American Century Companies Inc. Boosts Stock Position in Alphatec Holdings, Inc. $ATEC

American Century Companies Inc. lifted its stake in Alphatec Holdings, Inc. (NASDAQ:ATEC) by 2.6% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 6,336,491 shares of the medical technology company’s stock after acquiring an additional 159,330 shares during the period. American Century Companies Inc. owned approximately 4.27% of Alphatec worth $92,133,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in the stock. Granite Investment Partners LLC lifted its holdings in Alphatec by 320.6% during the 2nd quarter. Granite Investment Partners LLC now owns 1,720,944 shares of the medical technology company’s stock worth $19,102,000 after purchasing an additional 1,311,748 shares in the last quarter. Assenagon Asset Management S.A. increased its position in shares of Alphatec by 7,083.2% during the third quarter. Assenagon Asset Management S.A. now owns 750,429 shares of the medical technology company’s stock valued at $10,911,000 after buying an additional 739,982 shares during the period. Bank of Montreal Can increased its position in shares of Alphatec by 545.7% during the second quarter. Bank of Montreal Can now owns 743,041 shares of the medical technology company’s stock valued at $8,248,000 after buying an additional 627,973 shares during the period. Balyasny Asset Management L.P. lifted its holdings in shares of Alphatec by 173.1% in the second quarter. Balyasny Asset Management L.P. now owns 719,469 shares of the medical technology company’s stock worth $7,986,000 after buying an additional 456,063 shares in the last quarter. Finally, Jump Financial LLC boosted its position in shares of Alphatec by 200.0% in the second quarter. Jump Financial LLC now owns 609,773 shares of the medical technology company’s stock valued at $6,768,000 after acquiring an additional 406,489 shares during the period. 66.35% of the stock is currently owned by hedge funds and other institutional investors.

Alphatec Stock Performance

Shares of NASDAQ ATEC opened at $13.02 on Wednesday. The stock’s 50-day moving average is $16.43 and its 200 day moving average is $17.08. The stock has a market cap of $1.97 billion, a price-to-earnings ratio of -13.71 and a beta of 1.02. Alphatec Holdings, Inc. has a 1-year low of $8.81 and a 1-year high of $23.29. The company has a current ratio of 2.06, a quick ratio of 1.28 and a debt-to-equity ratio of 40.35.

Alphatec (NASDAQ:ATEC) last issued its quarterly earnings results on Tuesday, February 24th. The medical technology company reported $0.06 EPS for the quarter, beating analysts’ consensus estimates of $0.04 by $0.02. The business had revenue of $212.93 million for the quarter, compared to the consensus estimate of $212.67 million. The firm’s revenue was up 20.4% on a year-over-year basis. During the same quarter in the previous year, the business earned ($0.23) earnings per share. On average, sell-side analysts anticipate that Alphatec Holdings, Inc. will post -1.08 EPS for the current fiscal year.

Insider Activity at Alphatec

In other news, CEO Patrick Miles sold 100,000 shares of Alphatec stock in a transaction dated Monday, January 5th. The stock was sold at an average price of $21.01, for a total value of $2,101,000.00. Following the transaction, the chief executive officer owned 5,135,398 shares in the company, valued at approximately $107,894,711.98. The trade was a 1.91% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, major shareholder Squadron Capital Llc sold 221,166 shares of the business’s stock in a transaction dated Monday, December 8th. The shares were sold at an average price of $21.20, for a total value of $4,688,719.20. Following the completion of the sale, the insider directly owned 10,673,879 shares of the company’s stock, valued at approximately $226,286,234.80. This trade represents a 2.03% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 1,336,125 shares of company stock worth $27,174,878 in the last 90 days. Corporate insiders own 22.80% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have issued reports on ATEC shares. Wall Street Zen upgraded shares of Alphatec from a “hold” rating to a “buy” rating in a research note on Saturday, January 31st. Morgan Stanley set a $23.00 price objective on Alphatec in a research report on Tuesday, December 2nd. Needham & Company LLC reissued a “buy” rating and set a $22.00 price objective on shares of Alphatec in a research note on Monday, January 12th. Barclays upped their target price on Alphatec from $23.00 to $27.00 and gave the stock an “overweight” rating in a research note on Wednesday, January 7th. Finally, Lake Street Capital reiterated a “buy” rating on shares of Alphatec in a research report on Wednesday, February 25th. Ten investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $22.82.

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.