Alphatec Shares Rise Following Analyst Upgrade

Alphatec Holdings, Inc. (NASDAQ:ATEC) saw its stock price increase significantly on Monday after Needham & Company LLC announced an upgrade, raising their price target from $13.00 to $16.00. The stock had closed the previous day at $9.97, but opened at $10.40 following this positive news. As of the last trading session, Alphatec shares were priced at $11.07, with a total trading volume of 544,525 shares.

In addition to Needham's upgrade, Alphatec has been discussed in several reports by other financial institutions. For instance, Barclays increased their price target from $19.00 to $20.00 and assigned an "overweight" rating to the stock in a report dated November 19th. Meanwhile, HC Wainwright reaffirmed a "buy" rating and set a $20.00 price target for the company on October 31st. Currently, one analyst rates the stock as a hold, while eight have given it a buy rating. As per MarketBeat.com, the overall rating for the stock is "Moderate Buy", with an average consensus price target of $17.44.

Institutional Investment Activity in Alphatec

Recent trading activity indicates that institutional investors and hedge funds have been actively buying and selling shares of Alphatec. Bank of New York Mellon Corp boosted its stake by 16.7% in the second quarter, now holding 374,742 shares valued at approximately $3,916,000 after purchasing an additional 53,541 shares recently. Similarly, Rhumbline Advisers increased its holding by 2.6% during the same period, now owning 143,474 shares valued at $1,499,000, after adding 3,676 shares. Furthermore, HBK Sorce Advisory LLC raised its stake by a remarkable 370.4%, acquiring an additional 50,000 shares to reach a total of 63,498 shares worth $664,000. Other firms like Wrapmanager Inc. and Envestnet Asset Management Inc. also increased their positions significantly. Collectively, 66.35% of Alphatec's stock is owned by institutional investors.

Alphatec Stock Performance and Metrics

Following the analyst upgrade, Alphatec's stock has increased by 10.9%. The company now has a market capitalization of $1.57 billion, with a P/E ratio of -8.64 and a beta of 1.41. Financial ratios indicate a quick ratio of 1.15, a current ratio of 2.32, and a debt-to-equity ratio of 30.21. Furthermore, the company's 50-day simple moving average stands at $9.44, while the 200-day moving average is $7.99.

About Alphatec Holdings

Alphatec Holdings, Inc. is a medical technology firm focused on the design, development, and advancement of solutions for the surgical treatment of spinal disorders both in the U.S. and internationally. The company manufactures and sells implants and instruments through third-party distributors. Its offerings include the Alpha InformatiX product platform, featuring the EOS imaging system for full-body imaging, the VEA alignment mobile app that quickly quantifies alignment parameters, the SafeOp Neural InformatiX System for monitoring, and the Valence system that integrates navigation and robotics into spine procedures.

Conclusion

Alphatec's stock performance following the analyst upgrade illustrates a positive market sentiment, supported by institutional investing and favorable analyst ratings. As the company continues to innovate in the medical technology sector, it remains a focus of interest for investors looking for growth opportunities.

Alphatec, Shares, Upgrade