OP Asset Management Ltd Buys New Holdings in Alphatec Holdings, Inc. $ATEC

OP Asset Management Ltd purchased a new stake in shares of Alphatec Holdings, Inc. (NASDAQ:ATEC) in the first quarter, HoldingsChannel.com reports. The firm purchased 162,052 shares of the medical technology company’s stock, valued at approximately $1,763,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in ATEC. Aster Capital Management DIFC Ltd purchased a new position in shares of Alphatec in the 3rd quarter worth about $34,000. Osterweis Capital Management Inc. purchased a new stake in shares of Alphatec during the 2nd quarter worth about $37,000. Northwestern Mutual Wealth Management Co. grew its holdings in shares of Alphatec by 157.1% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 2,571 shares of the medical technology company’s stock worth $54,000 after purchasing an additional 1,571 shares during the period. FNY Investment Advisers LLC acquired a new stake in Alphatec during the 3rd quarter worth approximately $74,000. Finally, State of Wyoming acquired a new stake in Alphatec during the 2nd quarter worth approximately $124,000. 66.35% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Alphatec news, Director Karen K. Mcginnis sold 6,050 shares of the business’s stock in a transaction on Thursday, June 11th. The shares were sold at an average price of $8.01, for a total value of $48,460.50. Following the transaction, the director owned 94,671 shares in the company, valued at $758,314.71. The trade was a 6.01% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. 13.48% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several research firms have issued reports on ATEC. Barclays decreased their price objective on shares of Alphatec from $27.00 to $24.00 and set an “overweight” rating for the company in a research note on Thursday, May 7th. Needham & Company LLC reduced their target price on shares of Alphatec from $25.00 to $14.00 and set a “buy” rating on the stock in a report on Wednesday, May 6th. HC Wainwright reaffirmed a “buy” rating and set a $24.00 price target on shares of Alphatec in a research report on Thursday, May 7th. Wells Fargo & Company lowered their price target on Alphatec from $28.00 to $14.00 and set an “overweight” rating for the company in a report on Thursday, May 7th. Finally, Lake Street Capital reissued a “buy” rating and issued a $15.00 price objective on shares of Alphatec in a research report on Wednesday, May 6th. Ten investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $18.58.

Alphatec Price Performance

Shares of ATEC stock opened at $9.30 on Monday. The firm has a fifty day simple moving average of $8.62 and a 200-day simple moving average of $12.97. The company has a market capitalization of $1.43 billion, a PE ratio of -11.34 and a beta of 0.88. Alphatec Holdings, Inc. has a twelve month low of $6.82 and a twelve month high of $23.29. The company has a current ratio of 1.90, a quick ratio of 1.12 and a debt-to-equity ratio of 40.35.

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.