Congress Asset Management Co. MA Acquires New Shares in Alphatec Holdings, Inc. (NASDAQ:ATEC)

Congress Asset Management Co. MA bought a new position in shares of Alphatec Holdings, Inc. (NASDAQ:ATEC) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 132,603 shares of the medical technology company’s stock, valued at approximately $1,829,000. Congress Asset Management Co. MA owned about 0.10% of Alphatec as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Swiss National Bank increased its position in shares of Alphatec by 16.7% during the 3rd quarter. Swiss National Bank now owns 169,300 shares of the medical technology company’s stock worth $2,196,000 after purchasing an additional 24,200 shares during the last quarter. Charles Schwab Investment Management Inc. raised its stake in shares of Alphatec by 193.6% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 621,293 shares of the medical technology company’s stock valued at $8,058,000 after acquiring an additional 409,701 shares during the period. HighTower Advisors LLC lifted its holdings in shares of Alphatec by 10.8% in the 3rd quarter. HighTower Advisors LLC now owns 60,546 shares of the medical technology company’s stock worth $780,000 after acquiring an additional 5,923 shares during the last quarter. Dark Forest Capital Management LP acquired a new position in shares of Alphatec in the 3rd quarter worth approximately $606,000. Finally, Connor Clark & Lunn Investment Management Ltd. boosted its position in shares of Alphatec by 77.3% during the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 461,511 shares of the medical technology company’s stock worth $5,986,000 after purchasing an additional 201,249 shares during the period. Hedge funds and other institutional investors own 66.35% of the company’s stock.

Insider Transactions at Alphatec

In other news, General Counsel Tyson Eliot Marshall sold 50,232 shares of the firm’s stock in a transaction dated Wednesday, June 12th. The stock was sold at an average price of $10.88, for a total transaction of $546,524.16. Following the sale, the general counsel now owns 245,638 shares of the company’s stock, valued at approximately $2,672,541.44. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other Alphatec news, CFO John Todd Koning sold 37,500 shares of the company’s stock in a transaction on Wednesday, April 24th. The shares were sold at an average price of $12.82, for a total value of $480,750.00. Following the completion of the transaction, the chief financial officer now owns 393,356 shares in the company, valued at $5,042,823.92. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, General Counsel Tyson Eliot Marshall sold 50,232 shares of Alphatec stock in a transaction dated Wednesday, June 12th. The stock was sold at an average price of $10.88, for a total value of $546,524.16. Following the sale, the general counsel now owns 245,638 shares in the company, valued at approximately $2,672,541.44. The disclosure for this sale can be found here. Insiders own 22.80% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have commented on ATEC shares. Canaccord Genuity Group restated a “buy” rating and set a $25.00 price target on shares of Alphatec in a research note on Wednesday, March 20th. Piper Sandler lowered their target price on Alphatec from $19.00 to $17.00 and set an “overweight” rating for the company in a report on Wednesday, May 8th. Needham & Company LLC reiterated a “buy” rating and set a $23.00 price target on shares of Alphatec in a research note on Wednesday, May 8th. Finally, HC Wainwright reissued a “buy” rating and issued a $20.00 price objective on shares of Alphatec in a research note on Monday, March 4th. One research analyst has rated the stock with a sell rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $22.89.

Alphatec Stock Down 1.6 %

ATEC stock opened at $10.09 on Friday. The company’s 50 day moving average price is $11.30 and its 200 day moving average price is $13.42. Alphatec Holdings, Inc. has a fifty-two week low of $8.66 and a fifty-two week high of $19.14. The company has a debt-to-equity ratio of 13.63, a quick ratio of 1.49 and a current ratio of 2.39.

Alphatec (NASDAQ:ATEC) last announced its quarterly earnings data on Tuesday, May 7th. The medical technology company reported ($0.34) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.33) by ($0.01). The firm had revenue of $138.48 million during the quarter, compared to analyst estimates of $134.07 million. Alphatec had a negative net margin of 37.45% and a negative return on equity of 1,767.81%. Alphatec’s revenue for the quarter was up 26.9% compared to the same quarter last year. During the same quarter in the previous year, the business posted ($0.40) earnings per share. As a group, analysts forecast that Alphatec Holdings, Inc. will post -1.05 EPS for the current year.

Alphatec 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.