Alphatec (NASDAQ:ATEC) Stock Price Expected to Rise, Needham & Company LLC Analyst Says

Alphatec (NASDAQ:ATEC - Get Free Report) had its price objective upped by stock 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 presently has a "buy" rating on the medical technology company's stock. Needham & Company LLC's price target would suggest a potential upside of 47.06% from the stock's current price.

ATEC has been the subject of a number of other reports. HC Wainwright reaffirmed a "buy" rating and issued a $20.00 price target on shares of Alphatec in a report on Thursday, October 31st. Barclays increased their price target on shares of Alphatec from $19.00 to $20.00 and gave the company an "overweight" rating in a research note on Tuesday, November 19th. One investment analyst has rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat, Alphatec presently has a consensus rating of "Moderate Buy" and an average target price of $17.44.

Alphatec Price Performance

ATEC stock traded up $0.91 during trading on Monday, hitting $10.88. 5,131,630 shares of the stock traded hands, compared to its average volume of 2,014,311. Alphatec has a one year low of $4.88 and a one year high of $17.34. The company has a 50 day simple moving average of $9.44 and a 200 day simple 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. The stock has a market cap of $1.54 billion, a price-to-earnings ratio of -8.50 and a beta of 1.41.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the company. Atria Investments Inc raised its holdings in Alphatec by 8.0% in the third quarter. Atria Investments Inc now owns 19,609 shares of the medical technology company's stock worth $109,000 after purchasing an additional 1,460 shares during the period. Entropy Technologies LP raised its stake in Alphatec by 14.9% during the 3rd quarter. Entropy Technologies LP now owns 21,623 shares of the medical technology company's stock worth $120,000 after buying an additional 2,800 shares during the period. Wrapmanager Inc. lifted its holdings in Alphatec by 9.5% during the third quarter. Wrapmanager Inc. now owns 38,399 shares of the medical technology company's stock worth $213,000 after acquiring an additional 3,325 shares in the last quarter. Rhumbline Advisers grew its stake in Alphatec by 2.6% in 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 period. Finally, The Manufacturers Life Insurance Company increased its holdings in shares of Alphatec by 8.9% in the second quarter. The Manufacturers Life Insurance Company now owns 58,257 shares of the medical technology company's stock worth $609,000 after acquiring an additional 4,755 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.