Walleye Capital LLC Acquires 32,529 Shares of Alphatec Holdings, Inc. (NASDAQ:ATEC)

Walleye Capital LLC grew its holdings in shares of Alphatec Holdings, Inc. (NASDAQ:ATEC) by 3.2% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,061,462 shares of the medical technology company’s stock after purchasing an additional 32,529 shares during the quarter. Walleye Capital LLC owned about 0.75% of Alphatec worth $5,902,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also modified their holdings of ATEC. Net Worth Advisory Group bought a new position in Alphatec during the third quarter valued at about $76,000. Comerica Bank lifted its holdings in Alphatec by 64.8% in the 1st quarter. Comerica Bank now owns 6,443 shares of the medical technology company’s stock worth $89,000 after purchasing an additional 2,534 shares during the last quarter. Van ECK Associates Corp boosted its position in Alphatec by 57.0% during the third quarter. Van ECK Associates Corp now owns 19,273 shares of the medical technology company’s stock worth $99,000 after purchasing an additional 6,998 shares during the period. Tempus Wealth Planning LLC acquired a new position in Alphatec during the third quarter valued at approximately $107,000. Finally, Atria Investments Inc raised its position in shares of Alphatec by 8.0% in the third 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. Institutional investors and hedge funds own 66.35% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on ATEC shares. Lake Street Capital decreased their price objective on shares of Alphatec from $32.00 to $18.00 and set a “buy” rating for the company in a report on Tuesday, September 3rd. HC Wainwright reaffirmed a “buy” rating and issued a $20.00 price target on shares of Alphatec in a research report on Thursday, October 31st. Canaccord Genuity Group reissued a “buy” rating and set a $20.00 price objective on shares of Alphatec in a research report on Friday, August 30th. Needham & Company LLC reaffirmed a “buy” rating and issued a $13.00 price target on shares of Alphatec in a research report on Thursday, October 31st. Finally, Barclays increased their price objective on Alphatec from $19.00 to $20.00 and gave the company an “overweight” rating in a research report on Tuesday, November 19th. One investment analyst has rated the stock with a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $17.11.

Alphatec Stock Performance

ATEC opened at $10.48 on Monday. The stock’s 50 day simple moving average is $7.11 and its 200-day simple moving average is $8.18. 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 cap of $1.49 billion, a PE ratio of -8.19 and a beta of 1.31. Alphatec Holdings, Inc. has a 1 year low of $4.88 and a 1 year high of $17.34.

Alphatec 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.