Alphatec (NASDAQ:ATEC) Receives Buy Rating from HC Wainwright

Alphatec (NASDAQ:ATEC)‘s stock had its “buy” rating reaffirmed by analysts at HC Wainwright in a note issued to investors on Tuesday,Benzinga reports. They currently have a $20.00 price target on the medical technology company’s stock. HC Wainwright’s price objective would suggest a potential upside of 83.82% from the stock’s previous close.

Other analysts also recently issued reports about the company. Barclays increased their price objective on Alphatec from $19.00 to $20.00 and gave the company an “overweight” rating in a report on Tuesday, November 19th. Needham & Company LLC boosted their price objective on Alphatec from $13.00 to $16.00 and gave the company a “buy” rating in a research note on Monday. One investment analyst has rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat, Alphatec has a consensus rating of “Moderate Buy” and an average price target of $17.44.

Alphatec Stock Performance

NASDAQ:ATEC opened at $10.88 on Tuesday. The stock’s 50-day moving average is $9.49 and its 200-day moving average is $8.00. The company has a current ratio of 2.32, a quick ratio of 1.15 and a debt-to-equity ratio of 30.21. Alphatec has a 1-year low of $4.88 and a 1-year high of $17.34. The stock has a market cap of $1.54 billion, a P/E ratio of -8.50 and a beta of 1.41.

Institutional Trading of Alphatec

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in ATEC. Point72 Asset Management L.P. lifted its stake in Alphatec by 65.2% during the 2nd quarter. Point72 Asset Management L.P. now owns 3,192,789 shares of the medical technology company’s stock valued at $33,365,000 after acquiring an additional 1,260,137 shares in the last quarter. State Street Corp increased its stake in Alphatec by 10.1% in the 3rd quarter. State Street Corp now owns 3,138,960 shares of the medical technology company’s stock valued at $17,453,000 after buying an additional 287,350 shares during the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. lifted its position in shares of Alphatec by 11.3% during the 3rd quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 2,928,094 shares of the medical technology company’s stock worth $16,280,000 after buying an additional 297,850 shares in the last quarter. Fred Alger Management LLC grew its holdings in shares of Alphatec by 0.8% in the second quarter. Fred Alger Management LLC now owns 2,638,303 shares of the medical technology company’s stock valued at $27,570,000 after acquiring an additional 21,078 shares in the last quarter. Finally, Royce & Associates LP increased its position in shares of Alphatec by 15.9% during the third quarter. Royce & Associates LP now owns 1,212,286 shares of the medical technology company’s stock valued at $6,740,000 after acquiring an additional 165,954 shares during the last quarter. 66.35% of the stock is owned by institutional investors.

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.