Assenagon Asset Management S.A. Increases Stock Position in Alphatec Holdings, Inc. $ATEC

Assenagon Asset Management S.A. grew its stake in Alphatec Holdings, Inc. (NASDAQ:ATEC) by 30.4% in the fourth quarter, Holdings Channel.com reports. The institutional investor owned 978,343 shares of the medical technology company’s stock after buying an additional 227,914 shares during the quarter. Assenagon Asset Management S.A.’s holdings in Alphatec were worth $20,584,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Creative Planning boosted its stake in shares of Alphatec by 0.9% during the third quarter. Creative Planning now owns 58,654 shares of the medical technology company’s stock valued at $853,000 after purchasing an additional 534 shares during the period. Valeo Financial Advisors LLC increased its stake in shares of Alphatec by 2.1% in the third quarter. Valeo Financial Advisors LLC now owns 41,296 shares of the medical technology company’s stock worth $600,000 after buying an additional 846 shares during the period. Norden Group LLC increased its stake in shares of Alphatec by 2.6% in the third quarter. Norden Group LLC now owns 36,676 shares of the medical technology company’s stock worth $533,000 after buying an additional 939 shares during the period. Arizona State Retirement System raised its holdings in Alphatec by 2.8% during the 3rd quarter. Arizona State Retirement System now owns 34,603 shares of the medical technology company’s stock valued at $503,000 after buying an additional 949 shares during the last quarter. Finally, Ameritas Investment Partners Inc. raised its holdings in Alphatec by 8.8% during the 2nd quarter. Ameritas Investment Partners Inc. now owns 11,845 shares of the medical technology company’s stock valued at $131,000 after buying an additional 955 shares during the last quarter. Institutional investors own 66.35% of the company’s stock.

Alphatec Stock Up 0.3%

Shares of NASDAQ ATEC opened at $11.52 on Friday. The firm has a fifty day simple moving average of $13.76 and a two-hundred day simple moving average of $16.64. Alphatec Holdings, Inc. has a 12 month low of $8.81 and a 12 month high of $23.29. The company has a current ratio of 2.06, a quick ratio of 1.28 and a debt-to-equity ratio of 40.35. The firm has a market capitalization of $1.74 billion, a PE ratio of -12.13 and a beta of 1.02.

Alphatec (NASDAQ:ATEC) last announced its earnings results on Tuesday, February 24th. The medical technology company reported $0.06 earnings per share for the quarter, beating analysts’ consensus estimates of $0.04 by $0.02. The company had revenue of $212.93 million for the quarter, compared to the consensus estimate of $212.67 million. During the same period in the previous year, the firm posted ($0.23) EPS. The company’s revenue for the quarter was up 20.4% on a year-over-year basis. Equities analysts expect that Alphatec Holdings, Inc. will post -1.08 earnings per share for the current year.

Analyst Ratings Changes

A number of equities research analysts have issued reports on the stock. Morgan Stanley set a $23.00 price target on shares of Alphatec in a report on Tuesday, December 2nd. Lake Street Capital reaffirmed a “buy” rating on shares of Alphatec in a research note on Wednesday, February 25th. Stifel Nicolaus dropped their target price on shares of Alphatec from $24.00 to $20.00 and set a “buy” rating for the company in a report on Monday, March 9th. Needham & Company LLC reissued a “buy” rating and issued a $22.00 target price on shares of Alphatec in a research note on Monday, January 12th. Finally, Barclays upped their price target on Alphatec from $23.00 to $27.00 and gave the company an “overweight” rating in a research report on Wednesday, January 7th. One analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, Alphatec has a consensus rating of “Moderate Buy” and an average price target of $22.82.

Insiders Place Their Bets

In other news, General Counsel Tyson Eliot Marshall sold 88,835 shares of the stock in a transaction that occurred on Thursday, March 5th. The stock was sold at an average price of $12.49, for a total value of $1,109,549.15. Following the completion of the transaction, the general counsel owned 559,459 shares of the company’s stock, valued at approximately $6,987,642.91. This represents a 13.70% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Patrick Miles sold 100,000 shares of the firm’s stock in a transaction that occurred on Monday, January 5th. The shares were sold at an average price of $21.01, for a total value of $2,101,000.00. Following the completion of the transaction, the chief executive officer owned 5,135,398 shares of the company’s stock, valued at approximately $107,894,711.98. The trade was a 1.91% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 826,972 shares of company stock valued at $11,285,386 over the last ninety days. 20.90% of the stock is owned by corporate insiders.

Alphatec Company 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.