Next Century Growth Investors LLC Has $50.88 Million Holdings in Alphatec Holdings, Inc. $ATEC

Next Century Growth Investors LLC boosted its stake in shares of Alphatec Holdings, Inc. (NASDAQ:ATEC) by 6.1% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,418,298 shares of the medical technology company’s stock after purchasing an additional 138,915 shares during the quarter. Alphatec comprises approximately 3.5% of Next Century Growth Investors LLC’s investment portfolio, making the stock its 2nd biggest position. Next Century Growth Investors LLC’s holdings in Alphatec were worth $50,881,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Avid Wealth Partners LLC bought a new position in Alphatec during the fourth quarter worth $1,223,000. Barclays PLC boosted its position in Alphatec by 14.7% during the fourth quarter. Barclays PLC now owns 209,266 shares of the medical technology company’s stock worth $4,403,000 after purchasing an additional 26,826 shares during the period. Morgan Stanley boosted its position in Alphatec by 22.0% during the fourth quarter. Morgan Stanley now owns 4,340,936 shares of the medical technology company’s stock worth $91,333,000 after purchasing an additional 784,191 shares during the period. Focused Alpha LLC bought a new position in Alphatec during the fourth quarter worth $846,000. Finally, First Trust Advisors LP boosted its position in Alphatec by 22.4% during the fourth quarter. First Trust Advisors LP now owns 545,602 shares of the medical technology company’s stock worth $11,479,000 after purchasing an additional 99,945 shares during the period. 66.35% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of research firms have commented on ATEC. TD Cowen reduced their price objective on shares of Alphatec from $20.00 to $11.00 and set a “buy” rating for the company in a research report on Wednesday, May 6th. Barclays reduced their price objective on shares of Alphatec from $27.00 to $24.00 and set an “overweight” rating for the company in a research report on Thursday, May 7th. 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. Weiss Ratings raised shares of Alphatec from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Wednesday, May 6th. Finally, JPMorgan Chase & Co. reduced their target price on shares of Alphatec from $24.00 to $16.00 and set an “overweight” rating for the company in a research report on Wednesday, May 6th. Ten analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $18.58.

Alphatec Trading Up 1.8%

ATEC opened at $8.28 on Friday. Alphatec Holdings, Inc. has a twelve month low of $6.82 and a twelve month high of $23.29. The company has a 50-day simple moving average of $9.12 and a 200 day simple moving average of $13.94. 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 stock has a market capitalization of $1.27 billion, a price-to-earnings ratio of -10.10 and a beta of 0.88.

Insiders Place Their Bets

In related news, Director Karen K. Mcginnis sold 6,050 shares of the company’s stock in a transaction dated Thursday, June 11th. The shares were sold at an average price of $8.01, for a total transaction of $48,460.50. Following the completion of the sale, the director owned 94,671 shares of the company’s stock, valued at $758,314.71. This represents a 6.01% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, 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. 13.48% of the stock is owned by corporate insiders.

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.