Alphatec (NASDAQ:ATEC) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a report issued on Thursday, March 15th.
According to Zacks, “Alphatec Holdings, Inc. is a medical technology company focused on the design, development, manufacturing and marketing of products for the surgical treatment of spine disorders. The Company’s principal product offering includes a variety of spinal implant products and systems consisted of components, such as spine screws and rods, spinal spacers, plates, and various biologics offerings. Alphatec Holdings, Inc. is headquartered in Carlsbad, California. “
Several other research firms have also recently weighed in on ATEC. HC Wainwright reaffirmed a “buy” rating and set a $4.00 target price on shares of Alphatec in a research note on Wednesday, November 22nd. ValuEngine cut Alphatec from a “sell” rating to a “strong sell” rating in a research note on Friday, December 1st.
NASDAQ ATEC traded up $0.10 on Thursday, hitting $3.35. 18,448 shares of the company were exchanged, compared to its average volume of 70,479. The company has a current ratio of 2.23, a quick ratio of 1.32 and a debt-to-equity ratio of -1.42. The company has a market cap of $85.33, a PE ratio of -9.31 and a beta of 1.25. Alphatec has a twelve month low of $1.58 and a twelve month high of $4.27.
A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Renaissance Technologies LLC lifted its holdings in Alphatec by 10.2% in the 4th quarter. Renaissance Technologies LLC now owns 359,087 shares of the medical technology company’s stock worth $955,000 after purchasing an additional 33,300 shares during the last quarter. HBK Sorce Advisory LLC lifted its holdings in Alphatec by 347.7% in the 4th quarter. HBK Sorce Advisory LLC now owns 67,150 shares of the medical technology company’s stock worth $179,000 after purchasing an additional 52,150 shares during the last quarter. Armistice Capital LLC lifted its holdings in shares of Alphatec by 18.2% during the fourth quarter. Armistice Capital LLC now owns 778,414 shares of the medical technology company’s stock worth $2,071,000 after buying an additional 120,000 shares during the last quarter. Broadfin Capital LLC acquired a new position in shares of Alphatec during the fourth quarter worth approximately $387,000. Finally, HPM Partners LLC acquired a new position in shares of Alphatec during the fourth quarter worth approximately $515,000. Hedge funds and other institutional investors own 11.98% of the company’s stock.
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Alphatec Company Profile
Alphatec Holdings, Inc, a medical technology company, focuses on the design, development, and promotion of products for the surgical treatment of spine disorders. Its product portfolio and pipeline address the cervical, thoracolumbar, and intervertebral regions of the spine; and cover various spinal disorders and surgical procedures.
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