Alphatec’s (ATEC) Buy Rating Reiterated at Needham & Company LLC

Alphatec (NASDAQ:ATEC)‘s stock had its “buy” rating reissued by equities researchers at Needham & Company LLC in a research report issued on Thursday, Benzinga reports. They currently have a $13.00 price objective on the medical technology company’s stock. Needham & Company LLC’s price objective indicates a potential upside of 131.32% from the stock’s previous close.

A number of other research firms have also commented on ATEC. Morgan Stanley lowered Alphatec from an “overweight” rating to an “equal weight” rating in a research report on Thursday, August 1st. Barclays started coverage on Alphatec in a research note on Monday, July 8th. They issued an “overweight” rating and a $19.00 price target for the company. Stifel Nicolaus decreased their price objective on shares of Alphatec from $19.00 to $16.00 and set a “buy” rating for the company in a report on Thursday, August 1st. HC Wainwright reaffirmed a “buy” rating and set a $20.00 target price on shares of Alphatec in a research note on Thursday, August 1st. Finally, Piper Sandler decreased their price target on shares of Alphatec from $17.00 to $12.00 and set an “overweight” rating for the company in a research note on Thursday, August 1st. One equities research analyst has rated the stock with a hold rating and eight have given a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $17.00.

Alphatec Stock Performance

NASDAQ:ATEC opened at $5.62 on Thursday. The company has a debt-to-equity ratio of 30.21, a quick ratio of 1.21 and a current ratio of 2.22. Alphatec has a fifty-two week low of $4.88 and a fifty-two week high of $17.34. The business has a 50 day moving average price of $5.73 and a 200-day moving average price of $8.71. The firm has a market cap of $789.39 million, a PE ratio of -4.16 and a beta of 1.39.

Alphatec (NASDAQ:ATEC) last announced its quarterly 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). Alphatec had a negative net margin of 33.48% and a negative return on equity of 816.57%. The firm had revenue of $150.72 million for the quarter, compared to analysts’ expectations of $147.50 million. Equities research analysts predict that Alphatec will post -1.08 earnings per share for the current year.

Insider Transactions at Alphatec

In related news, Director David M. Demski acquired 50,000 shares of the stock in a transaction 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 of the company’s stock, valued at $1,635,460.47. This represents a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 22.80% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the company. AlphaCentric Advisors LLC bought a new stake in shares of Alphatec during the third quarter valued at approximately $2,057,000. Fernwood Investment Management LLC boosted its stake 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 during the last quarter. Van ECK Associates Corp increased its holdings in shares of Alphatec by 57.0% in the 3rd quarter. Van ECK Associates Corp now owns 19,273 shares of the medical technology company’s stock worth $99,000 after purchasing an additional 6,998 shares in the last quarter. Stephens Inc. AR raised its stake in shares of Alphatec by 51.4% in the third quarter. Stephens Inc. AR now owns 21,743 shares of the medical technology company’s stock worth $121,000 after purchasing an additional 7,382 shares during the last quarter. Finally, Assenagon Asset Management S.A. lifted its holdings in shares of Alphatec by 30.1% during the third 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. 66.35% of the stock is owned by hedge funds and other institutional investors.

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.