Alphatec (NASDAQ:ATEC) PT Raised to $23.00 at Needham & Company LLC

Alphatec (NASDAQ:ATEC) had its target price increased by Needham & Company LLC from $22.00 to $23.00 in a research report issued on Thursday, Benzinga reports. The brokerage presently has a “buy” rating on the medical technology company’s stock. Needham & Company LLC’s price target would suggest a potential upside of 66.67% from the stock’s current price.

A number of other research firms have also recently weighed in on ATEC. Wells Fargo & Company began coverage on shares of Alphatec in a report on Friday, February 9th. They issued an “overweight” rating and a $26.00 price target on the stock. Canaccord Genuity Group reissued a “buy” rating and issued a $25.00 price target on shares of Alphatec in a report on Wednesday, March 20th. Finally, HC Wainwright restated a “buy” rating and set a $20.00 price target on shares of Alphatec in a research note on Monday, March 4th. One analyst has rated the stock with a sell rating and seven have issued a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $23.63.

Alphatec Stock Performance

ATEC stock opened at $13.80 on Thursday. The company has a quick ratio of 1.99, a current ratio of 2.86 and a debt-to-equity ratio of 6.54. The business’s fifty day simple moving average is $14.90 and its two-hundred day simple moving average is $13.40. Alphatec has a twelve month low of $8.66 and a twelve month high of $19.14. The firm has a market cap of $1.90 billion, a price-to-earnings ratio of -8.90 and a beta of 1.58.

Alphatec (NASDAQ:ATEC) last announced its quarterly earnings data on Tuesday, February 27th. The medical technology company reported ($0.37) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.28) by ($0.09). The company had revenue of $138.00 million during the quarter, compared to the consensus estimate of $131.90 million. During the same quarter in the prior year, the business posted ($0.33) earnings per share. The firm’s quarterly revenue was up 30.3% compared to the same quarter last year. Analysts predict that Alphatec will post -1.1 earnings per share for the current year.

Insider Buying and Selling at Alphatec

In related news, General Counsel Tyson Eliot Marshall sold 11,825 shares of the firm’s stock in a transaction dated Friday, March 1st. The stock was sold at an average price of $13.30, for a total transaction of $157,272.50. Following the sale, the general counsel now directly owns 305,095 shares of the company’s stock, valued at $4,057,763.50. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In related news, CFO John Todd Koning sold 121,601 shares of the business’s stock in a transaction on Friday, March 1st. The shares were sold at an average price of $13.30, for a total value of $1,617,293.30. Following the completion of the sale, the chief financial officer now owns 430,856 shares of the company’s stock, valued at approximately $5,730,384.80. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, General Counsel Tyson Eliot Marshall sold 11,825 shares of the stock in a transaction on Friday, March 1st. The shares were sold at an average price of $13.30, for a total transaction of $157,272.50. Following the transaction, the general counsel now directly owns 305,095 shares in the company, valued at $4,057,763.50. The disclosure for this sale can be found here. In the last quarter, insiders sold 250,069 shares of company stock worth $3,528,245. Insiders own 29.12% of the company’s stock.

Institutional Investors Weigh In On Alphatec

Several institutional investors have recently bought and sold shares of the company. Nomura Holdings Inc. acquired a new position in Alphatec in the 4th quarter valued at $225,000. Vanguard Group Inc. raised its holdings in Alphatec by 16.9% in the 4th quarter. Vanguard Group Inc. now owns 5,394,199 shares of the medical technology company’s stock valued at $81,506,000 after acquiring an additional 778,976 shares during the last quarter. Goldman Sachs Group Inc. raised its holdings in Alphatec by 93.9% in the 4th quarter. Goldman Sachs Group Inc. now owns 1,451,499 shares of the medical technology company’s stock valued at $21,932,000 after acquiring an additional 702,950 shares during the last quarter. American International Group Inc. boosted its holdings in shares of Alphatec by 14.4% during the 4th quarter. American International Group Inc. now owns 45,846 shares of the medical technology company’s stock worth $693,000 after purchasing an additional 5,784 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD increased its holdings in shares of Alphatec by 28.5% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 23,078 shares of the medical technology company’s stock valued at $349,000 after purchasing an additional 5,119 shares during the last quarter. 66.35% of the stock is currently owned by institutional investors and hedge funds.

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.