Assenagon Asset Management S.A. Raises Position in Alphatec Holdings, Inc. $ATEC

Assenagon Asset Management S.A. grew its stake in Alphatec Holdings, Inc. (NASDAQ:ATEC) by 30.4% during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 978,343 shares of the medical technology company’s stock after purchasing an additional 227,914 shares during the quarter. Assenagon Asset Management S.A. owned approximately 0.66% of Alphatec worth $20,584,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Aster Capital Management DIFC Ltd purchased a new position in shares of Alphatec in the 3rd quarter worth approximately $34,000. Osterweis Capital Management Inc. bought a new stake in shares of Alphatec during the 2nd quarter worth $37,000. China Universal Asset Management Co. Ltd. purchased a new position in shares of Alphatec in the 3rd quarter worth about $73,000. FNY Investment Advisers LLC bought a new position in Alphatec during the third quarter valued at about $74,000. Finally, State of Alaska Department of Revenue purchased a new stake in Alphatec during the third quarter worth about $120,000. 66.35% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research firms have weighed in on ATEC. Piper Sandler reiterated an “overweight” rating on shares of Alphatec in a research note on Wednesday, February 25th. Needham & Company LLC reaffirmed a “buy” rating and issued a $22.00 price target on shares of Alphatec in a report on Monday, January 12th. Weiss Ratings reiterated a “sell (e+)” rating on shares of Alphatec in a research note on Monday, December 29th. Barclays raised their target price on Alphatec from $23.00 to $27.00 and gave the stock an “overweight” rating in a research report on Wednesday, January 7th. Finally, HC Wainwright restated a “buy” rating and issued a $24.00 target price on shares of Alphatec in a research note on Monday, January 12th. One equities research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $22.82.

Alphatec Stock Up 0.3%

ATEC stock opened at $11.52 on Friday. The stock has a 50-day simple moving average of $13.76 and a two-hundred day simple moving average of $16.64. Alphatec Holdings, Inc. has a twelve month low of $8.81 and a twelve month high of $23.29. The firm has a market capitalization of $1.74 billion, a PE ratio of -12.13 and a beta of 1.02. The company has a quick ratio of 1.28, a current ratio of 2.06 and a debt-to-equity ratio of 40.35.

Alphatec (NASDAQ:ATEC) last announced its quarterly earnings results on Tuesday, February 24th. The medical technology company reported $0.06 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.04 by $0.02. The firm had revenue of $212.93 million during the quarter, compared to analysts’ expectations of $212.67 million. The company’s quarterly revenue was up 20.4% compared to the same quarter last year. During the same period in the previous year, the company posted ($0.23) earnings per share. On average, equities analysts predict that Alphatec Holdings, Inc. will post -1.08 EPS for the current fiscal year.

Insider Activity

In related news, General Counsel Tyson Eliot Marshall sold 88,835 shares of Alphatec stock in a transaction on Thursday, March 5th. The stock was sold at an average price of $12.49, for a total transaction of $1,109,549.15. Following the completion of the sale, the general counsel owned 559,459 shares of the company’s stock, valued at approximately $6,987,642.91. This trade represents a 13.70% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Craig E. Hunsaker sold 82,765 shares of the business’s stock in a transaction dated Monday, March 9th. The stock was sold at an average price of $12.45, for a total value of $1,030,424.25. Following the transaction, the executive vice president owned 1,726,209 shares of the company’s stock, valued at approximately $21,491,302.05. The trade was a 4.58% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last three months, insiders sold 826,972 shares of company stock worth $11,285,386. Company insiders own 20.90% of the company’s stock.

Alphatec 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.