HC Wainwright Reaffirms "Buy" Rating for Alphatec (NASDAQ:ATEC)

Alphatec (NASDAQ:ATEC - Get Free Report)'s stock had its "buy" rating restated by stock analysts at HC Wainwright in a research note issued on Tuesday,Benzinga reports. They presently have a $20.00 price objective on the medical technology company's stock. HC Wainwright's price target indicates a potential upside of 79.86% from the company's previous close.

Other analysts have also issued reports about the company. Barclays raised their price target on Alphatec from $19.00 to $20.00 and gave the stock an "overweight" rating in a research note on Tuesday, November 19th. Needham & Company LLC lifted their target price on Alphatec from $13.00 to $16.00 and gave the company a "buy" rating in a report on Monday. One investment analyst has rated the stock with a hold rating and eight have issued a buy rating to the company's stock. According to data from MarketBeat.com, Alphatec presently has an average rating of "Moderate Buy" and a consensus price target of $17.44.

Alphatec Price Performance

Alphatec stock traded up $0.24 during midday trading on Tuesday, reaching $11.12. 2,321,717 shares of the company were exchanged, compared to its average volume of 2,052,927. The company has a market capitalization of $1.58 billion, a price-to-earnings ratio of -8.69 and a beta of 1.41. Alphatec has a 1 year low of $4.88 and a 1 year high of $17.34. The company has a debt-to-equity ratio of 30.21, a quick ratio of 1.15 and a current ratio of 2.32. The firm's 50-day simple moving average is $9.49 and its 200-day simple moving average is $8.00.

Insider Activity

In related news, EVP David Sponsel sold 58,283 shares of the firm's stock in a transaction that occurred 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 completion of the transaction, the executive vice president now owns 502,311 shares of the company's stock, valued at approximately $5,379,750.81. This trade represents a 10.40 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 22.80% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Alphatec

Several hedge funds have recently bought and sold shares of ATEC. XTX Topco Ltd bought a new stake in Alphatec in the third quarter worth $69,000. Net Worth Advisory Group bought a new position in shares of Alphatec in the third quarter worth about $76,000. Tempus Wealth Planning LLC acquired a new position in shares of Alphatec during the 3rd quarter worth about $107,000. Van ECK Associates Corp boosted its stake in Alphatec by 57.0% during the 3rd 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 period. Finally, Atria Investments Inc grew its stake in shares of Alphatec by 8.0% in the third quarter. Atria Investments Inc now owns 19,609 shares of the medical technology company's stock worth $109,000 after acquiring an additional 1,460 shares during the last quarter. 66.35% of the stock is 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.