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

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

Several other equities research analysts have also issued reports on the stock. Needham & Company LLC raised their target price on shares of Alphatec from $13.00 to $16.00 and gave the stock a “buy” rating in a report on Monday. Barclays raised their price objective on shares of 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 issued a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $17.44.

Alphatec Stock Up 2.2 %

Shares of ATEC opened at $11.12 on Tuesday. The company has a quick ratio of 1.15, a current ratio of 2.32 and a debt-to-equity ratio of 30.21. The business has a fifty day moving average of $9.54 and a 200 day moving average of $8.00. The company has a market cap of $1.58 billion, a PE ratio of -8.69 and a beta of 1.41. Alphatec has a 52-week low of $4.88 and a 52-week high of $17.34.

Insiders Place Their Bets

In other news, EVP David Sponsel sold 58,283 shares of Alphatec stock in a transaction that occurred on Monday, January 13th. The shares were sold at an average price of $10.71, for a total transaction of $624,210.93. Following the completion of the sale, the executive vice president now owns 502,311 shares of the company’s stock, valued at approximately $5,379,750.81. The trade was a 10.40 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 22.80% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the company. XTX Topco Ltd purchased a new stake in shares of Alphatec in the 3rd quarter worth $69,000. Net Worth Advisory Group bought a new stake in shares of Alphatec in the third quarter valued at about $76,000. Van ECK Associates Corp lifted its stake in Alphatec by 57.0% in the third quarter. Van ECK Associates Corp now owns 19,273 shares of the medical technology company’s stock worth $99,000 after acquiring an additional 6,998 shares during the period. Tempus Wealth Planning LLC bought a new position in Alphatec during the 3rd quarter worth about $107,000. Finally, Atria Investments Inc increased its position in Alphatec by 8.0% during the 3rd quarter. Atria Investments Inc now owns 19,609 shares of the medical technology company’s stock valued at $109,000 after purchasing an additional 1,460 shares during the period. 66.35% of the stock is currently 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.