Alphatec (ATEC) Downgraded by ValuEngine to “Strong Sell”

Alphatec (NASDAQ:ATEC) was downgraded by analysts at ValuEngine from a “sell” rating to a “strong sell” rating in a report released on Friday.

Other equities research analysts also recently issued reports about the stock. Lake Street Capital assumed coverage on shares of Alphatec in a research note on Monday, October 16th. They set a “buy” rating and a $7.00 price objective for the company. HC Wainwright assumed coverage on shares of Alphatec in a report on Monday, August 14th. They set a “buy” rating and a $4.00 target price for the company.

Alphatec (ATEC) traded up $0.03 during trading hours on Friday, hitting $2.65. 78,409 shares of the stock traded hands, compared to its average volume of 87,236. Alphatec has a 1-year low of $1.58 and a 1-year high of $5.80. The company has a debt-to-equity ratio of -1.11, a current ratio of 2.11 and a quick ratio of 1.08.

Several institutional investors have recently modified their holdings of the stock. Broadfin Capital LLC raised its holdings in shares of Alphatec by 163.1% during the second quarter. Broadfin Capital LLC now owns 594,533 shares of the medical technology company’s stock worth $1,100,000 after purchasing an additional 368,527 shares during the last quarter. Sabby Management LLC purchased a new position in Alphatec in the second quarter valued at $629,000. Finally, Fondren Management LP increased its holdings in Alphatec by 20.8% in the second quarter. Fondren Management LP now owns 220,534 shares of the medical technology company’s stock valued at $408,000 after buying an additional 37,933 shares in the last quarter. 15.70% of the stock is owned by hedge funds and other institutional investors.

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Alphatec Company Profile

Alphatec Holdings, Inc is a medical technology company. The Company through its subsidiary, Alphatec Spine, Inc and its subsidiaries, designs, develops, manufactures and markets products for the surgical treatment of spine disorders. Its product portfolio and pipeline addresses the cervical, thoracolumbar and intervertebral regions of the spine and covers a range of spinal disorders and surgical procedures.

To view ValuEngine’s full report, visit ValuEngine’s official website.

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