Assenagon Asset Management S.A. Purchases 739,982 Shares of Alphatec Holdings, Inc. $ATEC

Assenagon Asset Management S.A. lifted its position in Alphatec Holdings, Inc. (NASDAQ:ATEC) by 7,083.2% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 750,429 shares of the medical technology company’s stock after buying an additional 739,982 shares during the period. Assenagon Asset Management S.A. owned about 0.51% of Alphatec worth $10,911,000 as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in the business. Osterweis Capital Management Inc. bought a new position in Alphatec during the second quarter worth about $37,000. Nisa Investment Advisors LLC raised its position in shares of Alphatec by 22.4% during the second quarter. Nisa Investment Advisors LLC now owns 5,714 shares of the medical technology company’s stock worth $63,000 after purchasing an additional 1,045 shares during the period. FORA Capital LLC acquired a new stake in shares of Alphatec during the first quarter worth about $102,000. PKS Advisory Services LLC bought a new position in shares of Alphatec during the 1st quarter valued at about $111,000. Finally, R Squared Ltd acquired a new position in shares of Alphatec in the 2nd quarter valued at approximately $114,000. Institutional investors and hedge funds own 66.35% of the company’s stock.

Alphatec Stock Performance

Shares of ATEC opened at $20.01 on Friday. The stock has a market capitalization of $2.97 billion, a price-to-earnings ratio of -19.24 and a beta of 1.08. Alphatec Holdings, Inc. has a 12 month low of $8.70 and a 12 month high of $22.66. The firm has a fifty day simple moving average of $19.04 and a 200 day simple moving average of $15.36. The company has a current ratio of 1.99, a quick ratio of 1.24 and a debt-to-equity ratio of 43.02.

Alphatec (NASDAQ:ATEC) last issued its quarterly earnings results on Thursday, October 30th. The medical technology company reported $0.03 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.06) by $0.09. The business had revenue of $196.50 million during the quarter, compared to analyst estimates of $182.78 million. During the same quarter in the previous year, the firm posted ($0.28) earnings per share. The firm’s quarterly revenue was up 30.4% on a year-over-year basis. Research analysts forecast that Alphatec Holdings, Inc. will post -1.08 EPS for the current fiscal year.

Insiders Place Their Bets

In other Alphatec news, Director David R. Pelizzon sold 250,000 shares of the business’s stock in a transaction that occurred on Tuesday, December 16th. The stock was sold at an average price of $19.66, for a total transaction of $4,915,000.00. Following the transaction, the director owned 10,395,045 shares of the company’s stock, valued at $204,366,584.70. The trade was a 2.35% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Craig E. Hunsaker sold 32,584 shares of the company’s stock in a transaction that occurred on Wednesday, December 10th. The stock was sold at an average price of $20.84, for a total value of $679,050.56. Following the sale, the executive vice president owned 1,256,558 shares in the company, valued at approximately $26,186,668.72. This represents a 2.53% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 3,403,342 shares of company stock valued at $69,111,381 in the last quarter. 20.90% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on the company. Weiss Ratings reissued a “sell (e+)” rating on shares of Alphatec in a research note on Monday, December 15th. Piper Sandler reissued an “overweight” rating and set a $25.00 price objective (up previously from $20.00) on shares of Alphatec in a research report on Friday, October 31st. Loop Capital set a $25.00 price objective on shares of Alphatec in a report on Wednesday, December 10th. Morgan Stanley set a $23.00 price objective on shares of Alphatec in a research report on Tuesday, December 2nd. Finally, Wells Fargo & Company increased their target price on Alphatec from $14.00 to $16.00 and gave the stock an “overweight” rating in a report on Thursday, October 16th. Nine analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, Alphatec presently has a consensus rating of “Moderate Buy” and a consensus price target of $22.45.

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.