Y Intercept Hong Kong Ltd Increases Position in Alphatec Holdings, Inc. $ATEC

Y Intercept Hong Kong Ltd grew its position in shares of Alphatec Holdings, Inc. (NASDAQ:ATEC) by 119.2% during the first quarter, Holdings Channel reports. The firm owned 165,179 shares of the medical technology company’s stock after acquiring an additional 89,814 shares during the quarter. Y Intercept Hong Kong Ltd’s holdings in Alphatec were worth $1,797,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. Tudor Investment Corp ET AL grew its position in Alphatec by 608.4% in the 3rd quarter. Tudor Investment Corp ET AL now owns 900,491 shares of the medical technology company’s stock valued at $13,093,000 after acquiring an additional 773,367 shares in the last quarter. Universal Beteiligungs und Servicegesellschaft mbH acquired a new stake in shares of Alphatec during the fourth quarter worth about $3,691,000. Aberdeen Group plc lifted its position in shares of Alphatec by 29.7% during the fourth quarter. Aberdeen Group plc now owns 1,286,195 shares of the medical technology company’s stock worth $27,062,000 after purchasing an additional 294,792 shares in the last quarter. Pier Capital LLC purchased a new position in shares of Alphatec in the fourth quarter valued at approximately $4,835,000. Finally, Assenagon Asset Management S.A. boosted its stake in shares of Alphatec by 30.4% in the fourth quarter. Assenagon Asset Management S.A. now owns 978,343 shares of the medical technology company’s stock valued at $20,584,000 after purchasing an additional 227,914 shares during the period. 66.35% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on ATEC shares. Needham & Company LLC cut their target price on shares of Alphatec from $25.00 to $14.00 and set a “buy” rating on the stock in a research note on Wednesday, May 6th. BMO Capital Markets assumed coverage on shares of Alphatec in a research report on Wednesday. They issued an “outperform” rating and a $11.00 price target for the company. Barclays dropped their price target on shares of Alphatec from $27.00 to $24.00 and set an “overweight” rating for the company in a research note on Thursday, May 7th. Piper Sandler reaffirmed an “overweight” rating and set a $14.00 price objective (down from $25.00) on shares of Alphatec in a research report on Wednesday, May 6th. Finally, Weiss Ratings upgraded Alphatec from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Wednesday, May 6th. One investment analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $17.46.

Alphatec Stock Up 3.3%

Shares of Alphatec stock opened at $9.51 on Friday. Alphatec Holdings, Inc. has a 52-week low of $6.82 and a 52-week high of $23.29. The company has a 50 day moving average of $8.36 and a 200 day moving average of $12.28. The company has a quick ratio of 1.12, a current ratio of 1.90 and a debt-to-equity ratio of 40.35. The company has a market capitalization of $1.46 billion, a P/E ratio of -11.60 and a beta of 0.85.

Insider Activity at Alphatec

In other news, Director Karen K. Mcginnis sold 6,050 shares of the firm’s stock in a transaction on Thursday, June 11th. The shares were sold at an average price of $8.01, for a total value of $48,460.50. Following the sale, the director directly owned 94,671 shares in the company, valued at approximately $758,314.71. This trade represents a 6.01% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed 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.

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.