Alphatec (NASDAQ:ATEC) Stock Price Up 3.3% – Here’s What Happened

Alphatec Holdings, Inc. (NASDAQ:ATEC) shot up 3.3% on Wednesday . The stock traded as high as $9.80 and last traded at $9.66. 564,365 shares changed hands during trading, a decline of 42% from the average session volume of 967,765 shares. The stock had previously closed at $9.35.

Wall Street Analyst Weigh In

ATEC has been the subject of several analyst reports. HC Wainwright reiterated a “buy” rating and set a $20.00 price target on shares of Alphatec in a report on Thursday, October 31st. Barclays upped their price objective on Alphatec from $19.00 to $20.00 and gave the stock an “overweight” rating in a research report on Tuesday, November 19th. Finally, Needham & Company LLC reissued a “buy” rating and set a $13.00 target price on shares of Alphatec in a research report on Thursday, October 31st. One equities research analyst has rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $17.11.

Alphatec Stock Performance

The stock has a 50 day simple moving average of $9.41 and a two-hundred day simple moving average of $8.02. The company has a market cap of $1.41 billion, a PE ratio of -7.79 and a beta of 1.41. The company has a debt-to-equity ratio of 30.21, a current ratio of 2.32 and a quick ratio of 1.15.

Institutional Investors Weigh In On Alphatec

Several hedge funds have recently modified their holdings of ATEC. Point72 Asset Management L.P. increased its position 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 worth $33,365,000 after purchasing an additional 1,260,137 shares during the period. Magnetar Financial LLC acquired a new position in Alphatec during the second quarter worth about $10,957,000. Polar Asset Management Partners Inc. lifted its stake in Alphatec by 381.9% in the 3rd 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 in the last quarter. Granite Investment Partners LLC increased its position in Alphatec by 130.2% during the 2nd quarter. Granite Investment Partners LLC now owns 664,201 shares of the medical technology company’s stock worth $6,941,000 after purchasing an additional 375,621 shares in the last quarter. Finally, AlphaCentric Advisors LLC purchased a new stake in shares of Alphatec during the third quarter worth about $2,057,000. 66.35% of the stock is owned by institutional investors and hedge funds.

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.