Barclays Forecasts Strong Price Appreciation for Alphatec (NASDAQ:ATEC) Stock

Alphatec (NASDAQ:ATEC) had its target price boosted by stock analysts at Barclays from $19.00 to $20.00 in a research report issued on Tuesday,Benzinga reports. The firm currently has an “overweight” rating on the medical technology company’s stock. Barclays‘s price target would indicate a potential upside of 101.41% from the stock’s previous close.

A number of other equities analysts have also recently commented on the company. Stifel Nicolaus decreased their price target on Alphatec from $19.00 to $16.00 and set a “buy” rating on the stock in a research note on Thursday, August 1st. Canaccord Genuity Group reaffirmed a “buy” rating and issued a $20.00 price target on shares of Alphatec in a research note on Friday, August 30th. Piper Sandler decreased their price target on Alphatec from $17.00 to $12.00 and set an “overweight” rating on the stock in a research note on Thursday, August 1st. Wells Fargo & Company decreased their price target on Alphatec from $26.00 to $19.00 and set an “overweight” rating on the stock in a research note on Thursday, August 1st. Finally, HC Wainwright reissued a “buy” rating and set a $20.00 target price 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 company. According to MarketBeat.com, Alphatec has an average rating of “Moderate Buy” and a consensus price target of $17.11.

Alphatec Stock Performance

Shares of NASDAQ ATEC opened at $9.93 on Tuesday. The stock has a market cap of $1.41 billion, a price-to-earnings ratio of -7.76 and a beta of 1.31. 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’s 50-day moving average is $6.52 and its 200 day moving average is $8.28.

Institutional Investors Weigh In On Alphatec

A number of institutional investors have recently modified their holdings of the stock. Point72 Asset Management L.P. boosted its position 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 buying an additional 1,260,137 shares during the last quarter. Magnetar Financial LLC purchased a new stake in shares of Alphatec during the second quarter valued at $10,957,000. BNP PARIBAS ASSET MANAGEMENT Holding S.A. boosted its position in shares of Alphatec by 23.8% during the second 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 buying an additional 505,202 shares during the last quarter. Polar Asset Management Partners Inc. boosted its position in shares of Alphatec by 381.9% during 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 position 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 valued at $6,941,000 after buying an additional 375,621 shares during the last quarter. 66.35% of the stock is 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.