Franklin Resources Inc. Acquires 48,308 Shares of Alphatec Holdings, Inc. (NASDAQ:ATEC)

Franklin Resources Inc. raised its holdings in shares of Alphatec Holdings, Inc. (NASDAQ:ATEC) by 299.3% in the 3rd quarter, HoldingsChannel.com reports. The fund owned 64,450 shares of the medical technology company’s stock after purchasing an additional 48,308 shares during the quarter. Franklin Resources Inc.’s holdings in Alphatec were worth $343,000 at the end of the most recent quarter.

A number of other large investors also recently made changes to their positions in the stock. Van ECK Associates Corp increased its holdings in Alphatec by 11.8% in the second quarter. Van ECK Associates Corp now owns 12,275 shares of the medical technology company’s stock valued at $128,000 after purchasing an additional 1,300 shares during the last quarter. Atria Investments Inc increased its stake in shares of Alphatec by 8.0% in the 3rd quarter. Atria Investments Inc now owns 19,609 shares of the medical technology company’s stock valued at $109,000 after acquiring an additional 1,460 shares during the last quarter. Entropy Technologies LP increased its stake in shares of Alphatec by 14.9% in the 3rd quarter. Entropy Technologies LP now owns 21,623 shares of the medical technology company’s stock valued at $120,000 after acquiring an additional 2,800 shares during the last quarter. Wrapmanager Inc. raised its position in shares of Alphatec by 9.5% in the 3rd quarter. Wrapmanager Inc. now owns 38,399 shares of the medical technology company’s stock valued at $213,000 after acquiring an additional 3,325 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in Alphatec by 15.5% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 27,243 shares of the medical technology company’s stock worth $285,000 after acquiring an additional 3,664 shares during the last quarter. Institutional investors and hedge funds own 66.35% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have commented on ATEC. Barclays upped their target price on shares of Alphatec from $19.00 to $20.00 and gave the company an “overweight” rating in a research note on Tuesday, November 19th. HC Wainwright reaffirmed a “buy” rating and set a $20.00 price objective on shares of Alphatec in a research note on Thursday, October 31st. Lake Street Capital decreased their target price on Alphatec from $32.00 to $18.00 and set a “buy” rating for the company in a research note on Tuesday, September 3rd. Finally, Needham & Company LLC restated a “buy” rating and issued a $13.00 price target on shares of Alphatec in a report on Thursday, October 31st. One research analyst has rated the stock with a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat.com, Alphatec currently has a consensus rating of “Moderate Buy” and an average target price of $17.11.

Alphatec Price Performance

ATEC stock opened at $9.18 on Wednesday. The stock has a market cap of $1.30 billion, a PE ratio of -7.17 and a beta of 1.38. The stock has a 50-day moving average price of $8.89 and a two-hundred day moving average price of $8.04. Alphatec Holdings, Inc. has a 1 year low of $4.88 and a 1 year high of $17.34. The company has a current ratio of 2.32, a quick ratio of 1.15 and a debt-to-equity ratio of 30.21.

Alphatec 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.