Alphatec (NASDAQ:ATEC) Shares Gap Up Following Analyst Upgrade

Alphatec Holdings, Inc. (NASDAQ:ATEC - Get Free Report)'s share price gapped up prior to trading on Monday after Needham & Company LLC raised their price target on the stock from $13.00 to $16.00. The stock had previously closed at $9.97, but opened at $10.40. Needham & Company LLC currently has a buy rating on the stock. Alphatec shares last traded at $11.07, with a volume of 544,525 shares trading hands.

Several other equities research analysts also recently weighed in on ATEC. HC Wainwright restated a "buy" rating and set a $20.00 price objective on shares of Alphatec in a research report on Thursday, October 31st. Barclays boosted their price target on Alphatec from $19.00 to $20.00 and gave the stock an "overweight" rating in a report on Tuesday, November 19th. One equities research analyst has rated the stock with a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $17.44.

Institutional Trading of Alphatec

Institutional investors have recently added to or reduced their stakes in the stock. Bank of New York Mellon Corp boosted its stake in shares of Alphatec by 16.7% in the 2nd quarter. Bank of New York Mellon Corp now owns 374,742 shares of the medical technology company's stock valued at $3,916,000 after purchasing an additional 53,541 shares during the last quarter. Rhumbline Advisers boosted its position in Alphatec by 2.6% during the second quarter. Rhumbline Advisers now owns 143,474 shares of the medical technology company's stock valued at $1,499,000 after acquiring an additional 3,676 shares during the last quarter. HBK Sorce Advisory LLC grew its holdings in Alphatec by 370.4% during the 2nd quarter. HBK Sorce Advisory LLC now owns 63,498 shares of the medical technology company's stock worth $664,000 after acquiring an additional 50,000 shares during the period. Wrapmanager Inc. raised its position in shares of Alphatec by 104.5% in the 2nd quarter. Wrapmanager Inc. now owns 35,074 shares of the medical technology company's stock worth $367,000 after acquiring an additional 17,920 shares in the last quarter. Finally, Envestnet Asset Management Inc. lifted its stake in shares of Alphatec by 5.8% in the 2nd quarter. Envestnet Asset Management Inc. now owns 404,866 shares of the medical technology company's stock valued at $4,231,000 after purchasing an additional 22,047 shares during the period. 66.35% of the stock is currently owned by institutional investors.

Alphatec Trading Up 9.1 %

The company has a market cap of $1.54 billion, a P/E ratio of -8.50 and a beta of 1.41. The firm has a 50-day moving average of $9.44 and a 200 day moving average of $7.99. The company has a current ratio of 2.32, a quick ratio of 1.15 and a debt-to-equity ratio of 30.21.

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.