Alphatec (NASDAQ:ATEC) Shares Gap Up on Analyst Upgrade

Alphatec Holdings, Inc. (NASDAQ:ATEC)’s stock price gapped up prior to trading on Monday after Needham & Company LLC raised their price target on the stock from $13.00 to $16.00. The stock had previously closed at $9.97, but opened at $10.40. Needham & Company LLC currently has a buy rating on the stock. Alphatec shares last traded at $11.07, with a volume of 544,525 shares traded.

ATEC has been the topic of several other reports. Barclays boosted their target price on Alphatec from $19.00 to $20.00 and gave the stock an “overweight” rating in a report on Tuesday, November 19th. HC Wainwright reissued a “buy” rating and set a $20.00 price objective on shares of Alphatec in a research report 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’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $17.44.

Institutional Investors Weigh In On Alphatec

Institutional investors and hedge funds have recently bought and sold shares of the business. Bank of New York Mellon Corp lifted its stake in Alphatec by 16.7% in the 2nd quarter. Bank of New York Mellon Corp now owns 374,742 shares of the medical technology company’s stock worth $3,916,000 after purchasing an additional 53,541 shares in the last quarter. Rhumbline Advisers lifted its position in shares of Alphatec by 2.6% in the second quarter. Rhumbline Advisers now owns 143,474 shares of the medical technology company’s stock worth $1,499,000 after buying an additional 3,676 shares in the last quarter. HBK Sorce Advisory LLC increased its stake in Alphatec by 370.4% in the 2nd quarter. HBK Sorce Advisory LLC now owns 63,498 shares of the medical technology company’s stock worth $664,000 after acquiring an additional 50,000 shares during the last quarter. Wrapmanager Inc. raised its stake in Alphatec by 104.5% during the second quarter. Wrapmanager Inc. now owns 35,074 shares of the medical technology company’s stock valued at $367,000 after purchasing an additional 17,920 shares in the last quarter. Finally, Envestnet Asset Management Inc. raised its position in shares of Alphatec by 5.8% during the 2nd quarter. Envestnet Asset Management Inc. now owns 404,866 shares of the medical technology company’s stock valued at $4,231,000 after buying an additional 22,047 shares in the last quarter. 66.35% of the stock is owned by institutional investors.

Alphatec Stock Up 10.9 %

The company has a market capitalization of $1.57 billion, a P/E ratio of -8.64 and a beta of 1.41. The company has a quick ratio of 1.15, a current ratio of 2.32 and a debt-to-equity ratio of 30.21. The company has a 50 day simple moving average of $9.44 and a two-hundred day simple moving average of $7.99.

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.