Wrapmanager Inc. Raises Position in Alphatec Holdings, Inc. (NASDAQ:ATEC)

Wrapmanager Inc. lifted its holdings in shares of Alphatec Holdings, Inc. (NASDAQ:ATEC) by 9.5% during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 38,399 shares of the medical technology company’s stock after purchasing an additional 3,325 shares during the quarter. Wrapmanager Inc.’s holdings in Alphatec were worth $213,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in ATEC. Net Worth Advisory Group acquired a new stake in Alphatec in the 3rd quarter worth about $76,000. Comerica Bank lifted its holdings in shares of 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 period. Van ECK Associates Corp boosted its position in shares of Alphatec by 57.0% in the third quarter. Van ECK Associates Corp now owns 19,273 shares of the medical technology company’s stock worth $99,000 after acquiring an additional 6,998 shares during the last quarter. Tempus Wealth Planning LLC purchased a new stake in Alphatec in the third quarter valued at approximately $107,000. Finally, Atria Investments Inc increased its position in Alphatec by 8.0% during the third quarter. Atria Investments Inc now owns 19,609 shares of the medical technology company’s stock worth $109,000 after purchasing an additional 1,460 shares during the last quarter. Hedge funds and other institutional investors own 66.35% of the company’s stock.

Analyst Ratings Changes

ATEC has been the topic of a number of research analyst reports. HC Wainwright reiterated a “buy” rating and issued a $20.00 price target on shares of Alphatec in a report on Thursday, October 31st. Canaccord Genuity Group reissued a “buy” rating and set a $20.00 price target on shares of Alphatec in a research report on Friday, August 30th. Needham & Company LLC restated a “buy” rating and issued a $13.00 price objective on shares of Alphatec in a report on Thursday, October 31st. Piper Sandler decreased their target price on Alphatec from $17.00 to $12.00 and set an “overweight” rating for the company in a report on Thursday, August 1st. Finally, Barclays raised their price target on shares of Alphatec from $19.00 to $20.00 and gave the company an “overweight” rating in a report on Tuesday. One analyst has rated the stock with a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat.com, Alphatec has a consensus rating of “Moderate Buy” and a consensus price target of $17.11.

Alphatec Trading Up 12.3 %

ATEC opened at $9.57 on Wednesday. The firm’s 50 day moving average is $6.44 and its 200-day moving average is $8.27. Alphatec Holdings, Inc. has a 52-week low of $4.88 and a 52-week high of $17.34. The company has a quick ratio of 1.15, a current ratio of 2.32 and a debt-to-equity ratio of 30.21. The firm has a market capitalization of $1.36 billion, a P/E ratio of -7.48 and a beta of 1.31.

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.