Kornitzer Capital Management Inc. KS Acquires New Stake in Alphatec Holdings, Inc. $ATEC

Kornitzer Capital Management Inc. KS bought a new position in Alphatec Holdings, Inc. (NASDAQ:ATEC) in the first quarter, Holdings Channel.com reports. The fund bought 100,000 shares of the medical technology company’s stock, valued at approximately $1,088,000.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Summit Securities Group LLC bought a new stake in shares of Alphatec in the 1st quarter worth $29,000. Osterweis Capital Management Inc. acquired a new position in Alphatec during the second quarter worth about $37,000. Northwestern Mutual Wealth Management Co. raised its position in 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 worth $54,000 after acquiring an additional 1,571 shares in the last quarter. FNY Investment Advisers LLC acquired a new stake in Alphatec in the 3rd quarter valued at about $74,000. Finally, State of Wyoming bought a new position in shares of Alphatec during the 2nd quarter valued at about $124,000. 66.35% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several research firms recently commented on ATEC. Weiss Ratings raised shares of Alphatec from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Wednesday, May 6th. Needham & Company LLC dropped their price target on Alphatec from $25.00 to $14.00 and set a “buy” rating on the stock 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 began coverage on Alphatec in a report on Wednesday. They issued an “outperform” rating and a $11.00 target price on the stock. Finally, Piper Sandler reaffirmed an “overweight” rating and set a $14.00 target price (down from $25.00) on shares of Alphatec in a research report on Wednesday, May 6th. One research 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 issued a Sell rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $17.46.

Insider Transactions at Alphatec

In other Alphatec news, Director Karen K. Mcginnis sold 6,050 shares of the business’s stock in a transaction on Thursday, June 11th. The shares were sold at an average price of $8.01, for a total transaction of $48,460.50. Following the sale, the director directly owned 94,671 shares of the company’s stock, valued at $758,314.71. The trade was a 6.01% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available 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. 13.48% of the stock is currently owned by company insiders.

Alphatec Price Performance

ATEC stock opened at $9.58 on Monday. 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 firm has a market capitalization of $1.47 billion, a P/E ratio of -11.68 and a beta of 0.85. Alphatec Holdings, Inc. has a 52-week low of $6.82 and a 52-week high of $23.29. The company’s 50 day simple moving average is $8.36 and its 200-day simple moving average is $12.20.

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.