64,896 Shares in Alphatec Holdings, Inc. $ATEC Acquired by Principal Financial Group Inc.

Principal Financial Group Inc. acquired a new stake in shares of Alphatec Holdings, Inc. (NASDAQ:ATEC) in the third quarter, according to the company in its most recent 13F filing with the SEC. The fund acquired 64,896 shares of the medical technology company’s stock, valued at approximately $944,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of ATEC. Osterweis Capital Management Inc. bought a new stake in shares of Alphatec during the second quarter worth $37,000. Nisa Investment Advisors LLC increased its stake in Alphatec by 22.4% in the 2nd quarter. Nisa Investment Advisors LLC now owns 5,714 shares of the medical technology company’s stock worth $63,000 after buying an additional 1,045 shares during the period. R Squared Ltd bought a new stake in Alphatec during the 2nd quarter valued at about $114,000. State of Alaska Department of Revenue purchased a new stake in Alphatec in the 3rd quarter valued at about $120,000. Finally, State of Wyoming bought a new position in Alphatec in the 2nd quarter worth about $124,000. Hedge funds and other institutional investors own 66.35% of the company’s stock.

Alphatec Price Performance

ATEC opened at $13.54 on Thursday. The firm has a market capitalization of $2.01 billion, a PE ratio of -13.02 and a beta of 1.01. The company has a debt-to-equity ratio of 43.02, a current ratio of 1.99 and a quick ratio of 1.24. The business’s 50-day moving average is $17.61 and its two-hundred day moving average is $17.18. Alphatec Holdings, Inc. has a 1 year low of $8.81 and a 1 year high of $23.29.

Analyst Ratings Changes

Several analysts have recently weighed in on ATEC shares. Wall Street Zen raised shares of Alphatec from a “hold” rating to a “buy” rating in a research note on Saturday, January 31st. Loop Capital set a $25.00 target price on Alphatec in a research report on Wednesday, December 10th. TD Cowen reissued a “buy” rating on shares of Alphatec in a research report on Tuesday, January 27th. Needham & Company LLC restated a “buy” rating and set a $22.00 price target on shares of Alphatec in a research note on Monday, January 12th. Finally, Canaccord Genuity Group upped their price objective on shares of Alphatec from $20.00 to $25.00 and gave the stock a “buy” rating in a research note on Friday, October 31st. Ten analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $22.82.

Insider Transactions at Alphatec

In other news, major shareholder Squadron Capital Llc sold 250,000 shares of the company’s stock in a transaction on Monday, November 24th. The stock was sold at an average price of $20.62, for a total transaction of $5,155,000.00. Following the transaction, the insider directly owned 10,895,045 shares of the company’s stock, valued at approximately $224,655,827.90. This represents a 2.24% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director David R. Pelizzon sold 250,000 shares of the firm’s stock in a transaction on Monday, November 24th. The stock was sold at an average price of $20.62, for a total value of $5,155,000.00. Following the completion of the sale, the director directly owned 10,895,045 shares of the company’s stock, valued at $224,655,827.90. The trade was a 2.24% decrease in their position. The SEC filing for this sale provides additional information. Over the last 90 days, insiders have sold 2,186,125 shares of company stock worth $44,850,878. 20.90% of the stock is owned by corporate insiders.

Alphatec Company Profile

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.