Needham & Company LLC Boosts Alphatec (NASDAQ:ATEC) Price Target to $16.00

Alphatec (NASDAQ:ATEC) had its price target hoisted by analysts at Needham & Company LLC from $13.00 to $16.00 in a research note issued on Monday,Benzinga reports. The firm currently has a “buy” rating on the medical technology company’s stock. Needham & Company LLC’s target price points to a potential upside of 41.09% from the stock’s previous close.

A number of other research analysts also recently commented on the company. HC Wainwright reiterated a “buy” rating and set a $20.00 target price on shares of Alphatec in a research report on Thursday, October 31st. Barclays increased their price objective on shares of Alphatec from $19.00 to $20.00 and gave the company an “overweight” rating in a research report on Tuesday, November 19th. One investment analyst has rated the stock with a hold rating and eight have given a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $17.44.

Alphatec Price Performance

Shares of NASDAQ:ATEC traded up $1.37 during mid-day trading on Monday, reaching $11.34. The stock had a trading volume of 1,677,703 shares, compared to its average volume of 1,485,935. The business’s 50 day moving average price is $9.44 and its 200 day moving average price is $7.99. Alphatec has a 1 year low of $4.88 and a 1 year high of $17.34. The company has a market cap of $1.61 billion, a P/E ratio of -8.86 and a beta of 1.41. The company has a current ratio of 2.32, a quick ratio of 1.15 and a debt-to-equity ratio of 30.21.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of the business. Atria Investments Inc lifted its stake in shares of Alphatec by 8.0% during the 3rd 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 last quarter. Entropy Technologies LP lifted its position in shares of Alphatec by 14.9% during the third quarter. Entropy Technologies LP now owns 21,623 shares of the medical technology company’s stock worth $120,000 after purchasing an additional 2,800 shares during the last quarter. Wrapmanager Inc. boosted its stake in shares of Alphatec by 9.5% during the third quarter. Wrapmanager Inc. now owns 38,399 shares of the medical technology company’s stock valued at $213,000 after purchasing an additional 3,325 shares during the period. Rhumbline Advisers grew its holdings in shares of Alphatec by 2.6% in the second quarter. Rhumbline Advisers now owns 143,474 shares of the medical technology company’s stock worth $1,499,000 after purchasing an additional 3,676 shares during the last quarter. Finally, The Manufacturers Life Insurance Company increased its stake in Alphatec by 8.9% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 58,257 shares of the medical technology company’s stock worth $609,000 after buying an additional 4,755 shares during the period. Hedge funds and other institutional investors 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.