Alphatec’s (ATEC) “Buy” Rating Reiterated at HC Wainwright

HC Wainwright reaffirmed their buy rating on shares of Alphatec (NASDAQ:ATEC) in a research report sent to investors on Tuesday morning,Benzinga reports. HC Wainwright currently has a $20.00 target price on the medical technology company’s stock.

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

Alphatec Stock Performance

Shares of NASDAQ:ATEC opened at $11.29 on Tuesday. The firm’s 50 day simple moving average is $9.63 and its 200 day simple moving average is $8.05. Alphatec has a fifty-two week low of $4.88 and a fifty-two week high of $17.34. The company has a market capitalization of $1.60 billion, a price-to-earnings ratio of -8.82 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.

Insider Activity

In other news, EVP David Sponsel sold 58,283 shares of the business’s stock in a transaction on Monday, January 13th. The shares were sold at an average price of $10.71, for a total value of $624,210.93. Following the sale, the executive vice president now owns 502,311 shares of the company’s stock, valued at $5,379,750.81. The trade was a 10.40 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Corporate insiders own 22.80% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the business. XTX Topco Ltd acquired a new position in shares of Alphatec during the 3rd quarter worth about $69,000. Net Worth Advisory Group bought a new stake in Alphatec during the third quarter worth about $76,000. Van ECK Associates Corp boosted its position in Alphatec by 57.0% during the third quarter. Van ECK Associates Corp now owns 19,273 shares of the medical technology company’s stock valued at $99,000 after purchasing an additional 6,998 shares during the last quarter. Tempus Wealth Planning LLC bought a new position in Alphatec in the third quarter valued at approximately $107,000. Finally, Atria Investments Inc increased its position in shares of Alphatec by 8.0% during the 3rd quarter. Atria Investments Inc now owns 19,609 shares of the medical technology company’s stock worth $109,000 after purchasing an additional 1,460 shares during the last quarter. Institutional investors own 66.35% of the company’s stock.

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.