Alphatec (NASDAQ:ATEC) Price Target Raised to $21.00

Alphatec (NASDAQ:ATEC) had its price objective raised by Barclays from $20.00 to $21.00 in a research note released on Wednesday morning,Benzinga reports. Barclays currently has an overweight rating on the medical technology company’s stock.

A number of other analysts have also recently weighed in on the stock. Needham & Company LLC increased their price objective on shares of Alphatec from $13.00 to $16.00 and gave the stock a “buy” rating in a report on Monday, January 13th. HC Wainwright restated a “buy” rating and issued a $20.00 price target on shares of Alphatec in a research note on Tuesday, January 14th. One research analyst has rated the stock with a hold rating and eight have given a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $17.56.

Alphatec Price Performance

Shares of ATEC opened at $11.38 on Wednesday. The company has a debt-to-equity ratio of 30.21, a current ratio of 2.32 and a quick ratio of 1.15. The company has a market cap of $1.61 billion, a P/E ratio of -8.89 and a beta of 1.41. Alphatec has a 12 month low of $4.88 and a 12 month high of $17.34. The stock has a fifty day moving average price of $9.80 and a 200 day moving average price of $8.08.

Insiders Place Their Bets

In other news, EVP David Sponsel sold 58,283 shares of Alphatec stock in a transaction on Monday, January 13th. The stock was sold at an average price of $10.71, for a total transaction of $624,210.93. Following the transaction, the executive vice president now directly owns 502,311 shares in the company, valued at approximately $5,379,750.81. This trade represents a 10.40 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 22.80% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the company. Nisa Investment Advisors LLC lifted its holdings in Alphatec by 973.3% in the 4th quarter. Nisa Investment Advisors LLC now owns 4,669 shares of the medical technology company’s stock valued at $43,000 after acquiring an additional 4,234 shares during the last quarter. XTX Topco Ltd bought a new stake in shares of Alphatec in the 3rd quarter worth approximately $69,000. Ballentine Partners LLC acquired a new stake in Alphatec during the fourth quarter valued at approximately $120,000. Net Worth Advisory Group acquired a new position in Alphatec in the third quarter worth approximately $76,000. Finally, Mount Yale Investment Advisors LLC bought a new position in shares of Alphatec in the fourth quarter valued at $152,000. 66.35% of the stock is owned by institutional investors and hedge funds.

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.