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

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

Several other research firms have also commented on ATEC. Barclays assumed coverage on Alphatec in a research report on Monday, July 8th. They set an “overweight” rating and a $19.00 price target for the company. Wells Fargo & Company dropped their target price on Alphatec from $26.00 to $19.00 and set an “overweight” rating for the company in a research report on Thursday, August 1st. Needham & Company LLC reissued a “buy” rating and set a $13.00 price target on shares of Alphatec in a research report on Thursday. Morgan Stanley cut shares of Alphatec from an “overweight” rating to an “equal weight” rating in a report on Thursday, August 1st. Finally, Stifel Nicolaus reduced their target price on shares of Alphatec from $19.00 to $16.00 and set a “buy” rating on the stock in a report on Thursday, August 1st. One equities research analyst has rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $17.00.

Alphatec Price Performance

Alphatec stock opened at $8.11 on Thursday. The company’s 50 day simple moving average is $5.82 and its 200-day simple moving average is $8.62. The company has a debt-to-equity ratio of 30.21, a quick ratio of 1.21 and a current ratio of 2.32. Alphatec has a 1 year low of $4.88 and a 1 year high of $17.34. The company has a market capitalization of $1.15 billion, a price-to-earnings ratio of -6.34 and a beta of 1.31.

Insider Buying and Selling

In other news, Director David M. Demski bought 50,000 shares of the stock in a transaction that occurred on Wednesday, August 21st. The stock was purchased at an average price of $5.67 per share, for a total transaction of $283,500.00. Following the completion of the purchase, the director now owns 288,441 shares in the company, valued at approximately $1,635,460.47. This trade represents a 0.00 % increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 22.80% of the stock is owned by insiders.

Hedge Funds Weigh In On Alphatec

Hedge funds have recently added to or reduced their stakes in the stock. Point72 Asset Management L.P. boosted its holdings in shares of Alphatec by 65.2% in the 2nd 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 in the last quarter. Magnetar Financial LLC acquired a new position in Alphatec in the second quarter valued at $10,957,000. BNP PARIBAS ASSET MANAGEMENT Holding S.A. grew its holdings in shares of Alphatec by 48.1% during the first quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 2,125,042 shares of the medical technology company’s stock worth $29,305,000 after purchasing an additional 690,022 shares during the last quarter. Granite Investment Partners LLC increased 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 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 in the 3rd quarter valued at about $2,057,000. 66.35% of the stock is currently owned by hedge funds and other institutional investors.

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.