Alphatec (NASDAQ:ATEC) Given New $21.00 Price Target at Barclays

Alphatec (NASDAQ:ATEC) had its target price lifted by Barclays from $20.00 to $21.00 in a research note released on Wednesday,Benzinga reports. They currently have an overweight rating on the medical technology company’s stock.

Several other brokerages also recently commented on ATEC. HC Wainwright reiterated a “buy” rating and set a $20.00 target price on shares of Alphatec in a report on Tuesday, January 14th. Needham & Company LLC lifted their price objective 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 analyst has rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $17.56.

Alphatec Price Performance

Alphatec stock opened at $11.38 on Wednesday. The company has a quick ratio of 1.15, a current ratio of 2.32 and a debt-to-equity ratio of 30.21. The firm has a market capitalization of $1.61 billion, a P/E ratio of -8.89 and a beta of 1.41. The firm has a fifty day moving average of $9.80 and a 200-day moving average of $8.08. Alphatec has a 52-week low of $4.88 and a 52-week high of $17.34.

Insider Transactions at Alphatec

In other Alphatec news, EVP David Sponsel sold 58,283 shares of the firm’s stock in a transaction 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 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 position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 22.80% of the company’s stock.

Hedge Funds Weigh In On Alphatec

Several large investors have recently modified their holdings of ATEC. Nisa Investment Advisors LLC increased its holdings in Alphatec by 973.3% in the fourth quarter. Nisa Investment Advisors LLC now owns 4,669 shares of the medical technology company’s stock valued at $43,000 after buying an additional 4,234 shares during the last quarter. XTX Topco Ltd bought a new stake in shares of Alphatec in the 3rd quarter valued at approximately $69,000. Ballentine Partners LLC acquired a new stake in shares of Alphatec during the 4th quarter valued at approximately $120,000. Net Worth Advisory Group bought a new position in Alphatec during the third quarter worth $76,000. Finally, Mount Yale Investment Advisors LLC bought a new stake in Alphatec during the fourth quarter valued at $152,000. 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.