Van ECK Associates Corp Grows Holdings in Alphatec Holdings, Inc. (NASDAQ:ATEC)

Van ECK Associates Corp lifted its holdings in Alphatec Holdings, Inc. (NASDAQ:ATEC) by 57.0% during the third quarter, Holdings Channel reports. The institutional investor owned 19,273 shares of the medical technology company’s stock after acquiring an additional 6,998 shares during the quarter. Van ECK Associates Corp’s holdings in Alphatec were worth $99,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Net Worth Advisory Group purchased a new stake in Alphatec during the 3rd quarter valued at about $76,000. Comerica Bank grew its position in Alphatec by 64.8% during the 1st quarter. Comerica Bank now owns 6,443 shares of the medical technology company’s stock valued at $89,000 after purchasing an additional 2,534 shares during the last quarter. Tempus Wealth Planning LLC purchased a new stake in Alphatec during the 3rd quarter valued at about $107,000. Stephens Inc. AR grew its position in Alphatec by 51.4% during the 3rd quarter. Stephens Inc. AR now owns 21,743 shares of the medical technology company’s stock valued at $121,000 after purchasing an additional 7,382 shares during the last quarter. Finally, EntryPoint Capital LLC purchased a new stake in Alphatec during the 1st quarter valued at about $141,000. 66.35% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Alphatec

In other news, Director David M. Demski bought 50,000 shares of the firm’s stock in a transaction on Wednesday, August 21st. The shares were bought at an average price of $5.67 per share, for a total transaction of $283,500.00. Following the purchase, the director now owns 288,441 shares in the company, valued at approximately $1,635,460.47. The trade was a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 22.80% of the company’s stock.

Analyst Ratings Changes

ATEC has been the topic of several recent analyst reports. Piper Sandler cut their price objective on shares of Alphatec from $17.00 to $12.00 and set an “overweight” rating on the stock in a research report on Thursday, August 1st. Morgan Stanley cut shares of Alphatec from an “overweight” rating to an “equal weight” rating in a research note on Thursday, August 1st. Lake Street Capital lowered their target price on shares of Alphatec from $32.00 to $18.00 and set a “buy” rating on the stock in a research note on Tuesday, September 3rd. Stifel Nicolaus lowered their target price on shares of Alphatec from $19.00 to $16.00 and set a “buy” rating on the stock in a research note on Thursday, August 1st. Finally, Wells Fargo & Company lowered their target price on shares of Alphatec from $26.00 to $19.00 and set an “overweight” rating on the stock in a research note on Thursday, August 1st. One equities research analyst has rated the stock with a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $17.00.

Alphatec Price Performance

Shares of NASDAQ:ATEC opened at $9.13 on Thursday. The firm’s 50 day moving average price is $6.22 and its 200-day moving average price is $8.42. Alphatec Holdings, Inc. has a twelve month low of $4.88 and a twelve month high of $17.34. The company has a quick ratio of 1.15, a current ratio of 2.32 and a debt-to-equity ratio of 30.21. The stock has a market capitalization of $1.29 billion, a PE ratio of -7.13 and a beta of 1.31.

About Alphatec

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.