a transaction that occurred on Monday, February 3rd. The shares were sold at an average price of $11.42, for a total transaction of $414,043.52. Following the transaction, the executive vice president now owns 735,074 shares of the company’s stock, valued at $8,394,545.08. This trade represents a 4.70 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Patrick Miles sold 32,393 shares of the firm’s stock in a transaction on Wednesday, February 26th. The shares were sold at an average price of $10.89, for a total transaction of $352,759.77. Following the completion of the transaction, the chief executive officer now directly owns 5,940,391 shares in the company, valued at approximately $64,690,857.99. This represents a 0.54 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 267,715 shares of company stock valued at $3,048,819 over the last quarter. Company insiders own 22.80% of the company’s stock.

Hedge Funds Weigh In On Alphatec

A number of hedge funds have recently made changes to their positions in ATEC. Creative Planning raised its stake in shares of Alphatec by 83.9% in the 3rd quarter. Creative Planning now owns 48,611 shares of the medical technology company’s stock valued at $270,000 after acquiring an additional 22,171 shares during the period. Assenagon Asset Management S.A. grew its holdings in Alphatec by 30.1% during the 3rd quarter. Assenagon Asset Management S.A. now owns 40,486 shares of the medical technology company’s stock valued at $225,000 after purchasing an additional 9,361 shares in the last quarter. Stephens Inc. AR grew its holdings in Alphatec by 51.4% during the 3rd quarter. Stephens Inc. AR now owns 21,743 shares of the medical technology company’s stock valued at $121,000 after purchasing an additional 7,382 shares in the last quarter. Van ECK Associates Corp grew its holdings in Alphatec by 57.0% during the 3rd quarter. Van ECK Associates Corp now owns 19,273 shares of the medical technology company’s stock valued at $99,000 after purchasing an additional 6,998 shares in the last quarter. Finally, Fernwood Investment Management LLC grew its holdings in Alphatec by 28.6% during the 3rd quarter. Fernwood Investment Management LLC now owns 91,287 shares of the medical technology company’s stock valued at $508,000 after purchasing an additional 20,300 shares in the last quarter. Hedge funds and other institutional investors own 66.35% of the company’s stock.

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.