Oppenheimer Asset Management Inc. Buys Shares of 14,405 Alphatec Holdings, Inc. (NASDAQ:ATEC)

Oppenheimer Asset Management Inc. bought a new stake in Alphatec Holdings, Inc. (NASDAQ:ATEC) during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund bought 14,405 shares of the medical technology company’s stock, valued at approximately $225,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Legal & General Group Plc raised its position in Alphatec by 3.1% in the fourth quarter. Legal & General Group Plc now owns 33,038 shares of the medical technology company’s stock valued at $408,000 after purchasing an additional 994 shares during the period. CIBC Private Wealth Group LLC raised its position in Alphatec by 8.4% in the third quarter. CIBC Private Wealth Group LLC now owns 12,904 shares of the medical technology company’s stock valued at $113,000 after purchasing an additional 1,000 shares during the period. Mesirow Financial Investment Management Inc. raised its holdings in shares of Alphatec by 2.7% in the 1st quarter. Mesirow Financial Investment Management Inc. now owns 42,146 shares of the medical technology company’s stock valued at $657,000 after buying an additional 1,126 shares during the period. Captrust Financial Advisors raised its holdings in shares of Alphatec by 5.2% in the 2nd quarter. Captrust Financial Advisors now owns 23,712 shares of the medical technology company’s stock valued at $155,000 after buying an additional 1,162 shares during the period. Finally, Metropolitan Life Insurance Co. NY raised its holdings in shares of Alphatec by 35.8% in the 4th quarter. Metropolitan Life Insurance Co. NY now owns 4,508 shares of the medical technology company’s stock valued at $56,000 after buying an additional 1,188 shares during the period. Hedge funds and other institutional investors own 67.19% of the company’s stock.

Alphatec Stock Performance

NASDAQ:ATEC opened at $15.61 on Wednesday. The stock has a 50-day simple moving average of $16.65 and a 200-day simple moving average of $15.75. The stock has a market cap of $1.88 billion, a P/E ratio of -10.34 and a beta of 1.28. Alphatec Holdings, Inc. has a 1 year low of $7.11 and a 1 year high of $19.14.

Alphatec (NASDAQ:ATEC) last released its quarterly earnings data on Thursday, August 3rd. The medical technology company reported ($0.43) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.30) by ($0.13). The firm had revenue of $116.92 million during the quarter, compared to analyst estimates of $110.18 million. On average, equities research analysts predict that Alphatec Holdings, Inc. will post -1.39 EPS for the current year.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on ATEC shares. HC Wainwright reiterated a “buy” rating and issued a $20.00 price objective on shares of Alphatec in a report on Friday, August 4th. Needham & Company LLC boosted their price objective on Alphatec from $19.00 to $20.00 and gave the company a “buy” rating in a report on Friday, August 4th. Lake Street Capital boosted their price objective on Alphatec from $20.00 to $32.00 in a report on Monday, June 26th. Canaccord Genuity Group boosted their price objective on Alphatec from $17.00 to $22.00 and gave the company a “buy” rating in a report on Friday, August 4th. Finally, StockNews.com initiated coverage on Alphatec in a report on Thursday, August 17th. They issued a “sell” rating on the stock. One investment analyst has rated the stock with a sell rating and seven have given a buy rating to the stock. Based on data from MarketBeat, Alphatec presently has an average rating of “Moderate Buy” and a consensus price target of $22.00.

Insider Transactions at Alphatec

In other Alphatec news, major shareholder Jennifer N. Pritzker acquired 2,400 shares of the stock in a transaction dated Thursday, August 10th. The stock was acquired at an average cost of $14.99 per share, with a total value of $35,976.00. Following the transaction, the insider now owns 58,000 shares in the company, valued at approximately $869,420. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In other news, major shareholder Jennifer N. Pritzker bought 2,400 shares of the firm’s stock in a transaction that occurred on Thursday, August 10th. The stock was purchased at an average cost of $14.99 per share, with a total value of $35,976.00. Following the transaction, the insider now directly owns 58,000 shares in the company, valued at $869,420. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, EVP Craig E. Hunsaker sold 6,542 shares of the company’s stock in a transaction dated Tuesday, June 27th. The shares were sold at an average price of $18.00, for a total value of $117,756.00. Following the completion of the sale, the executive vice president now directly owns 1,220,914 shares of the company’s stock, valued at $21,976,452. The disclosure for this sale can be found here. In the last ninety days, insiders sold 151,421 shares of company stock valued at $2,376,541. 29.12% of the stock is currently owned by corporate insiders.

About Alphatec

Alphatec Holdings, Inc, a medical technology company, designs, develops, and advances technologies for the surgical treatment of spinal disorders. It manufactures and sells implants and instruments through third-party suppliers. The company offers SafeOp Neural InformatiX System, an Alpha InformatiX product platform; Sigma PTP Access and Patient Positioning System; split-blade retractors; Sigma-ALIF Access System, a procedure-specific access system; EOS imaging system that provides full-body imaging; spinal implants and fixation systems; and NanoTec and Calibrate PSX, as well as various standalone implants for height restoration and stabilization.