Barclays Boosts Alphatec (NASDAQ:ATEC) Price Target to $20.00

Alphatec (NASDAQ:ATEC) had its price objective increased by Barclays from $19.00 to $20.00 in a report released on Tuesday morning,Benzinga reports. They currently have an overweight rating on the medical technology company’s stock.

ATEC has been the topic of several other reports. Needham & Company LLC reissued a “buy” rating and issued a $13.00 target price on shares of Alphatec in a report on Thursday, October 31st. Lake Street Capital decreased their target price on shares of Alphatec from $32.00 to $18.00 and set a “buy” rating on the stock in a report on Tuesday, September 3rd. Morgan Stanley lowered shares of Alphatec from an “overweight” rating to an “equal weight” rating in a report on Thursday, August 1st. Canaccord Genuity Group reissued a “buy” rating and issued a $20.00 target price on shares of Alphatec in a report on Friday, August 30th. Finally, Wells Fargo & Company decreased their price target on shares of Alphatec from $26.00 to $19.00 and set an “overweight” rating on the stock in a report on Thursday, August 1st. One analyst has rated the stock with a hold rating and eight have given a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $17.11.

Alphatec Price Performance

Shares of Alphatec stock opened at $10.20 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. Alphatec has a twelve month low of $4.88 and a twelve month high of $17.34. The stock has a market capitalization of $1.45 billion, a price-to-earnings ratio of -7.98 and a beta of 1.31. The company has a 50-day simple moving average of $6.52 and a two-hundred day simple moving average of $8.28.

Institutional Investors Weigh In On Alphatec

Institutional investors have recently added to or reduced their stakes in the business. Comerica Bank grew its holdings in Alphatec by 64.8% during the 1st quarter. Comerica Bank now owns 6,443 shares of the medical technology company’s stock worth $89,000 after acquiring an additional 2,534 shares during the last quarter. EntryPoint Capital LLC bought a new stake in Alphatec during the 1st quarter worth approximately $141,000. Van ECK Associates Corp grew its holdings in Alphatec by 11.8% during the 2nd quarter. Van ECK Associates Corp now owns 12,275 shares of the medical technology company’s stock worth $128,000 after acquiring an additional 1,300 shares during the last quarter. XTX Topco Ltd bought a new stake in Alphatec during the 3rd quarter worth approximately $69,000. Finally, Cetera Advisors LLC grew its holdings in Alphatec by 15.6% during the 1st quarter. Cetera Advisors LLC now owns 12,720 shares of the medical technology company’s stock worth $175,000 after acquiring an additional 1,720 shares during the last quarter. 66.35% of the stock is owned by 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.