Alphatec (NASDAQ:ATEC) Shares Up 3.3% – Still a Buy?

Alphatec Holdings, Inc. (NASDAQ:ATEC) rose 3.3% during mid-day trading 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 Upgrades and Downgrades

A number of research firms have recently issued reports on ATEC. Barclays increased their price objective on shares of Alphatec from $19.00 to $20.00 and gave the stock an “overweight” rating in a research report on Tuesday, November 19th. Needham & Company LLC reissued a “buy” rating and issued a $13.00 price objective on shares of Alphatec in a research note on Thursday, October 31st. Finally, HC Wainwright reaffirmed a “buy” rating and set a $20.00 target price on shares of Alphatec in a research report on Thursday, October 31st. One research analyst has rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to MarketBeat, Alphatec presently has an average rating of “Moderate Buy” and a consensus target price of $17.11.

Alphatec Stock Up 2.2 %

The company has a current ratio of 2.32, a quick ratio of 1.15 and a debt-to-equity ratio of 30.21. The stock has a market capitalization of $1.36 billion, a PE ratio of -7.47 and a beta of 1.41. The stock’s fifty day simple moving average is $9.29 and its 200-day simple moving average is $8.00.

Institutional Investors Weigh In On Alphatec

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Van ECK Associates Corp grew its holdings in shares of Alphatec by 11.8% in the second 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 in the last quarter. Atria Investments Inc grew its stake in 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 period. Entropy Technologies LP increased its position in shares of Alphatec by 14.9% during the 3rd quarter. Entropy Technologies LP now owns 21,623 shares of the medical technology company’s stock valued at $120,000 after purchasing an additional 2,800 shares during the last quarter. Wrapmanager Inc. raised its stake in shares of Alphatec by 9.5% during the 3rd quarter. Wrapmanager Inc. now owns 38,399 shares of the medical technology company’s stock worth $213,000 after purchasing an additional 3,325 shares during the period. Finally, Rhumbline Advisers boosted its holdings in shares of Alphatec by 2.6% in the 2nd quarter. Rhumbline Advisers now owns 143,474 shares of the medical technology company’s stock worth $1,499,000 after buying an additional 3,676 shares during the last quarter. Hedge funds and other 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.