Alphatec (NASDAQ:ATEC) Stock Price Expected to Rise, Barclays Analyst Says

Alphatec (NASDAQ:ATEC - Free Report) had its price target upped by Barclays from $20.00 to $21.00 in a report published on Wednesday,Benzinga reports. The brokerage currently has an overweight rating on the medical technology company's stock.

Other equities analysts also recently issued research reports about the company. HC Wainwright reissued a "buy" rating and set a $20.00 target price on shares of Alphatec in a research report on Tuesday, January 14th. Needham & Company LLC increased their target price on shares of Alphatec from $13.00 to $16.00 and gave the company a "buy" rating in a research note on Monday, January 13th. One equities research analyst has rated the stock with a hold rating and eight have issued a buy rating to the company's stock. According to MarketBeat.com, Alphatec currently has an average rating of "Moderate Buy" and an average target price of $17.56.

Alphatec Price Performance

Shares of NASDAQ ATEC traded down $0.23 during mid-day trading on Wednesday, hitting $11.38. 1,596,757 shares of the company's stock traded hands, compared to its average volume of 1,880,074. The company has a debt-to-equity ratio of 30.21, a current ratio of 2.32 and a quick ratio of 1.15. Alphatec has a 1 year low of $4.88 and a 1 year high of $17.34. The company's 50-day moving average is $9.76 and its two-hundred day moving average is $8.05. The company has a market capitalization of $1.61 billion, a P/E ratio of -8.89 and a beta of 1.41.

Insider Buying and Selling

In related news, EVP David Sponsel sold 58,283 shares of the business's stock in a transaction that occurred 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 completion of the transaction, the executive vice president now owns 502,311 shares in the company, valued at $5,379,750.81. The trade was a 10.40 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 22.80% of the stock is currently owned by company insiders.

Institutional Trading of Alphatec

A number of institutional investors have recently made changes to their positions in the business. Envestnet Asset Management Inc. boosted its holdings in Alphatec by 5.8% in the second quarter. Envestnet Asset Management Inc. now owns 404,866 shares of the medical technology company's stock worth $4,231,000 after acquiring an additional 22,047 shares in the last quarter. Hsbc Holdings PLC boosted its stake in Alphatec by 130.1% in the 2nd quarter. Hsbc Holdings PLC now owns 33,403 shares of the medical technology company's stock worth $347,000 after purchasing an additional 18,888 shares in the last quarter. Sei Investments Co. grew its position in Alphatec by 4.7% during the 2nd quarter. Sei Investments Co. now owns 111,460 shares of the medical technology company's stock worth $1,165,000 after purchasing an additional 4,976 shares during the last quarter. Marshall Wace LLP increased its stake in 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 purchasing an additional 339,832 shares in the last quarter. Finally, Point72 Asset Management L.P. increased its stake in Alphatec by 65.2% during the 2nd 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. Institutional investors and hedge funds 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.