JPMorgan Chase & Co. lifted its stake in shares of Alphatec Holdings, Inc. (NASDAQ:ATEC – Get Rating) by 30.5% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 2,071,701 shares of the medical technology company’s stock after buying an additional 483,935 shares during the period. JPMorgan Chase & Co.’s holdings in Alphatec were worth $25,586,000 at the end of the most recent quarter.
Other hedge funds have also bought and sold shares of the company. Belpointe Asset Management LLC acquired a new position in shares of Alphatec in the fourth quarter valued at approximately $25,000. Point72 Hong Kong Ltd purchased a new stake in shares of Alphatec during the 2nd quarter worth about $46,000. Quantbot Technologies LP acquired a new stake in Alphatec during the 1st quarter valued at $66,000. Tower Research Capital LLC TRC boosted its holdings in Alphatec by 66.9% in the third quarter. Tower Research Capital LLC TRC now owns 7,621 shares of the medical technology company’s stock worth $67,000 after purchasing an additional 3,055 shares during the period. Finally, Birchview Capital LP acquired a new stake in shares of Alphatec in the 3rd quarter worth approximately $87,000. Hedge funds and other institutional investors own 48.59% of the company’s stock.
Alphatec Trading Down 1.2 %
ATEC stock opened at $15.12 on Monday. Alphatec Holdings, Inc. has a twelve month low of $5.73 and a twelve month high of $17.13. The company has a market capitalization of $1.79 billion, a P/E ratio of -10.50 and a beta of 1.25. The firm has a 50 day simple moving average of $15.29 and a 200-day simple moving average of $13.84.
Insider Transactions at Alphatec
In related news, CFO John Todd Koning sold 16,500 shares of Alphatec stock in a transaction on Thursday, April 20th. The stock was sold at an average price of $16.42, for a total transaction of $270,930.00. Following the completion of the sale, the chief financial officer now owns 415,552 shares of the company’s stock, valued at $6,823,363.84. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other Alphatec news, CFO John Todd Koning sold 16,500 shares of the company’s stock in a transaction that occurred on Thursday, April 20th. The stock was sold at an average price of $16.42, for a total transaction of $270,930.00. Following the sale, the chief financial officer now directly owns 415,552 shares in the company, valued at $6,823,363.84. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP Craig E. Hunsaker sold 28,311 shares of the company’s stock in a transaction dated Monday, April 24th. The shares were sold at an average price of $15.85, for a total transaction of $448,729.35. Following the transaction, the executive vice president now owns 1,285,694 shares in the company, valued at approximately $20,378,249.90. The disclosure for this sale can be found here. Insiders sold a total of 1,803,402 shares of company stock valued at $26,911,717 in the last quarter. 29.12% of the stock is currently owned by company insiders.
Analysts Set New Price Targets
A number of analysts have weighed in on ATEC shares. HC Wainwright reissued a “buy” rating and issued a $20.00 price target on shares of Alphatec in a report on Wednesday, March 1st. Morgan Stanley lifted their price objective on Alphatec from $17.00 to $18.00 and gave the stock an “overweight” rating in a research note on Wednesday, March 1st. Needham & Company LLC reiterated a “buy” rating and issued a $18.00 target price on shares of Alphatec in a research note on Monday, April 17th. Finally, StockNews.com downgraded shares of Alphatec from a “hold” rating to a “sell” rating in a research note on Saturday. One analyst has rated the stock with a sell rating, one has given a hold rating and five have issued a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $16.25.
About Alphatec
Alphatec Holdings, Inc engages in the design, development, and marketing of spinal fusion technology products and solutions for the treatment of spinal disorders. It offers intra-operative information and neuromonitoring technologies, access systems, interbody implants, fixation systems, and various biologics offerings.
Further Reading
- Get a free copy of the StockNews.com research report on Alphatec (ATEC)
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