Alphatec (NASDAQ:ATEC) Trading 3.3% Higher - Here's What Happened

Alphatec Holdings, Inc. (NASDAQ:ATEC - Get Free Report)'s stock price was up 3.3% on Wednesday . The stock traded as high as $9.80 and last traded at $9.66. Approximately 564,365 shares changed hands during trading, a decline of 42% from the average daily volume of 967,765 shares. The stock had previously closed at $9.35.

Analyst Ratings Changes

ATEC has been the topic of a number of research reports. Barclays upped their price objective on Alphatec from $19.00 to $20.00 and gave the company an "overweight" rating in a report on Tuesday, November 19th. Needham & Company LLC reaffirmed a "buy" rating and set a $13.00 price target on shares of Alphatec in a research report on Thursday, October 31st. Finally, HC Wainwright reissued a "buy" rating and issued a $20.00 price objective on shares of Alphatec in a report on Thursday, October 31st. One 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.com, Alphatec currently has an average rating of "Moderate Buy" and an average target price of $17.11.

Alphatec Stock Performance

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 company has a market cap of $1.37 billion, a P/E ratio of -7.55 and a beta of 1.41. The stock's fifty day moving average price is $9.29 and its two-hundred day moving average price is $8.00.

Institutional Trading of Alphatec

Several large investors have recently bought and sold shares of the business. Van ECK Associates Corp increased its position in Alphatec by 11.8% in the 2nd quarter. Van ECK Associates Corp now owns 12,275 shares of the medical technology company's stock valued at $128,000 after acquiring an additional 1,300 shares during the period. XTX Topco Ltd bought a new position in Alphatec during the 3rd quarter worth $69,000. Net Worth Advisory Group acquired a new position in Alphatec during the 3rd quarter worth about $76,000. Tempus Wealth Planning LLC acquired a new position in shares of Alphatec in the third quarter worth approximately $107,000. Finally, Atria Investments Inc boosted its stake in shares of Alphatec by 8.0% in 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 last quarter. 66.35% of the stock is owned by institutional investors and hedge funds.

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.