Alphatec (NASDAQ:ATEC) Shares Up 3.3% – Time to Buy?

Alphatec Holdings, Inc. (NASDAQ:ATEC) traded up 3.3% during trading on Wednesday . The company traded as high as $9.80 and last traded at $9.66. 564,365 shares were traded during mid-day trading, a decline of 42% from the average session volume of 967,765 shares. The stock had previously closed at $9.35.

Analysts Set New Price Targets

Several brokerages recently weighed in on ATEC. Needham & Company LLC reissued a “buy” rating and set a $13.00 price target on shares of Alphatec in a research report on Thursday, October 31st. Barclays raised their target price on Alphatec from $19.00 to $20.00 and gave the stock an “overweight” rating in a research report on Tuesday, November 19th. Finally, HC Wainwright reaffirmed a “buy” rating and set a $20.00 price target on shares of Alphatec in a research report on Thursday, October 31st. One equities research analyst has rated the stock with a hold rating and eight have assigned a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $17.11.

Alphatec Stock Up 3.2 %

The company has a market capitalization of $1.41 billion, a PE ratio of -7.79 and a beta of 1.41. The company’s 50 day moving average is $9.41 and its two-hundred day moving average is $8.02. The company has a quick ratio of 1.15, a current ratio of 2.32 and a debt-to-equity ratio of 30.21.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in ATEC. Magnetar Financial LLC purchased a new position in Alphatec during the second quarter valued at approximately $10,957,000. First Eagle Investment Management LLC purchased a new stake in shares of Alphatec during the second quarter worth approximately $1,071,000. Lighthouse Investment Partners LLC boosted its position in Alphatec by 257.5% during the second quarter. Lighthouse Investment Partners LLC now owns 208,594 shares of the medical technology company’s stock worth $2,180,000 after acquiring an additional 150,244 shares during the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. grew its position in shares of Alphatec by 11.3% in the third quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 2,928,094 shares of the medical technology company’s stock valued at $16,280,000 after purchasing an additional 297,850 shares in the last quarter. Finally, Barclays PLC raised its holdings in shares of Alphatec by 362.3% during the 3rd quarter. Barclays PLC now owns 170,546 shares of the medical technology company’s stock worth $948,000 after acquiring an additional 133,653 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.