Sei Investments Co. Grows Stock Position in Alphatec Holdings, Inc. $ATEC

Sei Investments Co. raised its position in Alphatec Holdings, Inc. (NASDAQ:ATEC) by 62.2% during the 1st quarter, HoldingsChannel.com reports. The institutional investor owned 598,003 shares of the medical technology company’s stock after acquiring an additional 229,238 shares during the period. Sei Investments Co.’s holdings in Alphatec were worth $6,506,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently made changes to their positions in the company. Summit Securities Group LLC bought a new position in shares of Alphatec during the 1st quarter worth $29,000. Osterweis Capital Management Inc. bought a new stake in Alphatec in the 2nd quarter valued at about $37,000. Northwestern Mutual Wealth Management Co. raised its stake in Alphatec by 157.1% in the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 2,571 shares of the medical technology company’s stock valued at $54,000 after acquiring an additional 1,571 shares during the period. Lido Advisors LLC purchased a new stake in Alphatec during the first quarter valued at about $115,000. Finally, State of Wyoming purchased a new stake in Alphatec during the second quarter valued at about $124,000. Hedge funds and other institutional investors own 66.35% of the company’s stock.

Analyst Ratings Changes

ATEC has been the subject of a number of research reports. BMO Capital Markets initiated coverage on shares of Alphatec in a research report on Wednesday, July 8th. They set an “outperform” rating and a $11.00 target price for the company. Weiss Ratings upgraded shares of Alphatec from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Wednesday, May 6th. TD Cowen cut their price objective on shares of Alphatec from $20.00 to $11.00 and set a “buy” rating for the company in a report on Wednesday, May 6th. Lake Street Capital reiterated a “buy” rating and issued a $15.00 price objective on shares of Alphatec in a research note on Wednesday, May 6th. Finally, Needham & Company LLC dropped their target price on Alphatec from $25.00 to $14.00 and set a “buy” rating on the stock in a research report on Wednesday, May 6th. One analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $17.13.

Alphatec Stock Performance

NASDAQ ATEC opened at $10.15 on Tuesday. The company’s 50 day simple moving average is $8.66 and its two-hundred day simple moving average is $10.87. The company has a debt-to-equity ratio of 40.35, a current ratio of 1.90 and a quick ratio of 1.12. Alphatec Holdings, Inc. has a 1 year low of $6.82 and a 1 year high of $23.29. The stock has a market capitalization of $1.56 billion, a PE ratio of -12.38 and a beta of 0.85.

Insider Buying and Selling at Alphatec

In related 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 value of $48,460.50. Following the sale, the director owned 94,671 shares in the company, valued at approximately $758,314.71. This trade represents a 6.01% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible 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. Insiders own 13.48% of the company’s stock.

Alphatec Company 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.