123,432 Shares in Alphatec Holdings, Inc. (NASDAQ:ATEC) Bought by Jennison Associates LLC

Jennison Associates LLC acquired a new stake in Alphatec Holdings, Inc. (NASDAQ:ATEC) in the 3rd quarter, Holdings Channel reports. The fund acquired 123,432 shares of the medical technology company’s stock, valued at approximately $686,000.

Other hedge funds also recently made changes to their positions in the company. ProShare Advisors LLC boosted its position in shares of Alphatec by 8.5% in the 1st quarter. ProShare Advisors LLC now owns 16,572 shares of the medical technology company’s stock valued at $229,000 after purchasing an additional 1,304 shares during the period. Vanguard Group Inc. boosted its holdings in shares of Alphatec by 1.2% in the first quarter. Vanguard Group Inc. now owns 5,458,847 shares of the medical technology company’s stock valued at $75,278,000 after acquiring an additional 64,648 shares during the period. Price T Rowe Associates Inc. MD grew its position in shares of Alphatec by 14.2% during the first quarter. Price T Rowe Associates Inc. MD now owns 26,346 shares of the medical technology company’s stock worth $364,000 after acquiring an additional 3,268 shares during the last quarter. Bayesian Capital Management LP increased its holdings in shares of Alphatec by 5.6% in the 1st quarter. Bayesian Capital Management LP now owns 27,000 shares of the medical technology company’s stock valued at $372,000 after acquiring an additional 1,442 shares during the period. Finally, Comerica Bank raised its position in Alphatec by 64.8% in 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. Hedge funds and other institutional investors own 66.35% of the company’s stock.

Analyst Ratings Changes

Several research analysts have issued reports on the stock. HC Wainwright reissued a “buy” rating and set a $20.00 price objective on shares of Alphatec in a research report on Thursday, October 31st. Stifel Nicolaus dropped their price target on Alphatec from $19.00 to $16.00 and set a “buy” rating on the stock in a research report on Thursday, August 1st. Canaccord Genuity Group reaffirmed a “buy” rating and set a $20.00 price objective on shares of Alphatec in a research note on Friday, August 30th. Piper Sandler lowered their target price on Alphatec from $17.00 to $12.00 and set an “overweight” rating on the stock in a research note on Thursday, August 1st. Finally, Barclays upped their price target on Alphatec from $19.00 to $20.00 and gave the stock an “overweight” rating in a research note on Tuesday, November 19th. One analyst has rated the stock with a hold rating and eight have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $17.11.

Alphatec Stock Performance

NASDAQ ATEC opened at $10.06 on Friday. The company has a current ratio of 2.32, a quick ratio of 1.15 and a debt-to-equity ratio of 30.21. The business’s 50 day moving average is $6.71 and its two-hundred day moving average is $8.27. The stock has a market capitalization of $1.43 billion, a price-to-earnings ratio of -7.86 and a beta of 1.31. Alphatec Holdings, Inc. has a 12-month low of $4.88 and a 12-month high of $17.34.

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.