Needham & Company LLC Cuts Alphatec (NASDAQ:ATEC) Price Target to $14.00

Alphatec (NASDAQ:ATEC) had its target price decreased by Needham & Company LLC from $25.00 to $14.00 in a report issued on Wednesday morning, MarketBeat.com reports. Needham & Company LLC currently has a buy rating on the medical technology company’s stock.

Other equities research analysts also recently issued research reports about the company. Lake Street Capital restated a “buy” rating on shares of Alphatec in a research report on Wednesday, February 25th. Wells Fargo & Company raised Alphatec to a “strong-buy” rating in a research note on Wednesday, March 18th. Wall Street Zen raised Alphatec from a “hold” rating to a “buy” rating in a research note on Saturday, January 31st. Barclays lifted their price objective on Alphatec from $23.00 to $27.00 and gave the stock an “overweight” rating in a research note on Wednesday, January 7th. Finally, Stifel Nicolaus decreased their target price on Alphatec from $24.00 to $20.00 and set a “buy” rating for the company in a research note on Monday, March 9th. Ten equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $18.58.

Alphatec Trading Down 3.0%

ATEC stock opened at $7.52 on Wednesday. The company has a market cap of $1.16 billion, a P/E ratio of -9.17 and a beta of 0.96. Alphatec has a twelve month low of $6.85 and a twelve month high of $23.29. The company has a quick ratio of 1.28, a current ratio of 1.90 and a debt-to-equity ratio of 40.35. The business has a fifty day moving average of $11.48 and a 200-day moving average of $15.85.

Alphatec (NASDAQ:ATEC) last released its earnings results on Tuesday, May 5th. The medical technology company reported ($0.22) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.01) by ($0.21). The firm had revenue of $192.11 million for the quarter, compared to the consensus estimate of $197.51 million. Alphatec had a negative return on equity of 1,183.84% and a negative net margin of 15.93%.The company’s revenue was up 13.6% compared to the same quarter last year. During the same quarter in the previous year, the firm earned ($0.35) EPS. As a group, equities research analysts expect that Alphatec will post -0.28 EPS for the current year.

Insider Transactions at Alphatec

In related news, COO Scott Lish sold 260,535 shares of the stock in a transaction that occurred on Friday, March 13th. The stock was sold at an average price of $12.30, for a total transaction of $3,204,580.50. Following the sale, the chief operating officer owned 815,704 shares of the company’s stock, valued at $10,033,159.20. This represents a 24.21% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, General Counsel Tyson Eliot Marshall sold 88,835 shares of the stock in a transaction that occurred on Thursday, March 5th. The stock was sold at an average price of $12.49, for a total value of $1,109,549.15. Following the sale, the general counsel directly owned 559,459 shares in the company, valued at $6,987,642.91. This represents a 13.70% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 629,189 shares of company stock worth $7,801,589 over the last three months. Company insiders own 20.90% of the company’s stock.

Institutional Trading of Alphatec

A number of large investors have recently bought and sold shares of the business. Vanguard Group Inc. grew its holdings in Alphatec by 1.0% during the 4th quarter. Vanguard Group Inc. now owns 6,883,626 shares of the medical technology company’s stock worth $144,831,000 after acquiring an additional 68,568 shares during the period. American Century Companies Inc. boosted its stake in Alphatec by 2.6% during the 3rd quarter. American Century Companies Inc. now owns 6,336,491 shares of the medical technology company’s stock valued at $92,133,000 after purchasing an additional 159,330 shares during the last quarter. Morgan Stanley lifted its position in shares of Alphatec by 22.0% during the 4th quarter. Morgan Stanley now owns 4,340,936 shares of the medical technology company’s stock worth $91,333,000 after buying an additional 784,191 shares in the last quarter. State Street Corp lifted its position in shares of Alphatec by 6.4% during the 4th quarter. State Street Corp now owns 2,889,240 shares of the medical technology company’s stock worth $60,790,000 after buying an additional 174,287 shares in the last quarter. Finally, Geode Capital Management LLC increased its position in Alphatec by 1.2% in the fourth quarter. Geode Capital Management LLC now owns 2,828,026 shares of the medical technology company’s stock worth $59,511,000 after buying an additional 32,465 shares during the last quarter. 66.35% of the stock is currently owned by institutional investors and hedge funds.

More Alphatec News

Here are the key news stories impacting Alphatec this week:

• Positive Sentiment: Analysts at J.P. Morgan, HC Wainwright, and Wells Fargo still maintained bullish stances on Alphatec, with price targets ranging from $14 to $24, suggesting they see recovery potential even after cutting estimates. Alphatec Holdings, Inc. (NASDAQ:ATEC) Just Reported, And Analysts Assigned A US$18.00 Price Target
• Positive Sentiment: Becker’s Spine reported that Alphatec saw 21% case volume growth in Q1, which could support future revenue growth if sustained. Alphatec sees 21% case volume growth in Q1
• Neutral Sentiment: Several analysts lowered price targets, including JPMorgan to $16, Needham to $14, and Wells Fargo to $14, reflecting reduced expectations but still implying upside from the recent share price. Alphatec (NASDAQ:ATEC) Price Target Lowered to $16.00 at JPMorgan Chase & Co.
• Neutral Sentiment: J.P. Morgan also initiated/maintained a Buy rating, adding to the mixed-but-still-positive analyst backdrop. Alphatec Holdings (ATEC) Receives a Buy from J.P. Morgan
• Negative Sentiment: Lisanti Capital reportedly dumped a $5.4 million Alphatec stake, a sign that at least one investor is losing confidence in the company’s outlook. Lisanti Capital Dumps $5.4 Million Alphatec Stake as Medical Device Maker Struggles
• Negative Sentiment: Ademi LLP launched a securities-fraud investigation into Alphatec, citing possible inaccurate statements about financials, operations, and prospects, which could add legal overhang and pressure the stock. Shareholder Alert: Ademi LLP Investigates Claims of Securities Fraud against Alphatec Holdings, Inc.

About Alphatec

Alphatec Holdings, Inc (NASDAQ: ATEC) is a medical technology company focused on the design, development and commercialization of products for the surgical correction of degenerative spinal conditions. The company’s portfolio centers on interbody implants, biologics, fixation devices and surgical planning tools intended to improve patient outcomes in spinal fusion procedures. Alphatec’s flagship offerings include customizable interbody cages, bone graft materials and specialized instrumentation designed for minimally invasive and open spinal surgeries.

Founded as Alphatec Spine in 1985 and rebranded as Alphatec Holdings in 2018, the company has grown from a single-product organization into a multi-platform innovator in the spine market.