Needham & Company LLC Issues Positive Forecast for Alphatec (NASDAQ:ATEC) Stock Price

Alphatec (NASDAQ:ATEC) had its price target lifted by Needham & Company LLC from $13.00 to $16.00 in a research report sent to investors on Monday,Benzinga reports. They currently have a buy rating on the medical technology company’s stock.

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

Alphatec Stock Performance

Shares of ATEC opened at $10.88 on Monday. 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 P/E ratio of -8.50 and a beta of 1.41. The company has a 50-day moving average of $9.44 and a two-hundred day moving average of $7.99. Alphatec has a 12-month low of $4.88 and a 12-month high of $17.34.

Hedge Funds Weigh In On Alphatec

A number of large investors have recently bought and sold shares of the stock. Atria Investments Inc raised its stake in Alphatec by 8.0% during 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 third quarter. Entropy Technologies LP now owns 21,623 shares of the medical technology company’s stock worth $120,000 after purchasing an additional 2,800 shares during the period. Wrapmanager Inc. raised its stake 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 purchasing an additional 3,325 shares during the period. Rhumbline Advisers raised its stake in Alphatec by 2.6% during the second quarter. Rhumbline Advisers now owns 143,474 shares of the medical technology company’s stock worth $1,499,000 after purchasing an additional 3,676 shares during the period. Finally, The Manufacturers Life Insurance Company raised its stake in Alphatec by 8.9% during the second quarter. The Manufacturers Life Insurance Company now owns 58,257 shares of the medical technology company’s stock worth $609,000 after purchasing an additional 4,755 shares during the period. Hedge funds and other institutional investors 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.