Alphatec (NASDAQ:ATEC) Stock Price Expected to Rise, Needham & Company LLC Analyst Says

Alphatec (NASDAQ:ATEC) had its price target lifted by equities researchers at Needham & Company LLC from $13.00 to $16.00 in a research report issued to clients and investors on Monday,Benzinga reports. The brokerage presently has a “buy” rating on the medical technology company’s stock. Needham & Company LLC’s price target indicates a potential upside of 43.88% from the company’s previous close.

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

Alphatec Stock Up 2.2 %

Shares of NASDAQ:ATEC opened at $11.12 on Monday. The company has a market cap of $1.58 billion, a price-to-earnings ratio of -8.69 and a beta of 1.41. The company has a debt-to-equity ratio of 30.21, a current ratio of 2.32 and a quick ratio of 1.15. The firm has a fifty day moving average price of $9.54 and a two-hundred day moving average price of $8.00. Alphatec has a one year low of $4.88 and a one year high of $17.34.

Insiders Place Their Bets

In related news, EVP David Sponsel sold 58,283 shares of the firm’s stock in a transaction dated Monday, January 13th. The stock was sold at an average price of $10.71, for a total transaction of $624,210.93. Following 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 ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders own 22.80% of the company’s stock.

Hedge Funds Weigh In On Alphatec

Several hedge funds and other institutional investors have recently modified their holdings of ATEC. Rhumbline Advisers raised its position in Alphatec by 2.6% during the second quarter. Rhumbline Advisers now owns 143,474 shares of the medical technology company’s stock valued at $1,499,000 after acquiring an additional 3,676 shares in the last quarter. Envestnet Asset Management Inc. increased its position in shares of Alphatec by 5.8% during the second quarter. Envestnet Asset Management Inc. now owns 404,866 shares of the medical technology company’s stock worth $4,231,000 after purchasing an additional 22,047 shares in the last quarter. Hsbc Holdings PLC boosted its position in Alphatec by 130.1% during the second quarter. Hsbc Holdings PLC now owns 33,403 shares of the medical technology company’s stock worth $347,000 after acquiring an additional 18,888 shares during the last quarter. First Eagle Investment Management LLC acquired a new position in shares of Alphatec during the 2nd quarter worth approximately $1,071,000. Finally, Granite Investment Partners LLC increased its stake in shares of Alphatec by 130.2% in the 2nd quarter. Granite Investment Partners LLC now owns 664,201 shares of the medical technology company’s stock worth $6,941,000 after acquiring an additional 375,621 shares during the last quarter. 66.35% of the stock is owned by hedge funds and other institutional investors.

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.