Y Intercept Hong Kong Ltd Makes New $1.69 Million Investment in Alphatec Holdings, Inc. $ATEC

Y Intercept Hong Kong Ltd acquired a new stake in shares of Alphatec Holdings, Inc. (NASDAQ:ATEC) in the third quarter, HoldingsChannel.com reports. The fund acquired 116,106 shares of the medical technology company’s stock, valued at approximately $1,688,000.

Several other institutional investors and hedge funds have also recently made changes to their positions in ATEC. American Century Companies Inc. increased its stake in shares of Alphatec by 6.0% in the second quarter. American Century Companies Inc. now owns 6,177,161 shares of the medical technology company’s stock worth $68,567,000 after buying an additional 347,130 shares during the period. Geode Capital Management LLC grew its holdings in Alphatec by 7.4% in the 2nd quarter. Geode Capital Management LLC now owns 2,697,541 shares of the medical technology company’s stock worth $29,946,000 after acquiring an additional 185,297 shares during the last quarter. Next Century Growth Investors LLC increased its position in shares of Alphatec by 22.8% in the second quarter. Next Century Growth Investors LLC now owns 2,060,735 shares of the medical technology company’s stock valued at $22,874,000 after acquiring an additional 382,057 shares during the period. Granite Investment Partners LLC raised its stake in shares of Alphatec by 320.6% during the second quarter. Granite Investment Partners LLC now owns 1,720,944 shares of the medical technology company’s stock valued at $19,102,000 after acquiring an additional 1,311,748 shares during the last quarter. Finally, Emerald Advisers LLC boosted its holdings in shares of Alphatec by 3.8% during the second quarter. Emerald Advisers LLC now owns 1,684,334 shares of the medical technology company’s stock worth $18,696,000 after purchasing an additional 60,885 shares during the period. Institutional investors own 66.35% of the company’s stock.

Alphatec Stock Down 2.7%

NASDAQ:ATEC opened at $14.85 on Friday. The company has a debt-to-equity ratio of 43.02, a current ratio of 1.99 and a quick ratio of 1.24. The firm’s 50-day moving average price is $19.76 and its 200-day moving average price is $16.86. The company has a market capitalization of $2.21 billion, a PE ratio of -14.28 and a beta of 1.01. Alphatec Holdings, Inc. has a 1-year low of $8.81 and a 1-year high of $23.29.

Alphatec (NASDAQ:ATEC) last posted its quarterly earnings data on Thursday, October 30th. The medical technology company reported $0.03 EPS for the quarter, topping the consensus estimate of ($0.06) by $0.09. The business had revenue of $196.50 million for the quarter, compared to the consensus estimate of $182.78 million. The company’s revenue was up 30.4% on a year-over-year basis. During the same period in the previous year, the firm earned ($0.28) EPS. On average, equities analysts predict that Alphatec Holdings, Inc. will post -1.08 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of brokerages recently issued reports on ATEC. Piper Sandler restated an “overweight” rating and set a $25.00 price target (up previously from $20.00) on shares of Alphatec in a report on Friday, October 31st. JPMorgan Chase & Co. assumed coverage on Alphatec in a research note on Friday, October 24th. They set an “overweight” rating and a $19.00 target price on the stock. Lake Street Capital set a $25.00 price target on Alphatec and gave the stock a “buy” rating in a research note on Friday, October 31st. Stifel Nicolaus started coverage on shares of Alphatec in a research report on Tuesday, October 28th. They set a “buy” rating and a $20.00 price objective on the stock. Finally, Wall Street Zen lowered shares of Alphatec from a “buy” rating to a “hold” rating in a report on Friday, January 23rd. Ten analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $22.82.

Insider Transactions at Alphatec

In other Alphatec news, Director David R. Pelizzon sold 250,000 shares of Alphatec stock in a transaction on Tuesday, December 16th. The stock was sold at an average price of $19.66, for a total transaction of $4,915,000.00. Following the completion of the transaction, the director owned 10,395,045 shares in the company, valued at approximately $204,366,584.70. The trade was a 2.35% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, COO Scott Lish sold 19,900 shares of the stock in a transaction on Tuesday, December 16th. The stock was sold at an average price of $19.64, for a total value of $390,836.00. Following the completion of the sale, the chief operating officer directly owned 641,432 shares in the company, valued at approximately $12,597,724.48. This represents a 3.01% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders sold 3,233,342 shares of company stock worth $66,688,781. Company insiders own 20.90% of the company’s stock.

About Alphatec

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.