Emerald Advisers LLC Acquires 169,578 Shares of Alphatec Holdings, Inc. $ATEC

Emerald Advisers LLC grew its position in Alphatec Holdings, Inc. (NASDAQ:ATEC) by 10.4% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,807,307 shares of the medical technology company’s stock after acquiring an additional 169,578 shares during the quarter. Emerald Advisers LLC owned 1.18% of Alphatec worth $19,664,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Millennium Management LLC lifted its stake in Alphatec by 292.2% in 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 during the last quarter. Iron Triangle Partners LP purchased a new stake in shares of Alphatec in the 4th quarter worth $27,051,000. Morgan Stanley grew its holdings in Alphatec by 22.0% during the 4th quarter. Morgan Stanley now owns 4,340,936 shares of the medical technology company’s stock worth $91,333,000 after acquiring an additional 784,191 shares in the last quarter. Tudor Investment Corp ET AL boosted its stake in shares of Alphatec by 608.4% during the third quarter. Tudor Investment Corp ET AL now owns 900,491 shares of the medical technology company’s stock valued at $13,093,000 after purchasing an additional 773,367 shares in the last quarter. Finally, M&G PLC bought a new stake in Alphatec during the 4th quarter valued at $14,055,000. Hedge funds and other institutional investors own 66.35% of the company’s stock.

Analyst Upgrades and Downgrades

ATEC has been the subject of several recent analyst reports. 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 note on Thursday, May 7th. BMO Capital Markets initiated coverage on shares of Alphatec in a report on Wednesday, July 8th. They issued an “outperform” rating and a $11.00 price objective on the stock. JPMorgan Chase & Co. dropped their target price on Alphatec from $24.00 to $16.00 and set an “overweight” rating on the stock in a report on Wednesday, May 6th. HC Wainwright reissued a “buy” rating and issued a $24.00 price target on shares of Alphatec in a research note on Thursday, May 7th. Finally, Stifel Nicolaus cut their price objective on Alphatec from $16.00 to $13.00 and set a “buy” rating for the company in a research note on Wednesday, July 8th. One equities research analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, Alphatec has a consensus rating of “Moderate Buy” and a consensus target price of $17.46.

Alphatec Trading Up 1.7%

Shares of Alphatec stock opened at $9.74 on Tuesday. The firm has a market capitalization of $1.50 billion, a price-to-earnings ratio of -11.88 and a beta of 0.85. Alphatec Holdings, Inc. has a fifty-two week low of $6.82 and a fifty-two week high of $23.29. The stock has a 50 day moving average of $8.36 and a 200 day moving average of $12.12. The company has a debt-to-equity ratio of 40.35, a quick ratio of 1.12 and a current ratio of 1.90.

Insider Transactions at Alphatec

In other Alphatec 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 completion of the transaction, 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 position. The sale was disclosed in a filing with the SEC, which is available at this link. 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.

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.