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

Alphatec Holdings, Inc. (NASDAQ:ATEC) gapped up before the market opened 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.

Several other research firms have also recently issued reports on ATEC. HC Wainwright reissued a “buy” rating and set a $20.00 target price on shares of Alphatec in a research note on Thursday, October 31st. Barclays raised their price objective on Alphatec from $19.00 to $20.00 and gave the stock an “overweight” rating in a research report on Tuesday, November 19th. One investment analyst has rated the stock with a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat, Alphatec has an average rating of “Moderate Buy” and an average price target of $17.44.

Hedge Funds Weigh In On Alphatec

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Magnetar Financial LLC acquired a new stake in shares of Alphatec during the second quarter worth about $10,957,000. First Eagle Investment Management LLC acquired a new stake in Alphatec during the 2nd quarter worth approximately $1,071,000. Lighthouse Investment Partners LLC boosted its position in Alphatec by 257.5% in the 2nd quarter. Lighthouse Investment Partners LLC now owns 208,594 shares of the medical technology company’s stock valued at $2,180,000 after buying an additional 150,244 shares during the period. BNP PARIBAS ASSET MANAGEMENT Holding S.A. grew its stake in shares of Alphatec by 11.3% in the third 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 acquiring an additional 297,850 shares in the last quarter. Finally, Barclays PLC increased its position in shares of Alphatec by 362.3% during the third quarter. Barclays PLC now owns 170,546 shares of the medical technology company’s stock worth $948,000 after acquiring an additional 133,653 shares during the period. 66.35% of the stock is currently owned by hedge funds and other institutional investors.

Alphatec Stock Performance

The firm has a market capitalization of $1.54 billion, a price-to-earnings ratio of -8.50 and a beta of 1.41. The firm has a 50 day moving average price of $9.44 and a 200-day moving average price of $7.99. The company has a debt-to-equity ratio of 30.21, a current ratio of 2.32 and a quick ratio of 1.15.

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.