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

Alphatec (NASDAQ:ATEC) had its target price raised by stock analysts at Barclays from $20.00 to $21.00 in a research note issued to investors on Wednesday,Benzinga reports. The brokerage currently has an “overweight” rating on the medical technology company’s stock. Barclays‘s price objective would indicate a potential upside of 80.88% from the company’s previous close.

A number of other brokerages also recently commented on ATEC. Needham & Company LLC increased their price target on Alphatec from $13.00 to $16.00 and gave the company a “buy” rating in a research report on Monday, January 13th. HC Wainwright reaffirmed a “buy” rating and set a $20.00 target price on shares of Alphatec in a research report on Tuesday, January 14th. One investment analyst has rated the stock with a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat, Alphatec presently has an average rating of “Moderate Buy” and a consensus price target of $17.56.

Alphatec Stock Up 0.3 %

Alphatec stock opened at $11.61 on Wednesday. The company has a debt-to-equity ratio of 30.21, a quick ratio of 1.15 and a current ratio of 2.32. The stock has a market cap of $1.65 billion, a PE ratio of -9.07 and a beta of 1.41. Alphatec has a fifty-two week low of $4.88 and a fifty-two week high of $17.34. The firm’s 50-day simple moving average is $9.76 and its 200 day simple moving average is $8.05.

Insider Buying and Selling at Alphatec

In other news, EVP David Sponsel sold 58,283 shares of the firm’s stock in a transaction on Monday, January 13th. The stock was sold at an average price of $10.71, for a total value of $624,210.93. Following the completion of the transaction, the executive vice president now directly owns 502,311 shares of the company’s stock, valued at $5,379,750.81. This trade represents a 10.40 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 22.80% of the company’s stock.

Institutional Trading of Alphatec

A number of institutional investors have recently added to or reduced their stakes in the stock. Envestnet Asset Management Inc. increased its position in shares of Alphatec by 5.8% during the second quarter. Envestnet Asset Management Inc. now owns 404,866 shares of the medical technology company’s stock valued at $4,231,000 after buying an additional 22,047 shares during the period. Hsbc Holdings PLC raised its position in shares of Alphatec by 130.1% in the second quarter. Hsbc Holdings PLC now owns 33,403 shares of the medical technology company’s stock worth $347,000 after buying an additional 18,888 shares in the last quarter. Sei Investments Co. grew its position in Alphatec by 4.7% during the second quarter. Sei Investments Co. now owns 111,460 shares of the medical technology company’s stock worth $1,165,000 after buying an additional 4,976 shares in the last quarter. Marshall Wace LLP boosted its position in shares of Alphatec by 44.7% during the 2nd quarter. Marshall Wace LLP now owns 1,099,692 shares of the medical technology company’s stock valued at $11,492,000 after acquiring an additional 339,832 shares during the last quarter. Finally, Point72 Asset Management L.P. raised its stake in Alphatec by 65.2% in the second quarter. Point72 Asset Management L.P. now owns 3,192,789 shares of the medical technology company’s stock valued at $33,365,000 after purchasing an additional 1,260,137 shares in the last quarter. Hedge funds and other institutional investors own 66.35% of the company’s stock.

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.