Principal Financial Group Inc. Takes $944,000 Position in Alphatec Holdings, Inc. $ATEC

Principal Financial Group Inc. bought a new position in Alphatec Holdings, Inc. (NASDAQ:ATEC) in the third quarter, according to its most recent filing with the SEC. The firm bought 64,896 shares of the medical technology company’s stock, valued at approximately $944,000.

Several other large investors also recently bought and sold shares of the stock. Osterweis Capital Management Inc. purchased a new position in shares of Alphatec in the second quarter worth $37,000. Nisa Investment Advisors LLC raised its stake in Alphatec by 22.4% in the 2nd quarter. Nisa Investment Advisors LLC now owns 5,714 shares of the medical technology company’s stock worth $63,000 after acquiring an additional 1,045 shares during the last quarter. State of Alaska Department of Revenue purchased a new position in Alphatec in the 3rd quarter worth $120,000. Destiny Wealth Partners LLC acquired a new stake in Alphatec during the 3rd quarter worth about $145,000. Finally, Park National Corp OH purchased a new stake in Alphatec during the 3rd quarter valued at about $147,000. Hedge funds and other institutional investors own 66.35% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have recently issued reports on ATEC. JPMorgan Chase & Co. initiated coverage on Alphatec in a research note on Friday, October 24th. They issued an “overweight” rating and a $19.00 price objective for the company. Morgan Stanley set a $23.00 price target on shares of Alphatec in a research report on Tuesday, December 2nd. Needham & Company LLC reaffirmed a “buy” rating and issued a $22.00 price objective on shares of Alphatec in a report on Monday, January 12th. HC Wainwright reiterated a “buy” rating and issued a $24.00 price objective on shares of Alphatec in a research note on Monday, January 12th. Finally, Canaccord Genuity Group boosted their target price on shares of Alphatec from $20.00 to $25.00 and gave the company a “buy” rating in a research report on Friday, October 31st. Ten research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $22.82.

Insider Buying and Selling

In other news, major shareholder Squadron Capital Llc sold 250,000 shares of the firm’s stock in a transaction dated Monday, November 24th. The stock was sold at an average price of $20.62, for a total transaction of $5,155,000.00. Following the sale, the insider directly owned 10,895,045 shares in the company, valued at $224,655,827.90. This trade represents a 2.24% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, major shareholder Jennifer N. Pritzker sold 250,000 shares of the company’s stock in a transaction dated Monday, November 24th. The stock was sold at an average price of $20.62, for a total value of $5,155,000.00. Following the completion of the transaction, the insider directly owned 10,895,045 shares of the company’s stock, valued at $224,655,827.90. The trade was a 2.24% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 2,186,125 shares of company stock valued at $44,850,878 in the last ninety days. Company insiders own 20.90% of the company’s stock.

Alphatec Price Performance

Shares of NASDAQ ATEC opened at $13.54 on Thursday. The company has a debt-to-equity ratio of 43.02, a current ratio of 1.99 and a quick ratio of 1.24. The stock has a market capitalization of $2.01 billion, a price-to-earnings ratio of -13.02 and a beta of 1.01. The firm’s 50 day simple moving average is $17.61 and its 200-day simple moving average is $17.18. Alphatec Holdings, Inc. has a 12 month low of $8.81 and a 12 month high of $23.29.

Alphatec Profile

Alphatec Holdings, Inc (NASDAQ: ATEC) is a medical technology company focused on the design, development and commercialization of products for the surgical correction of degenerative spinal conditions. The company’s portfolio centers on interbody implants, biologics, fixation devices and surgical planning tools intended to improve patient outcomes in spinal fusion procedures. Alphatec’s flagship offerings include customizable interbody cages, bone graft materials and specialized instrumentation designed for minimally invasive and open spinal surgeries.

Founded as Alphatec Spine in 1985 and rebranded as Alphatec Holdings in 2018, the company has grown from a single-product organization into a multi-platform innovator in the spine market.