Alphatec Holdings, Inc. $ATEC Shares Sold by Assenagon Asset Management S.A.

Assenagon Asset Management S.A. lowered its position in shares of Alphatec Holdings, Inc. (NASDAQ:ATEC) by 73.7% in the first quarter, according to its most recent 13F filing with the SEC. The firm owned 256,881 shares of the medical technology company’s stock after selling 721,462 shares during the quarter. Assenagon Asset Management S.A.’s holdings in Alphatec were worth $2,795,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in Alphatec by 4.5% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 74,005 shares of the medical technology company’s stock worth $750,000 after buying an additional 3,196 shares during the period. Dynamic Technology Lab Private Ltd purchased a new stake in shares of Alphatec in the first quarter worth about $257,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its stake in shares of Alphatec by 18.4% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 265,907 shares of the medical technology company’s stock valued at $2,696,000 after buying an additional 41,264 shares in the last quarter. Quantbot Technologies LP acquired a new stake in shares of Alphatec in the second quarter valued at about $242,000. Finally, Invesco Ltd. raised its holdings in shares of Alphatec by 455.0% during the 2nd quarter. Invesco Ltd. now owns 282,212 shares of the medical technology company’s stock valued at $3,133,000 after buying an additional 231,367 shares during the period. Institutional investors and hedge funds own 66.35% of the company’s stock.

Insider Transactions at Alphatec

In related news, Director Karen K. Mcginnis sold 6,050 shares of the company’s stock in a transaction on Thursday, June 11th. The stock was sold at an average price of $8.01, for a total transaction of $48,460.50. Following the completion of the transaction, the director directly owned 94,671 shares in the company, valued at $758,314.71. This represents a 6.01% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 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 owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several research firms recently commented on ATEC. JPMorgan Chase & Co. reduced their price target on Alphatec from $24.00 to $16.00 and set an “overweight” rating on the stock in a research report on Wednesday, May 6th. Weiss Ratings upgraded Alphatec from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Wednesday, May 6th. Stifel Nicolaus reduced their target price on Alphatec from $24.00 to $20.00 and set a “buy” rating for the company in a research note on Monday, March 9th. Canaccord Genuity Group dropped their price target on shares of Alphatec from $25.00 to $23.00 and set a “buy” rating for the company in a research note on Wednesday, May 6th. Finally, Wells Fargo & Company decreased their price target on Alphatec from $28.00 to $14.00 and set an “overweight” rating for the company in a research note on Thursday, May 7th. Ten research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $18.58.

Alphatec Price Performance

ATEC opened at $8.65 on Wednesday. The company has a quick ratio of 1.12, a current ratio of 1.90 and a debt-to-equity ratio of 40.35. The company’s 50-day moving average price is $8.55 and its 200 day moving average price is $12.80. The firm has a market cap of $1.33 billion, a price-to-earnings ratio of -10.55 and a beta of 0.88. Alphatec Holdings, Inc. has a fifty-two week low of $6.82 and a fifty-two week high of $23.29.

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.