Congress Asset Management Co. Acquires 305,296 Shares of Alphatec Holdings, Inc. (NASDAQ:ATEC)

Congress Asset Management Co. boosted its stake in Alphatec Holdings, Inc. (NASDAQ:ATEC) by 235.4% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 434,966 shares of the medical technology company’s stock after acquiring an additional 305,296 shares during the period. Congress Asset Management Co. owned 0.31% of Alphatec worth $3,993,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in ATEC. R Squared Ltd bought a new position in shares of Alphatec in the 4th quarter worth approximately $29,000. Nisa Investment Advisors LLC raised its holdings in Alphatec by 973.3% in the fourth quarter. Nisa Investment Advisors LLC now owns 4,669 shares of the medical technology company’s stock worth $43,000 after purchasing an additional 4,234 shares in the last quarter. Newton One Investments LLC bought a new position in Alphatec in the fourth quarter worth $50,000. XTX Topco Ltd purchased a new position in Alphatec during the third quarter valued at $69,000. Finally, Net Worth Advisory Group bought a new stake in shares of Alphatec during the 3rd quarter valued at $76,000. 66.35% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Alphatec

In other Alphatec news, COO Scott Lish sold 27,453 shares of the company’s stock in a transaction dated Thursday, February 6th. The shares were sold at an average price of $11.49, for a total transaction of $315,434.97. Following the transaction, the chief operating officer now owns 867,677 shares in the company, valued at approximately $9,969,608.73. This represents a 3.07 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP David Sponsel sold 58,283 shares of Alphatec stock in a transaction that occurred on Monday, January 13th. The stock was sold at an average price of $10.71, for a total transaction of $624,210.93. Following the completion of the sale, the executive vice president now owns 502,311 shares of the company’s stock, valued at $5,379,750.81. This represents a 10.40 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 222,376 shares of company stock worth $2,557,148. Insiders own 22.80% of the company’s stock.

Alphatec Price Performance

Shares of ATEC opened at $10.74 on Tuesday. Alphatec Holdings, Inc. has a twelve month low of $4.88 and a twelve month high of $16.20. The company has a market capitalization of $1.52 billion, a P/E ratio of -8.39 and a beta of 1.43. The firm has a 50 day moving average of $10.39 and a 200 day moving average of $8.14. The company has a quick ratio of 1.15, a current ratio of 2.32 and a debt-to-equity ratio of 30.21.

Wall Street Analyst Weigh In

ATEC has been the subject of several research reports. Barclays increased their price target on shares of Alphatec from $20.00 to $21.00 and gave the stock an “overweight” rating in a research note on Wednesday, January 22nd. HC Wainwright reaffirmed a “buy” rating and set a $20.00 target price on shares of Alphatec in a research note on Tuesday, January 14th. Finally, Needham & Company LLC upped their price target on Alphatec from $13.00 to $16.00 and gave the stock a “buy” rating in a research note on Monday, January 13th. One research analyst has rated the stock with a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $17.56.

Alphatec Company Profile

Alphatec Holdings, Inc, a medical technology company, designs, develops, and advances technologies for the surgical treatment of spinal disorders in the United States and internationally. It manufactures and sells implants and instruments through third-party suppliers. The company offers Alpha InformatiX product platform, including EOS imaging system that provides full-body imaging; VEA alignment mobile application, which leverages EOS technology to more quickly quantify alignment parameters on a mobile device; SafeOp Neural InformatiX System that automates electromyographic and somatosensory evoked potential monitoring; and Valence, an intra-operative system that integrates navigation and robotics into spine procedures, as well as Sigma Prone TransPsoas (PTP) Access and PTP Patient Positioning Systems.