Alphatec (NASDAQ:ATEC) Given Buy Rating at Needham & Company LLC

Alphatec (NASDAQ:ATEC)‘s stock had its “buy” rating restated by Needham & Company LLC in a report issued on Wednesday, Benzinga reports. They presently have a $23.00 target price on the medical technology company’s stock. Needham & Company LLC’s target price indicates a potential upside of 69.37% from the company’s previous close.

Other equities analysts have also issued research reports about the stock. Canaccord Genuity Group reissued a “buy” rating and issued a $25.00 price target on shares of Alphatec in a research report on Wednesday, March 20th. Wells Fargo & Company assumed coverage on shares of Alphatec in a report on Friday, February 9th. They issued an “overweight” rating and a $26.00 target price on the stock. Finally, HC Wainwright restated a “buy” rating and set a $20.00 price target on shares of Alphatec in a report on Monday, March 4th. One research analyst has rated the stock with a sell rating and seven have given a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $23.63.

Alphatec Stock Performance

Shares of NASDAQ ATEC opened at $13.58 on Wednesday. Alphatec has a one year low of $8.66 and a one year high of $19.14. The business’s 50-day moving average price is $13.32 and its two-hundred day moving average price is $13.56. The company has a debt-to-equity ratio of 6.54, a current ratio of 2.86 and a quick ratio of 1.99. The company has a market capitalization of $1.90 billion, a P/E ratio of -8.76 and a beta of 1.48.

Alphatec (NASDAQ:ATEC) last released its quarterly earnings data on Tuesday, May 7th. The medical technology company reported ($0.34) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.33) by ($0.01). The company had revenue of $138.48 million for the quarter, compared to analyst estimates of $134.07 million. The company’s revenue was up 26.9% compared to the same quarter last year. During the same period in the previous year, the firm posted ($0.40) earnings per share. Analysts anticipate that Alphatec will post -1.1 earnings per share for the current fiscal year.

Insider Buying and Selling at Alphatec

In other Alphatec news, EVP Craig E. Hunsaker sold 41,560 shares of the business’s stock in a transaction dated Monday, February 26th. The shares were sold at an average price of $15.05, for a total value of $625,478.00. Following the transaction, the executive vice president now directly owns 1,188,444 shares in the company, valued at $17,886,082.20. The transaction was disclosed in a document filed with the SEC, which is available through this link. In other Alphatec news, EVP Craig E. Hunsaker sold 41,560 shares of Alphatec stock in a transaction on Monday, February 26th. The stock was sold at an average price of $15.05, for a total value of $625,478.00. Following the completion of the transaction, the executive vice president now owns 1,188,444 shares in the company, valued at approximately $17,886,082.20. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, General Counsel Tyson Eliot Marshall sold 11,825 shares of the stock in a transaction on Friday, March 1st. The stock was sold at an average price of $13.30, for a total value of $157,272.50. Following the sale, the general counsel now owns 305,095 shares in the company, valued at approximately $4,057,763.50. The disclosure for this sale can be found here. Insiders have sold 285,069 shares of company stock worth $3,971,495 over the last three months. Company insiders own 29.12% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the company. RiverPark Advisors LLC bought a new stake in shares of Alphatec during the third quarter worth approximately $53,000. Provence Wealth Management Group acquired a new position in shares of Alphatec in the 3rd quarter valued at $56,000. Van ECK Associates Corp bought a new position in shares of Alphatec in the 3rd quarter worth $113,000. Tidemark LLC acquired a new stake in shares of Alphatec during the fourth quarter worth $137,000. Finally, Amalgamated Bank increased its holdings in Alphatec by 7.3% in the fourth quarter. Amalgamated Bank now owns 9,720 shares of the medical technology company’s stock valued at $147,000 after purchasing an additional 660 shares during the last quarter. 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.