Alphatec Holdings, Inc. (NASDAQ:ATEC) Short Interest Update

Alphatec Holdings, Inc. (NASDAQ:ATEC) was the recipient of a significant decline in short interest in November. As of November 15th, there was short interest totalling 10,590,000 shares, a decline of 10.3% from the October 31st total of 11,810,000 shares. Based on an average daily trading volume, of 2,260,000 shares, the short-interest ratio is presently 4.7 days.

Hedge Funds Weigh In On Alphatec

Several institutional investors have recently modified their holdings of the stock. Vanguard Group Inc. boosted its stake in Alphatec by 1.2% during the 1st quarter. Vanguard Group Inc. now owns 5,458,847 shares of the medical technology company’s stock worth $75,278,000 after acquiring an additional 64,648 shares during the last quarter. Point72 Asset Management L.P. raised its holdings in Alphatec by 65.2% in the second quarter. Point72 Asset Management L.P. now owns 3,192,789 shares of the medical technology company’s stock worth $33,365,000 after purchasing an additional 1,260,137 shares during the period. State Street Corp boosted its position in shares of Alphatec by 10.1% during the third quarter. State Street Corp now owns 3,138,960 shares of the medical technology company’s stock worth $17,453,000 after purchasing an additional 287,350 shares in the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. increased its position in shares of Alphatec by 11.3% in the 3rd 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 buying an additional 297,850 shares in the last quarter. Finally, Fred Alger Management LLC raised its position in shares of Alphatec by 0.8% during the second quarter. Fred Alger Management LLC now owns 2,638,303 shares of the medical technology company’s stock worth $27,570,000 after purchasing an additional 21,078 shares during the period. 66.35% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on ATEC shares. HC Wainwright reaffirmed a “buy” rating and set a $20.00 price objective on shares of Alphatec in a report on Thursday, October 31st. Canaccord Genuity Group restated a “buy” rating and set a $20.00 target price on shares of Alphatec in a research report on Friday, August 30th. Barclays upped their price target on Alphatec from $19.00 to $20.00 and gave the company an “overweight” rating in a research report on Tuesday, November 19th. Needham & Company LLC reissued a “buy” rating and set a $13.00 price objective on shares of Alphatec in a report on Thursday, October 31st. Finally, Lake Street Capital reduced their price target on shares of Alphatec from $32.00 to $18.00 and set a “buy” rating on the stock in a research report on Tuesday, September 3rd. 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, the company has a consensus rating of “Moderate Buy” and a consensus target price of $17.11.

Alphatec Trading Down 2.6 %

NASDAQ ATEC opened at $10.21 on Tuesday. Alphatec has a 12 month low of $4.88 and a 12 month high of $17.34. The stock has a 50-day simple moving average of $7.21 and a 200 day simple moving average of $8.17. 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 company has a market capitalization of $1.45 billion, a PE ratio of -7.98 and a beta of 1.31.

Alphatec Company Profile

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.