Healthcare of Ontario Pension Plan Trust Fund Cuts Stock Holdings in Alphatec Holdings, Inc. $ATEC

Key Points

• Healthcare of Ontario Pension Plan Trust Fund cut its Alphatec stake by 88.1% in the first quarter, selling 178,839 shares and retaining 24,161 shares valued at approximately $263,000.
• Alphatec shares opened at $9.52, with a 52-week range of $6.82 to $23.29 and a market capitalization of about $1.46 billion. Institutional investors own 66.35% of the stock.
• Analysts remain broadly positive, with a consensus “Moderate Buy” rating and a $17.13 average price target, although several firms recently lowered their targets.

Healthcare of Ontario Pension Plan Trust Fund reduced its position in Alphatec Holdings, Inc. (NASDAQ:ATEC - Free Report) by 88.1% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 24,161 shares of the medical technology company's stock after selling 178,839 shares during the period. Healthcare of Ontario Pension Plan Trust Fund's holdings in Alphatec were worth $263,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently added to or reduced their stakes in the company. Summit Securities Group LLC acquired a new stake in Alphatec during the first quarter valued at $29,000. Osterweis Capital Management Inc. acquired a new position in shares of Alphatec in the second quarter worth about $37,000. Northwestern Mutual Wealth Management Co. boosted its stake 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 acquiring an additional 1,571 shares in the last quarter. Lido Advisors LLC purchased a new stake in shares of Alphatec during the 1st quarter worth about $115,000. Finally, State of Wyoming acquired a new stake in shares of Alphatec during the 2nd quarter valued at about $124,000. 66.35% of the stock is owned by hedge funds and other institutional investors.

Alphatec Stock Performance

Alphatec stock opened at $9.52 on Monday. The firm has a 50 day simple moving average of $8.62 and a 200-day simple moving average of $10.91. 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 has a market cap of $1.46 billion, a price-to-earnings ratio of -11.61 and a beta of 0.85. Alphatec Holdings, Inc. has a 1-year low of $6.82 and a 1-year high of $23.29.

Analyst Ratings Changes

Several equities analysts recently weighed in on the company. Piper Sandler restated an "overweight" rating and issued a $14.00 price target (down from $25.00) on shares of Alphatec in a research note on Wednesday, May 6th. Weiss Ratings raised Alphatec from a "sell (e+)" rating to a "sell (d-)" rating in a report on Wednesday, May 6th. Barclays cut their price objective on Alphatec from $27.00 to $24.00 and set an "overweight" rating for the company in a research report on Thursday, May 7th. BMO Capital Markets assumed coverage on Alphatec in a research note on Wednesday, July 8th. They set an "outperform" rating and a $11.00 target price for the company. Finally, Stifel Nicolaus decreased their price target on shares of Alphatec from $16.00 to $13.00 and set a "buy" rating on the stock in a research note on Wednesday, July 8th. One analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $17.13.

Insider Buying and Selling at Alphatec

In other news, Director Karen K. Mcginnis sold 6,050 shares of the stock in a transaction 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 transaction, the director directly owned 94,671 shares in the company, valued at approximately $758,314.71. This represents a 6.01% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 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.

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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