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

Alphatec (NASDAQ:ATEC) had its price target hoisted by Barclays from $19.00 to $20.00 in a research note released on Tuesday,Benzinga reports. The brokerage currently has an overweight rating on the medical technology company’s stock.

A number of other analysts have also issued reports on the company. Stifel Nicolaus lowered 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 reissued a “buy” rating and issued a $20.00 price target on shares of Alphatec in a research note on Friday, August 30th. Morgan Stanley downgraded Alphatec from an “overweight” rating to an “equal weight” rating in a research report on Thursday, August 1st. Piper Sandler cut their target price on Alphatec from $17.00 to $12.00 and set an “overweight” rating on the stock in a research report on Thursday, August 1st. Finally, Needham & Company LLC reiterated a “buy” rating and issued a $13.00 price objective on shares of Alphatec in a report on Thursday, October 31st. One equities research analyst has rated the stock with a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $17.11.

Alphatec Trading Up 12.3 %

ATEC stock opened at $9.57 on Tuesday. The company’s 50-day simple moving average is $6.44 and its 200-day simple moving average is $8.27. Alphatec has a 52-week low of $4.88 and a 52-week high of $17.34. The firm has a market cap of $1.36 billion, a P/E ratio of -7.48 and a beta of 1.31. The company has a quick ratio of 1.15, a current ratio of 2.32 and a debt-to-equity ratio of 30.21.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in ATEC. Point72 Asset Management L.P. boosted its position in shares of 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 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 approximately $10,957,000. BNP PARIBAS ASSET MANAGEMENT Holding S.A. raised its stake in shares of 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 worth $27,486,000 after buying an additional 505,202 shares in the last quarter. Polar Asset Management Partners Inc. raised its stake in shares of Alphatec by 381.9% during the 3rd 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 in the last quarter. Finally, Granite Investment Partners LLC raised its stake in shares of 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 buying an additional 375,621 shares in the last quarter. 66.35% of the stock is owned by institutional investors and hedge funds.

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.