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

Alphatec Holdings, Inc. (NASDAQ:ATEC) shot up 5.4% 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.

ATEC has been the topic of several other research reports. Lake Street Capital cut their price target on shares of Alphatec from $32.00 to $18.00 and set a “buy” rating on the stock in a report on Tuesday, September 3rd. HC Wainwright reiterated a “buy” rating and set a $20.00 price target on shares of Alphatec in a research report on Thursday, October 31st. Stifel Nicolaus lowered their price objective on shares of Alphatec from $19.00 to $16.00 and set a “buy” rating for the company in a report on Thursday, August 1st. Canaccord Genuity Group reiterated a “buy” rating and set a $20.00 target price on shares of Alphatec in a report on Friday, August 30th. Finally, Piper Sandler lowered their target price on Alphatec from $17.00 to $12.00 and set an “overweight” rating for the company in a research note on Thursday, August 1st. One investment analyst has rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Alphatec has a consensus rating of “Moderate Buy” and a consensus price target of $17.11.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in ATEC. Point72 Asset Management L.P. increased its holdings in shares of 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 valued at $33,365,000 after acquiring an additional 1,260,137 shares in the last quarter. Magnetar Financial LLC purchased a new stake in Alphatec during the 2nd quarter valued at about $10,957,000. BNP PARIBAS ASSET MANAGEMENT Holding S.A. increased 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 valued at $27,486,000 after purchasing an additional 505,202 shares in the last quarter. Polar Asset Management Partners Inc. raised its holdings 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 worth $3,454,000 after buying an additional 492,324 shares during the last quarter. Finally, Granite Investment Partners LLC lifted its stake in shares of Alphatec by 130.2% in 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 in the last quarter. Hedge funds and other institutional investors own 66.35% of the company’s stock.

Alphatec Trading Up 12.3 %

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 firm has a market capitalization of $1.36 billion, a PE ratio of -7.48 and a beta of 1.31. The firm has a 50 day simple moving average of $6.44 and a 200 day simple moving average of $8.27.

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.