Alphatec (NASDAQ:ATEC) Price Target Raised to $21.00

Alphatec (NASDAQ:ATEC) had its price target lifted by Barclays from $20.00 to $21.00 in a report issued on Wednesday,Benzinga reports. They currently have an overweight rating on the medical technology company’s stock.

A number of other analysts also recently commented on ATEC. HC Wainwright restated a “buy” rating and set a $20.00 price target on shares of Alphatec in a research report on Tuesday, January 14th. Needham & Company LLC boosted their target price on Alphatec from $13.00 to $16.00 and gave the stock a “buy” rating in a report on Monday, January 13th. One analyst has rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to MarketBeat, Alphatec has a consensus rating of “Moderate Buy” and a consensus price target of $17.56.

Alphatec Price Performance

Shares of NASDAQ ATEC opened at $11.01 on Wednesday. The stock has a market cap of $1.56 billion, a P/E ratio of -8.60 and a beta of 1.41. The firm’s 50-day simple moving average is $9.92 and its 200 day simple moving average is $8.10. Alphatec has a fifty-two week low of $4.88 and a fifty-two week high of $17.34. The company has a quick ratio of 1.15, a current ratio of 2.32 and a debt-to-equity ratio of 30.21.

Insiders Place Their Bets

In other Alphatec news, EVP David Sponsel sold 58,283 shares of the firm’s stock in a transaction dated Monday, January 13th. The shares were sold at an average price of $10.71, for a total value of $624,210.93. Following the completion of the transaction, the executive vice president now directly owns 502,311 shares in the company, valued at $5,379,750.81. This trade represents a 10.40 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CEO Patrick Miles sold 6,687 shares of Alphatec stock in a transaction that occurred on Tuesday, January 21st. The stock was sold at an average price of $12.00, for a total transaction of $80,244.00. Following the completion of the transaction, the chief executive officer now directly owns 5,501,715 shares in the company, valued at approximately $66,020,580. This trade represents a 0.12 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 65,208 shares of company stock worth $706,835. 22.80% of the stock is owned by insiders.

Hedge Funds Weigh In On Alphatec

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in ATEC. R Squared Ltd purchased a new stake in shares of Alphatec in the fourth quarter valued at $29,000. Mount Yale Investment Advisors LLC purchased a new stake in Alphatec in the 4th quarter worth about $152,000. Nisa Investment Advisors LLC lifted its stake in Alphatec by 973.3% in the 4th quarter. Nisa Investment Advisors LLC now owns 4,669 shares of the medical technology company’s stock worth $43,000 after acquiring an additional 4,234 shares in the last quarter. Ballentine Partners LLC acquired a new stake in Alphatec during the 4th quarter worth about $120,000. Finally, Courier Capital LLC grew its stake in Alphatec by 76.9% during the 4th quarter. Courier Capital LLC now owns 69,000 shares of the medical technology company’s stock valued at $633,000 after acquiring an additional 30,000 shares in the last quarter. Institutional investors and hedge funds own 66.35% of the company’s stock.

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.