Needham & Company LLC Forecasts Strong Price Appreciation for Alphatec (NASDAQ:ATEC) Stock

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

ATEC has been the subject of several other research reports. Barclays lifted 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 reaffirmed a “buy” rating and set a $20.00 price target on shares of Alphatec in a research report on Thursday, October 31st. One research analyst has rated the stock with a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $17.44.

Alphatec Stock Performance

ATEC stock traded up $1.37 on Monday, hitting $11.34. The company had a trading volume of 1,677,703 shares, compared to its average volume of 1,485,935. 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 has a 12-month low of $4.88 and a 12-month high of $17.34. The stock has a market cap of $1.61 billion, a price-to-earnings ratio of -8.86 and a beta of 1.41. The stock’s 50-day simple moving average is $9.44 and its 200 day simple moving average is $7.99.

Institutional Trading of Alphatec

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Franklin Resources Inc. boosted its holdings in Alphatec by 299.3% in the 3rd quarter. Franklin Resources Inc. now owns 64,450 shares of the medical technology company’s stock worth $343,000 after buying an additional 48,308 shares during the period. Barclays PLC boosted its stake in shares of 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 acquiring an additional 133,653 shares during the period. Invst LLC grew its position in shares of 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 purchasing an additional 5,630 shares in the last quarter. Y Intercept Hong Kong Ltd bought a new stake in Alphatec during the 3rd quarter valued at approximately $147,000. Finally, XTX Topco Ltd purchased a new position in Alphatec in the 3rd quarter worth approximately $69,000. 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.