Healthcare of Ontario Pension Plan Trust Fund Lowers Stake in Alphatec Holdings, Inc. $ATEC

Healthcare of Ontario Pension Plan Trust Fund lessened its stake in Alphatec Holdings, Inc. (NASDAQ:ATEC) by 88.1% in the 1st quarter, according to its most recent filing with the SEC. The fund owned 24,161 shares of the medical technology company’s stock after selling 178,839 shares during the period. Healthcare of Ontario Pension Plan Trust Fund’s holdings in Alphatec were worth $263,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in ATEC. Millennium Management LLC lifted its stake in Alphatec by 292.2% during the fourth quarter. Millennium Management LLC now owns 2,225,927 shares of the medical technology company’s stock worth $46,834,000 after purchasing an additional 1,658,349 shares in the last quarter. Iron Triangle Partners LP acquired a new stake in shares of Alphatec in the fourth quarter valued at $27,051,000. Morgan Stanley raised its holdings in shares of Alphatec by 22.0% in the 4th quarter. Morgan Stanley now owns 4,340,936 shares of the medical technology company’s stock valued at $91,333,000 after buying an additional 784,191 shares during the period. Tudor Investment Corp ET AL raised its holdings in shares of 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 buying an additional 773,367 shares during the period. Finally, M&G PLC acquired a new position in Alphatec during the 4th quarter worth about $14,055,000. Hedge funds and other institutional investors own 66.35% of the company’s stock.

Insider Buying and Selling at Alphatec

In related news, Director Karen K. Mcginnis sold 6,050 shares of the firm’s stock in a transaction that occurred 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 owned 94,671 shares of the company’s stock, valued at $758,314.71. This trade represents a 6.01% decrease in their ownership of the stock. The sale was disclosed in a legal filing 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. Insiders own 13.48% of the company’s stock.

Alphatec Price Performance

ATEC stock opened at $9.52 on Monday. The business’s 50-day moving average is $8.62 and its two-hundred day moving average is $10.91. 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 $1.46 billion, a P/E ratio of -11.61 and a beta of 0.85. Alphatec Holdings, Inc. has a 1 year low of $6.82 and a 1 year high of $23.29.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on the company. BMO Capital Markets began coverage on Alphatec in a report on Wednesday, July 8th. They set an “outperform” rating and a $11.00 target price for the company. Piper Sandler reiterated an “overweight” rating and set a $14.00 price target (down from $25.00) on shares of Alphatec in a research note on Wednesday, May 6th. Needham & Company LLC reduced their price target on shares of Alphatec from $25.00 to $14.00 and set a “buy” rating on the stock in a research report on Wednesday, May 6th. UBS Group initiated coverage on shares of Alphatec in a research note on Tuesday, July 28th. They issued a “buy” rating and a $15.00 price objective for the company. Finally, Stifel Nicolaus dropped their price objective on shares of Alphatec from $16.00 to $13.00 and set a “buy” rating for the company in a report on Wednesday, July 8th. One investment analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, one has issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $17.13.

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.