Alphatec (NASDAQ:ATEC) Stock Price Expected to Rise, Barclays Analyst Says

Alphatec (NASDAQ:ATEC) had its target price raised by analysts at Barclays from $19.00 to $20.00 in a report issued on Tuesday,Benzinga reports. The brokerage currently has an “overweight” rating on the medical technology company’s stock. Barclays‘s price objective indicates a potential upside of 122.72% from the stock’s current price.

Several other research analysts also recently commented on ATEC. HC Wainwright reiterated a “buy” rating and set a $20.00 price target on shares of Alphatec in a report on Thursday, October 31st. Needham & Company LLC reaffirmed a “buy” rating and set a $13.00 price objective on shares of Alphatec in a research note on Thursday, October 31st. Piper Sandler dropped their target price 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. Stifel Nicolaus reduced their price target on Alphatec from $19.00 to $16.00 and set a “buy” rating on the stock in a report on Thursday, August 1st. Finally, Canaccord Genuity Group reiterated a “buy” rating and issued a $20.00 price objective on shares of Alphatec in a report on Friday, August 30th. One analyst has rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $17.11.

Alphatec Trading Up 5.4 %

Alphatec stock traded up $0.46 during trading hours on Tuesday, reaching $8.98. The company had a trading volume of 233,748 shares, compared to its average volume of 1,956,260. The company has a debt-to-equity ratio of 30.21, a current ratio of 2.32 and a quick ratio of 1.15. Alphatec has a 12-month low of $4.88 and a 12-month high of $17.34. The company has a 50-day moving average price of $6.30 and a 200 day moving average price of $8.33. The firm has a market cap of $1.27 billion, a price-to-earnings ratio of -7.02 and a beta of 1.31.

Insider Transactions at Alphatec

In other Alphatec news, Director David M. Demski acquired 50,000 shares of the stock in a transaction that occurred on Wednesday, August 21st. The shares were acquired at an average cost of $5.67 per share, with a total value of $283,500.00. Following the transaction, the director now owns 288,441 shares of the company’s stock, valued at $1,635,460.47. The trade was a 20.97 % increase in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Corporate insiders own 22.80% of the company’s stock.

Institutional Investors Weigh In On Alphatec

A number of hedge funds have recently added to or reduced their stakes in the stock. Magnetar Financial LLC bought a new stake in shares of Alphatec during the 2nd quarter valued at about $10,957,000. First Eagle Investment Management LLC bought a new position in Alphatec in the 2nd quarter worth approximately $1,071,000. Lighthouse Investment Partners LLC increased its holdings in shares of Alphatec by 257.5% in the second quarter. Lighthouse Investment Partners LLC now owns 208,594 shares of the medical technology company’s stock worth $2,180,000 after purchasing an additional 150,244 shares during the last quarter. AlphaCentric Advisors LLC purchased a new stake in shares of Alphatec during the 3rd quarter worth approximately $2,057,000. Finally, Granite Investment Partners LLC lifted its holdings in shares of Alphatec by 130.2% in the 2nd quarter. Granite Investment Partners LLC now owns 664,201 shares of the medical technology company’s stock valued at $6,941,000 after acquiring an additional 375,621 shares during the last quarter. 66.35% of the stock is currently owned by hedge funds and other institutional investors.

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.