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

Alphatec Holdings, Inc. (NASDAQ:ATEC)’s stock price 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 also recently commented on ATEC. Barclays raised their price objective 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 target price on shares of Alphatec in a research report on Thursday, October 31st. One investment analyst has rated the stock with a hold rating and eight have assigned a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $17.44.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the stock. XTX Topco Ltd acquired a new position in shares of Alphatec in the 3rd quarter valued at $69,000. Net Worth Advisory Group purchased a new position in shares of Alphatec during the 3rd quarter valued at about $76,000. Van ECK Associates Corp lifted its holdings in shares of Alphatec by 57.0% in the 3rd quarter. Van ECK Associates Corp now owns 19,273 shares of the medical technology company’s stock valued at $99,000 after buying an additional 6,998 shares during the period. Tempus Wealth Planning LLC purchased a new stake in shares of Alphatec in the third quarter worth about $107,000. Finally, Atria Investments Inc grew its holdings in Alphatec by 8.0% during the third quarter. Atria Investments Inc now owns 19,609 shares of the medical technology company’s stock worth $109,000 after acquiring an additional 1,460 shares during the period. Hedge funds and other institutional investors own 66.35% of the company’s stock.

Alphatec Stock Performance

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

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.