OP Asset Management Ltd Takes $1.76 Million Position in Alphatec Holdings, Inc. $ATEC

OP Asset Management Ltd acquired a new stake in Alphatec Holdings, Inc. (NASDAQ:ATEC) in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 162,052 shares of the medical technology company’s stock, valued at approximately $1,763,000. OP Asset Management Ltd owned 0.11% of Alphatec as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in ATEC. Aster Capital Management DIFC Ltd purchased a new position in shares of Alphatec in the third quarter valued at $34,000. Osterweis Capital Management Inc. purchased a new position in Alphatec during the 2nd quarter valued at about $37,000. Northwestern Mutual Wealth Management Co. lifted its holdings in shares of Alphatec by 157.1% in the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 2,571 shares of the medical technology company’s stock valued at $54,000 after purchasing an additional 1,571 shares in the last quarter. FNY Investment Advisers LLC acquired a new stake in Alphatec during the 3rd quarter valued at $74,000. Finally, State of Wyoming acquired a new stake in Alphatec during the 2nd quarter valued at $124,000. 66.35% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on ATEC shares. Piper Sandler reissued an “overweight” rating and issued a $14.00 price target (down from $25.00) on shares of Alphatec in a report on Wednesday, May 6th. JPMorgan Chase & Co. decreased their price objective on Alphatec from $24.00 to $16.00 and set an “overweight” rating on the stock in a research note on Wednesday, May 6th. TD Cowen dropped their price objective on Alphatec from $20.00 to $11.00 and set a “buy” rating for the company in a research report on Wednesday, May 6th. Barclays cut their target price on shares of Alphatec from $27.00 to $24.00 and set an “overweight” rating for the company in a research note on Thursday, May 7th. Finally, Stifel Nicolaus decreased their price target on shares of Alphatec from $24.00 to $20.00 and set a “buy” rating on the stock in a research note on Monday, March 9th. Ten investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $18.58.

Insider Buying and Selling at Alphatec

In related news, Director Karen K. Mcginnis sold 6,050 shares of the firm’s stock in a transaction that occurred on Thursday, June 11th. The shares were sold at an average price of $8.01, for a total value of $48,460.50. Following the sale, the director directly owned 94,671 shares of the company’s stock, valued at approximately $758,314.71. This trade represents a 6.01% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. 13.48% of the stock is currently owned by insiders.

Alphatec Price Performance

Shares of NASDAQ:ATEC opened at $9.30 on Monday. The company has a market cap of $1.43 billion, a P/E ratio of -11.34 and a beta of 0.88. The business has a fifty day simple moving average of $8.62 and a 200-day simple moving average of $12.97. Alphatec Holdings, Inc. has a 52 week low of $6.82 and a 52 week high of $23.29. The company has a quick ratio of 1.12, a current ratio of 1.90 and a debt-to-equity ratio of 40.35.

About Alphatec

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.