Alphatec (NASDAQ:ATEC) Price Target Raised to $16.00

Alphatec (NASDAQ:ATEC) had its price target increased by Needham & Company LLC from $13.00 to $16.00 in a research report report published on Monday morning,Benzinga reports. Needham & Company LLC currently has a buy rating on the medical technology company’s stock.

Several other equities research analysts have also issued reports on ATEC. Barclays upped their price target on Alphatec from $19.00 to $20.00 and gave the company an “overweight” rating in a research report on Tuesday, November 19th. HC Wainwright reaffirmed a “buy” rating and issued a $20.00 price target on shares of Alphatec in a research note on Thursday, October 31st. One research analyst has rated the stock with a hold rating and eight have assigned a buy rating to the company. According to MarketBeat.com, Alphatec currently has a consensus rating of “Moderate Buy” and a consensus target price of $17.44.

Alphatec Stock Performance

Alphatec stock opened at $11.35 on Monday. The stock has a 50 day moving average of $9.59 and a 200-day moving average of $8.03. The stock has a market cap of $1.61 billion, a P/E ratio of -8.87 and a beta of 1.41. Alphatec has a 52 week low of $4.88 and a 52 week high of $17.34. The company has a current ratio of 2.32, a quick ratio of 1.15 and a debt-to-equity ratio of 30.21.

Insider Activity

In other Alphatec news, 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 transaction of $624,210.93. Following the completion of the sale, the executive vice president now owns 502,311 shares of the company’s stock, valued at $5,379,750.81. This trade represents a 10.40 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. 22.80% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the company. Point72 Asset Management L.P. lifted its stake in shares of Alphatec by 65.2% in the 2nd quarter. Point72 Asset Management L.P. now owns 3,192,789 shares of the medical technology company’s stock valued at $33,365,000 after purchasing an additional 1,260,137 shares during the last quarter. State Street Corp boosted its holdings in Alphatec by 10.1% during the third quarter. State Street Corp now owns 3,138,960 shares of the medical technology company’s stock valued at $17,453,000 after purchasing an additional 287,350 shares in the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. increased its position in shares of Alphatec by 11.3% during the 3rd quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 2,928,094 shares of the medical technology company’s stock worth $16,280,000 after purchasing an additional 297,850 shares in the last quarter. Fred Alger Management LLC boosted its holdings in shares of Alphatec by 0.8% in the 2nd quarter. Fred Alger Management LLC now owns 2,638,303 shares of the medical technology company’s stock worth $27,570,000 after acquiring an additional 21,078 shares in the last quarter. Finally, Royce & Associates LP increased its stake in shares of Alphatec by 15.9% in the third quarter. Royce & Associates LP now owns 1,212,286 shares of the medical technology company’s stock valued at $6,740,000 after buying an additional 165,954 shares in the last quarter. 66.35% of the stock is owned by institutional investors and hedge funds.

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.