Alphatec (NASDAQ:ATEC) Trading Up 5.4% After Analyst Upgrade

Alphatec Holdings, Inc. (NASDAQ:ATEC)’s share price shot up 5.4% during trading on Tuesday after Barclays raised their price target on the stock from $19.00 to $20.00. Barclays currently has an overweight rating on the stock. Alphatec traded as high as $8.99 and last traded at $8.98. 233,748 shares traded hands during mid-day trading, a decline of 88% from the average session volume of 1,956,260 shares. The stock had previously closed at $8.52.

A number of other equities research analysts have also weighed in on ATEC. Piper Sandler decreased their price objective on shares of Alphatec from $17.00 to $12.00 and set an “overweight” rating for the company in a report on Thursday, August 1st. Canaccord Genuity Group reaffirmed a “buy” rating and set a $20.00 target price on shares of Alphatec in a research report on Friday, August 30th. HC Wainwright reissued a “buy” rating and set a $20.00 target price on shares of Alphatec in a research report on Thursday, October 31st. Wells Fargo & Company reduced their price objective on Alphatec from $26.00 to $19.00 and set an “overweight” rating for the company in a research note on Thursday, August 1st. Finally, Lake Street Capital reduced their price target on Alphatec from $32.00 to $18.00 and set a “buy” rating for the company in a research report on Tuesday, September 3rd. One research analyst has rated the stock with a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $17.11.

Institutional Trading of Alphatec

Several large investors have recently bought and sold shares of ATEC. Point72 Asset Management L.P. increased its stake in Alphatec by 65.2% during the second quarter. Point72 Asset Management L.P. now owns 3,192,789 shares of the medical technology company’s stock worth $33,365,000 after acquiring an additional 1,260,137 shares during the last quarter. Magnetar Financial LLC purchased a new position in Alphatec in the second quarter valued at approximately $10,957,000. BNP PARIBAS ASSET MANAGEMENT Holding S.A. raised its stake in Alphatec by 23.8% during the 2nd quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 2,630,244 shares of the medical technology company’s stock worth $27,486,000 after acquiring an additional 505,202 shares in the last quarter. Polar Asset Management Partners Inc. lifted its stake in Alphatec by 381.9% in the third quarter. Polar Asset Management Partners Inc. now owns 621,224 shares of the medical technology company’s stock valued at $3,454,000 after buying an additional 492,324 shares during the last quarter. Finally, Granite Investment Partners LLC boosted its stake in shares of Alphatec by 130.2% during the second quarter. Granite Investment Partners LLC now owns 664,201 shares of the medical technology company’s stock worth $6,941,000 after buying an additional 375,621 shares during the period. Hedge funds and other institutional investors own 66.35% of the company’s stock.

Alphatec Trading Up 3.8 %

The business’s 50-day moving average is $6.52 and its two-hundred day moving average is $8.28. The stock has a market capitalization of $1.41 billion, a PE ratio of -7.76 and a beta of 1.31. The company has a debt-to-equity ratio of 30.21, a quick ratio of 1.15 and a current ratio of 2.32.

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.