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

Alphatec (NASDAQ:ATEC)‘s stock had its “buy” rating reissued by Needham & Company LLC in a research report issued to clients and investors on Thursday,Benzinga reports. They presently have a $16.00 target price on the medical technology company’s stock. Needham & Company LLC’s target price indicates a potential upside of 44.67% from the company’s current price.

Several other equities research analysts have also recently commented on ATEC. Barclays raised their target price on Alphatec from $20.00 to $21.00 and gave the stock an “overweight” rating in a research note on Wednesday, January 22nd. HC Wainwright reaffirmed a “buy” rating and set a $20.00 target price on shares of Alphatec in a research note on Tuesday, January 14th. One investment analyst has rated the stock with a hold rating and eight have given a buy rating to the company’s stock. Based on data from MarketBeat, Alphatec currently has an average rating of “Moderate Buy” and an average price target of $17.56.

Alphatec Price Performance

Alphatec stock opened at $11.06 on Thursday. The company has a current ratio of 2.32, a quick ratio of 1.15 and a debt-to-equity ratio of 30.21. The company has a market capitalization of $1.57 billion, a PE ratio of -8.64 and a beta of 1.43. Alphatec has a 12 month low of $4.88 and a 12 month high of $15.41. The stock has a 50-day moving average price of $10.57 and a two-hundred day moving average price of $8.35.

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

Insider Buying and Selling

In other Alphatec news, CEO Patrick Miles sold 50,000 shares of the firm’s stock in a transaction on Wednesday, January 29th. The stock was sold at an average price of $12.03, for a total value of $601,500.00. Following the completion of the sale, the chief executive officer now directly owns 6,152,544 shares of the company’s stock, valued at $74,015,104.32. This trade represents a 0.81 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, EVP David Sponsel sold 58,283 shares of Alphatec stock in a transaction on Monday, January 13th. The shares were sold at an average price of $10.71, for a total value of $624,210.93. Following the completion of the transaction, the executive vice president now owns 502,311 shares of the company’s stock, valued at approximately $5,379,750.81. This trade represents a 10.40 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 267,715 shares of company stock worth $3,048,819. 22.80% of the stock is owned by company insiders.

Institutional Investors Weigh In On Alphatec

Several hedge funds have recently added to or reduced their stakes in the company. PharVision Advisers LLC bought a new stake in Alphatec during the fourth quarter worth about $201,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in Alphatec by 11.4% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 224,643 shares of the medical technology company’s stock worth $2,062,000 after purchasing an additional 22,971 shares during the last quarter. Western Standard LLC bought a new stake in Alphatec during the fourth quarter worth about $6,668,000. Soviero Asset Management LP bought a new stake in shares of Alphatec in the 4th quarter valued at about $918,000. Finally, Wexford Capital LP bought a new stake in shares of Alphatec in the 4th quarter valued at about $95,000. 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.