Assenagon Asset Management S.A. Trims Stake in Alphatec Holdings, Inc. (NASDAQ:ATEC)

Assenagon Asset Management S.A. lessened its position in shares of Alphatec Holdings, Inc. (NASDAQ:ATEC) by 81.8% during the first quarter, HoldingsChannel reports. The institutional investor owned 31,905 shares of the medical technology company’s stock after selling 143,345 shares during the quarter. Assenagon Asset Management S.A.’s holdings in Alphatec were worth $440,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also modified their holdings of the company. Cerity Partners LLC acquired a new position in Alphatec in the 4th quarter valued at about $28,451,000. Vanguard Group Inc. lifted its holdings in shares of Alphatec by 1.8% during the third quarter. Vanguard Group Inc. now owns 4,615,223 shares of the medical technology company’s stock worth $59,859,000 after purchasing an additional 80,101 shares during the period. American Century Companies Inc. grew its position in Alphatec by 24.5% in the 3rd quarter. American Century Companies Inc. now owns 2,655,328 shares of the medical technology company’s stock valued at $34,440,000 after buying an additional 523,323 shares during the last quarter. abrdn plc increased its stake in Alphatec by 276.7% in the 3rd quarter. abrdn plc now owns 1,382,770 shares of the medical technology company’s stock valued at $17,935,000 after buying an additional 1,015,668 shares during the period. Finally, Connor Clark & Lunn Investment Management Ltd. raised its position in Alphatec by 77.3% during the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 461,511 shares of the medical technology company’s stock worth $5,986,000 after buying an additional 201,249 shares during the last quarter. 66.35% of the stock is owned by institutional investors and hedge funds.

Alphatec Price Performance

NASDAQ:ATEC traded up $0.08 during trading hours on Wednesday, reaching $10.76. 807,828 shares of the company traded hands, compared to its average volume of 1,685,668. Alphatec Holdings, Inc. has a 1-year low of $8.66 and a 1-year high of $19.14. The stock has a market cap of $1.51 billion, a P/E ratio of -7.22 and a beta of 1.48. The firm’s 50-day moving average is $12.83 and its 200-day moving average is $13.60. The company has a debt-to-equity ratio of 13.63, a current ratio of 2.39 and a quick ratio of 1.49.

Alphatec (NASDAQ:ATEC) last posted its quarterly earnings data on Tuesday, May 7th. The medical technology company reported ($0.34) EPS for the quarter, missing analysts’ consensus estimates of ($0.33) by ($0.01). The company had revenue of $138.48 million for the quarter, compared to analysts’ expectations of $134.07 million. Alphatec had a negative return on equity of 1,767.81% and a negative net margin of 37.45%. The company’s revenue for the quarter was up 26.9% compared to the same quarter last year. During the same quarter in the prior year, the business posted ($0.40) EPS. Equities research analysts expect that Alphatec Holdings, Inc. will post -1.05 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on the stock. Needham & Company LLC reiterated a “buy” rating and set a $23.00 price target on shares of Alphatec in a research note on Wednesday, May 8th. Piper Sandler dropped their target price on Alphatec from $19.00 to $17.00 and set an “overweight” rating on the stock in a research report on Wednesday, May 8th. HC Wainwright reissued a “buy” rating and issued a $20.00 price target on shares of Alphatec in a report on Monday, March 4th. Wells Fargo & Company initiated coverage on shares of Alphatec in a research report on Friday, February 9th. They set an “overweight” rating and a $26.00 target price on the stock. Finally, Canaccord Genuity Group reiterated a “buy” rating and issued a $25.00 price target on shares of Alphatec in a report on Wednesday, March 20th. One investment analyst has rated the stock with a sell rating and eight have assigned a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $22.89.

Insider Transactions at Alphatec

In related news, EVP Craig E. Hunsaker sold 41,560 shares of the company’s stock in a transaction that occurred on Monday, February 26th. The shares were sold at an average price of $15.05, for a total transaction of $625,478.00. Following the transaction, the executive vice president now owns 1,188,444 shares of the company’s stock, valued at $17,886,082.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In related news, EVP Craig E. Hunsaker sold 41,560 shares of the stock in a transaction dated Monday, February 26th. The stock was sold at an average price of $15.05, for a total transaction of $625,478.00. Following the transaction, the executive vice president now directly owns 1,188,444 shares in the company, valued at $17,886,082.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO John Todd Koning sold 37,500 shares of Alphatec stock in a transaction dated Wednesday, April 24th. The shares were sold at an average price of $12.82, for a total value of $480,750.00. Following the completion of the sale, the chief financial officer now owns 393,356 shares of the company’s stock, valued at approximately $5,042,823.92. The disclosure for this sale can be found here. Insiders sold a total of 252,786 shares of company stock worth $3,474,224 over the last ninety days. 22.80% of the stock is currently owned by corporate insiders.

Alphatec Profile

Alphatec Holdings, Inc, a medical technology company, designs, develops, and advances technologies for the surgical treatment of spinal disorders in the United States and internationally. It manufactures and sells implants and instruments through third-party suppliers. The company offers Alpha InformatiX product platform, including EOS imaging system that provides full-body imaging; VEA alignment mobile application, which leverages EOS technology to more quickly quantify alignment parameters on a mobile device; SafeOp Neural InformatiX System that automates electromyographic and somatosensory evoked potential monitoring; and Valence, an intra-operative system that integrates navigation and robotics into spine procedures, as well as Sigma Prone TransPsoas (PTP) Access and PTP Patient Positioning Systems.