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

Alphatec Holdings, Inc. (NASDAQ:ATEC) traded 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.

Other equities research analysts have also issued reports about the stock. Stifel Nicolaus decreased their price objective on shares of Alphatec from $19.00 to $16.00 and set a “buy” rating on the stock in a research report on Thursday, August 1st. Lake Street Capital cut their price objective on Alphatec from $32.00 to $18.00 and set a “buy” rating on the stock in a research report on Tuesday, September 3rd. Piper Sandler reduced their target price on Alphatec from $17.00 to $12.00 and set an “overweight” rating on the stock in a report on Thursday, August 1st. Morgan Stanley lowered shares of Alphatec from an “overweight” rating to an “equal weight” rating in a research note on Thursday, August 1st. Finally, Needham & Company LLC reiterated a “buy” rating and set a $13.00 price objective on shares of Alphatec in a research note on Thursday, October 31st. One investment analyst has rated the stock with a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $17.11.

Insider Buying and Selling

In other news, Director David M. Demski acquired 50,000 shares of the business’s stock in a transaction that occurred on Wednesday, August 21st. The stock was acquired at an average cost of $5.67 per share, for a total transaction of $283,500.00. Following the completion of the acquisition, the director now owns 288,441 shares in the company, valued at approximately $1,635,460.47. The trade was a 20.97 % increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 22.80% of the company’s stock.

Hedge Funds Weigh In On Alphatec

Several hedge funds have recently bought and sold shares of ATEC. Comerica Bank grew its position in Alphatec by 64.8% during the first quarter. Comerica Bank now owns 6,443 shares of the medical technology company’s stock worth $89,000 after buying an additional 2,534 shares in the last quarter. EntryPoint Capital LLC acquired a new position in Alphatec during the 1st quarter worth $141,000. Van ECK Associates Corp increased its position in Alphatec by 11.8% in the second quarter. Van ECK Associates Corp now owns 12,275 shares of the medical technology company’s stock worth $128,000 after purchasing an additional 1,300 shares during the period. XTX Topco Ltd acquired a new position in shares of Alphatec during the 3rd quarter worth about $69,000. Finally, Cetera Advisors LLC lifted its holdings in shares of Alphatec by 15.6% during the 1st quarter. Cetera Advisors LLC now owns 12,720 shares of the medical technology company’s stock valued at $175,000 after purchasing an additional 1,720 shares in the last quarter. 66.35% of the stock is owned by institutional investors and hedge funds.

Alphatec Price Performance

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 $1.31 billion, a P/E ratio of -7.30 and a beta of 1.31. The company has a 50 day simple moving average of $6.30 and a 200 day simple moving average of $8.33.

Alphatec Company Profile

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.