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

Shares of Alphatec Holdings, Inc. (NASDAQ:ATEC) gapped up prior to trading 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.

A number of other equities research analysts have also recently issued reports on ATEC. HC Wainwright reiterated a “buy” rating and issued a $20.00 price objective on shares of Alphatec in a report on Thursday, October 31st. Barclays upped their price target on Alphatec from $19.00 to $20.00 and gave the stock an “overweight” rating in a research note on Tuesday, November 19th. One research analyst has rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $17.44.

Insider Buying and Selling at Alphatec

In related news, EVP David Sponsel sold 58,283 shares of the business’s stock in a transaction on Monday, January 13th. The shares were sold at an average price of $10.71, for a total transaction of $624,210.93. Following the transaction, the executive vice president now owns 502,311 shares of the company’s stock, valued at approximately $5,379,750.81. The trade was a 10.40 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Corporate insiders own 22.80% of the company’s stock.

Institutional Trading of Alphatec

A number of hedge funds have recently bought and sold shares of the stock. Courier Capital LLC lifted its position in shares of Alphatec by 76.9% in the 4th quarter. Courier Capital LLC now owns 69,000 shares of the medical technology company’s stock worth $633,000 after acquiring an additional 30,000 shares during the period. Franklin Resources Inc. lifted its position in Alphatec by 299.3% in the third quarter. Franklin Resources Inc. now owns 64,450 shares of the medical technology company’s stock worth $343,000 after purchasing an additional 48,308 shares during the period. Barclays PLC lifted its position in Alphatec by 362.3% in the third quarter. Barclays PLC now owns 170,546 shares of the medical technology company’s stock worth $948,000 after purchasing an additional 133,653 shares during the period. Invst LLC boosted its stake in Alphatec by 3.7% during the third quarter. Invst LLC now owns 158,549 shares of the medical technology company’s stock worth $882,000 after buying an additional 5,630 shares in the last quarter. Finally, Y Intercept Hong Kong Ltd bought a new stake in Alphatec in the 3rd quarter valued at $147,000. 66.35% of the stock is owned by institutional investors.

Alphatec Trading Up 2.2 %

The business’s 50 day moving average price is $9.49 and its 200-day moving average price is $8.00. 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 quick ratio of 1.15 and a current ratio of 2.32.

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.