Alphatec Holdings, Inc. (NASDAQ:ATEC) Shares Purchased by Mitsubishi UFJ Asset Management Co. Ltd.

Mitsubishi UFJ Asset Management Co. Ltd. grew its holdings in shares of Alphatec Holdings, Inc. (NASDAQ:ATEC) by 4.6% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 40,734 shares of the medical technology company’s stock after purchasing an additional 1,792 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd.’s holdings in Alphatec were worth $413,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently modified their holdings of the business. Vanguard Group Inc. raised its holdings in shares of Alphatec by 0.8% during the first quarter. Vanguard Group Inc. now owns 6,014,772 shares of the medical technology company’s stock worth $60,990,000 after purchasing an additional 45,792 shares during the period. Royal Bank of Canada raised its holdings in shares of Alphatec by 171.2% during the fourth quarter. Royal Bank of Canada now owns 3,185,283 shares of the medical technology company’s stock worth $29,240,000 after purchasing an additional 2,010,806 shares during the period. Nuveen Asset Management LLC raised its holdings in shares of Alphatec by 78.4% during the fourth quarter. Nuveen Asset Management LLC now owns 2,584,996 shares of the medical technology company’s stock worth $23,730,000 after purchasing an additional 1,136,330 shares during the period. Geode Capital Management LLC raised its holdings in shares of Alphatec by 1.0% during the fourth quarter. Geode Capital Management LLC now owns 2,387,162 shares of the medical technology company’s stock worth $21,919,000 after purchasing an additional 24,283 shares during the period. Finally, Cerity Partners LLC raised its holdings in shares of Alphatec by 1.6% during the first quarter. Cerity Partners LLC now owns 1,859,137 shares of the medical technology company’s stock worth $18,852,000 after purchasing an additional 30,072 shares during the period. 66.35% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Alphatec

In other Alphatec news, EVP Craig E. Hunsaker sold 10,876 shares of the firm’s stock in a transaction dated Wednesday, August 6th. The shares were sold at an average price of $15.33, for a total value of $166,729.08. Following the completion of the transaction, the executive vice president directly owned 1,389,142 shares in the company, valued at $21,295,546.86. This trade represents a 0.78% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, COO Scott Lish sold 16,666 shares of the firm’s stock in a transaction dated Tuesday, August 5th. The stock was sold at an average price of $15.00, for a total transaction of $249,990.00. Following the completion of the transaction, the chief operating officer owned 674,332 shares of the company’s stock, valued at approximately $10,114,980. The trade was a 2.41% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 449,997 shares of company stock valued at $5,846,616 in the last ninety days. Company insiders own 20.90% of the company’s stock.

Analyst Ratings Changes

A number of research firms recently weighed in on ATEC. Piper Sandler reaffirmed an “overweight” rating and issued a $15.00 price objective (up previously from $13.00) on shares of Alphatec in a report on Friday, May 2nd. Needham & Company LLC reaffirmed a “buy” rating and issued a $16.00 price objective on shares of Alphatec in a report on Friday, May 2nd. Wall Street Zen raised shares of Alphatec from a “hold” rating to a “buy” rating in a report on Saturday, August 9th. Canaccord Genuity Group reiterated a “buy” rating and issued a $20.00 target price on shares of Alphatec in a research report on Friday, August 1st. Finally, Lake Street Capital upgraded shares of Alphatec to a “buy” rating and set a $18.00 target price for the company in a research report on Monday, June 16th. Seven equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, Alphatec currently has an average rating of “Buy” and a consensus price target of $18.50.

Alphatec Stock Up 0.5%

NASDAQ ATEC opened at $15.80 on Thursday. Alphatec Holdings, Inc. has a 12 month low of $4.88 and a 12 month high of $16.02. The company has a market capitalization of $2.34 billion, a P/E ratio of -13.98 and a beta of 1.05. The company’s 50 day simple moving average is $11.82 and its 200 day simple moving average is $11.37. The company has a debt-to-equity ratio of 23.22, a current ratio of 2.88 and a quick ratio of 1.77.

Alphatec (NASDAQ:ATEC) last released its earnings results on Thursday, July 31st. The medical technology company reported $0.02 EPS for the quarter, beating the consensus estimate of ($0.06) by $0.08. Alphatec had a negative net margin of 24.33% and a negative return on equity of 1,657.19%. The business had revenue of $185.54 million during the quarter, compared to analyst estimates of $178.85 million. During the same period in the prior year, the business earned ($0.29) earnings per share. The business’s quarterly revenue was up 27.5% on a year-over-year basis. Equities research analysts expect that Alphatec Holdings, Inc. will post -1.08 earnings per share for the current fiscal year.

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.