Alphatec Holdings, Inc. $ATEC Stock Holdings Boosted by Arrowstreet Capital Limited Partnership

Key Points

• Arrowstreet Capital more than doubled its Alphatec stake in the first quarter, increasing holdings by 102.3% to 507,017 shares valued at approximately $5.5 million. Institutional investors collectively own 66.35% of ATEC.
• ATEC opened at $9.52, with a 52-week range of $6.82 to $23.29 and a market capitalization of about $1.46 billion. The stock remains below its 200-day moving average of $10.91.
• Analysts remain broadly positive despite significant price-target reductions: the stock has a “Moderate Buy” consensus rating and an average target of $17.13, compared with the current share price.

Arrowstreet Capital Limited Partnership grew its position in shares of Alphatec Holdings, Inc. (NASDAQ:ATEC - Free Report) by 102.3% during the 1st quarter, according to the company in its most recent filing with the SEC. The firm owned 507,017 shares of the medical technology company's stock after purchasing an additional 256,342 shares during the quarter. Arrowstreet Capital Limited Partnership owned 0.33% of Alphatec worth $5,516,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently modified their holdings of the company. Millennium Management LLC raised its position in Alphatec by 292.2% in the fourth quarter. Millennium Management LLC now owns 2,225,927 shares of the medical technology company's stock worth $46,834,000 after acquiring an additional 1,658,349 shares in the last quarter. Iron Triangle Partners LP purchased a new position in Alphatec in the 4th quarter worth about $27,051,000. Morgan Stanley raised its holdings in Alphatec by 22.0% during the 4th quarter. Morgan Stanley now owns 4,340,936 shares of the medical technology company's stock worth $91,333,000 after buying an additional 784,191 shares during the period. Tudor Investment Corp ET AL raised its holdings in Alphatec by 608.4% during the 3rd quarter. Tudor Investment Corp ET AL now owns 900,491 shares of the medical technology company's stock worth $13,093,000 after buying an additional 773,367 shares during the period. Finally, M&G PLC acquired a new stake in Alphatec during the 4th quarter valued at $14,055,000. Institutional investors own 66.35% of the company's stock.

Alphatec Price Performance

NASDAQ ATEC opened at $9.52 on Monday. Alphatec Holdings, Inc. has a fifty-two week low of $6.82 and a fifty-two week high of $23.29. The firm has a market cap of $1.46 billion, a P/E ratio of -11.61 and a beta of 0.85. The company has a debt-to-equity ratio of 40.35, a current ratio of 1.90 and a quick ratio of 1.12. The stock's 50-day moving average is $8.62 and its two-hundred day moving average is $10.91.

Insider Buying and Selling at Alphatec

In related news, Director Karen K. Mcginnis sold 6,050 shares of the stock in a transaction that occurred on Thursday, June 11th. The stock was sold at an average price of $8.01, for a total transaction of $48,460.50. Following the completion of the sale, the director owned 94,671 shares in the company, valued at $758,314.71. This represents a 6.01% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 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. Corporate insiders own 13.48% of the company's stock.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on ATEC. Piper Sandler reissued an "overweight" rating and issued a $14.00 price objective (down from $25.00) on shares of Alphatec in a research note on Wednesday, May 6th. JPMorgan Chase & Co. dropped their target price on Alphatec from $24.00 to $16.00 and set an "overweight" rating on the stock in a report on Wednesday, May 6th. Stifel Nicolaus reduced their price target on shares of Alphatec from $16.00 to $13.00 and set a "buy" rating for the company in a research report on Wednesday, July 8th. BMO Capital Markets began coverage on shares of Alphatec in a report on Wednesday, July 8th. They set an "outperform" rating and a $11.00 price target for the company. Finally, Wells Fargo & Company reduced their price objective on Alphatec from $28.00 to $14.00 and set an "overweight" rating for the company in a research report on Thursday, May 7th. One equities research analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $17.13.

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.

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