Assenagon Asset Management S.A. Trims Stock Position in Alphatec Holdings, Inc. (NASDAQ:ATEC)

Assenagon Asset Management S.A. lessened its holdings in Alphatec Holdings, Inc. (NASDAQ:ATEC) by 16.6% in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 10,447 shares of the medical technology company’s stock after selling 2,079 shares during the period. Assenagon Asset Management S.A.’s holdings in Alphatec were worth $106,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently modified their holdings of the business. Comerica Bank boosted its holdings in shares of Alphatec by 66.8% during the 4th quarter. Comerica Bank now owns 3,116 shares of the medical technology company’s stock worth $29,000 after purchasing an additional 1,248 shares during the last quarter. Quarry LP increased its position in shares of Alphatec by 79.2% during the fourth quarter. Quarry LP now owns 5,374 shares of the medical technology company’s stock worth $49,000 after acquiring an additional 2,375 shares during the period. Lazard Asset Management LLC purchased a new stake in shares of Alphatec during the fourth quarter worth $76,000. AlphaQuest LLC purchased a new stake in shares of Alphatec during the fourth quarter worth $80,000. Finally, State of Wyoming purchased a new position in Alphatec in the fourth quarter valued at $86,000. Hedge funds and other institutional investors own 66.35% of the company’s stock.

Insider Buying and Selling at Alphatec

In related news, Director Karen K. Mcginnis sold 3,963 shares of the stock in a transaction dated Wednesday, June 11th. The shares were sold at an average price of $12.11, for a total transaction of $47,991.93. Following the sale, the director now owns 68,709 shares in the company, valued at $832,065.99. This represents a 5.45% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Craig E. Hunsaker sold 186,122 shares of the firm’s stock in a transaction that occurred on Wednesday, June 4th. The shares were sold at an average price of $12.34, for a total transaction of $2,296,745.48. Following the completion of the sale, the executive vice president now owns 1,463,896 shares in the company, valued at $18,064,476.64. The trade was a 11.28% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 294,065 shares of company stock valued at $3,633,172 in the last ninety days. Insiders own 20.90% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms recently commented on ATEC. HC Wainwright reissued a “buy” rating and issued a $20.00 target price on shares of Alphatec in a report on Monday, April 14th. Wall Street Zen upgraded shares of Alphatec from a “sell” rating to a “hold” rating in a research report on Friday, February 28th. Lake Street Capital raised shares of Alphatec to a “buy” rating and set a $18.00 target price for the company in a report on Monday, June 16th. Needham & Company LLC reaffirmed a “buy” rating and issued a $16.00 target price on shares of Alphatec in a report on Friday, May 2nd. Finally, Piper Sandler reissued an “overweight” rating and set a $15.00 price objective (up from $13.00) on shares of Alphatec in a research note on Friday, May 2nd. Two investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to MarketBeat, Alphatec has a consensus rating of “Moderate Buy” and an average price target of $17.89.

Alphatec Stock Up 0.5%

Shares of NASDAQ ATEC opened at $10.94 on Friday. Alphatec Holdings, Inc. has a 52-week low of $4.88 and a 52-week high of $13.14. The firm has a fifty day moving average of $11.80 and a 200-day moving average of $10.84. The stock has a market capitalization of $1.60 billion, a PE ratio of -9.51 and a beta of 1.10.

Alphatec (NASDAQ:ATEC) last announced its quarterly earnings results on Thursday, May 1st. The medical technology company reported ($0.35) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.12) by ($0.23). The business had revenue of $169.18 million for the quarter, compared to analysts’ expectations of $167.57 million. Alphatec had a negative return on equity of 1,657.19% and a negative net margin of 25.77%. The firm’s revenue for the quarter was up 22.2% on a year-over-year basis. During the same period last year, the company posted ($0.34) earnings per share. Equities research analysts expect that Alphatec Holdings, Inc. will post -1.08 EPS for the current fiscal year.

Alphatec Company Profile

Alphatec Holdings, Inc, a medical technology company, designs, develops, and advances technologies for the surgical treatment of spinal disorders in the United States and internationally. It manufactures and sells implants and instruments through third-party suppliers. The company offers Alpha InformatiX product platform, including EOS imaging system that provides full-body imaging; VEA alignment mobile application, which leverages EOS technology to more quickly quantify alignment parameters on a mobile device; SafeOp Neural InformatiX System that automates electromyographic and somatosensory evoked potential monitoring; and Valence, an intra-operative system that integrates navigation and robotics into spine procedures, as well as Sigma Prone TransPsoas (PTP) Access and PTP Patient Positioning Systems.