Sei Investments Co. Buys 229,238 Shares of Alphatec Holdings, Inc. $ATEC

Key Points

• Sei Investments increased its Alphatec stake by 62.2% in the first quarter, purchasing 229,238 additional shares and bringing its total holdings to 598,003 shares valued at approximately $6.5 million.
• Institutional investors own 66.35% of Alphatec, while the stock recently traded at $10.15, near the midpoint of its $6.82–$23.29 52-week range.
• Analysts maintain a generally positive outlook, with a “Moderate Buy” consensus and an average price target of $17.13, although several firms recently reduced their targets.

Sei Investments Co. lifted its stake in shares of Alphatec Holdings, Inc. (NASDAQ:ATEC - Free Report) by 62.2% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 598,003 shares of the medical technology company's stock after buying an additional 229,238 shares during the period. Sei Investments Co. owned about 0.39% of Alphatec worth $6,506,000 at the end of the most recent quarter.

Other institutional investors have also bought and sold shares of the company. Creative Planning raised its position in Alphatec by 0.9% in the 3rd quarter. Creative Planning now owns 58,654 shares of the medical technology company's stock valued at $853,000 after buying an additional 534 shares during the last quarter. Great Lakes Advisors LLC boosted its holdings in Alphatec by 0.4% during the 4th quarter. Great Lakes Advisors LLC now owns 278,717 shares of the medical technology company's stock worth $5,864,000 after acquiring an additional 1,226 shares during the last quarter. Franklin Resources Inc. grew its stake in shares of Alphatec by 2.0% in the 4th quarter. Franklin Resources Inc. now owns 64,774 shares of the medical technology company's stock worth $1,363,000 after acquiring an additional 1,299 shares in the last quarter. Oppenheimer Asset Management Inc. grew its stake in shares of Alphatec by 9.9% in the 4th quarter. Oppenheimer Asset Management Inc. now owns 15,075 shares of the medical technology company's stock worth $317,000 after acquiring an additional 1,353 shares in the last quarter. Finally, Northwestern Mutual Wealth Management Co. raised its holdings in shares of Alphatec by 157.1% in the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 2,571 shares of the medical technology company's stock valued at $54,000 after purchasing an additional 1,571 shares during the last quarter. Institutional investors own 66.35% of the company's stock.

Alphatec Price Performance

Shares of NASDAQ:ATEC opened at $10.15 on Tuesday. The company has a market capitalization of $1.56 billion, a P/E ratio of -12.38 and a beta of 0.85. The company's 50-day moving average is $8.66 and its 200 day moving average is $10.87. The company has a debt-to-equity ratio of 40.35, a quick ratio of 1.12 and a current ratio of 1.90. Alphatec Holdings, Inc. has a fifty-two week low of $6.82 and a fifty-two week high of $23.29.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on ATEC. TD Cowen dropped their price target on shares of Alphatec from $20.00 to $11.00 and set a "buy" rating on the stock in a research report on Wednesday, May 6th. Wells Fargo & Company reduced their price objective on shares of Alphatec from $28.00 to $14.00 and set an "overweight" rating for the company in a research report on Thursday, May 7th. Wall Street Zen lowered shares of Alphatec from a "buy" rating to a "hold" rating in a research note on Sunday, July 12th. HC Wainwright reissued a "buy" rating and set a $24.00 target price on shares of Alphatec in a research report on Thursday, May 7th. Finally, Stifel Nicolaus cut their target price on Alphatec from $16.00 to $13.00 and set a "buy" rating on the stock in a research note on Wednesday, July 8th. One equities research analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $17.13.

Insider Buying and Selling

In other Alphatec news, Director Karen K. Mcginnis sold 6,050 shares of the business's stock in a transaction dated 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 directly owned 94,671 shares in the company, valued at $758,314.71. The trade was a 6.01% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, 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. 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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