Kornitzer Capital Management Inc. KS Takes $1.09 Million Position in Alphatec Holdings, Inc. $ATEC

Kornitzer Capital Management Inc. KS purchased a new position in shares of Alphatec Holdings, Inc. (NASDAQ:ATEC) during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 100,000 shares of the medical technology company’s stock, valued at approximately $1,088,000. Kornitzer Capital Management Inc. KS owned about 0.07% of Alphatec as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently bought and sold shares of ATEC. Summit Securities Group LLC acquired a new stake in Alphatec during the first quarter valued at approximately $29,000. Osterweis Capital Management Inc. bought a new position in Alphatec during the 2nd quarter worth approximately $37,000. Northwestern Mutual Wealth Management Co. grew its position in shares of Alphatec by 157.1% in the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 2,571 shares of the medical technology company’s stock worth $54,000 after acquiring an additional 1,571 shares in the last quarter. FNY Investment Advisers LLC acquired a new position in shares of Alphatec in the 3rd quarter worth approximately $74,000. Finally, State of Wyoming bought a new stake in shares of Alphatec in the 2nd quarter valued at approximately $124,000. 66.35% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several research firms recently issued reports on ATEC. Barclays dropped their price target on Alphatec from $27.00 to $24.00 and set an “overweight” rating on the stock in a research report on Thursday, May 7th. Needham & Company LLC dropped their target price on shares of Alphatec from $25.00 to $14.00 and set a “buy” rating on the stock in a report on Wednesday, May 6th. Lake Street Capital restated a “buy” rating and issued a $15.00 price target on shares of Alphatec in a research report on Wednesday, May 6th. Weiss Ratings raised shares of Alphatec from a “sell (e+)” rating to a “sell (d-)” rating in a report on Wednesday, May 6th. Finally, JPMorgan Chase & Co. lowered their price objective on shares of Alphatec from $24.00 to $16.00 and set an “overweight” rating for the company in a research report on Wednesday, May 6th. One investment analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $17.46.

Alphatec Price Performance

ATEC opened at $9.58 on Monday. The stock’s 50 day moving average price is $8.36 and its 200 day moving average price is $12.20. The company has a debt-to-equity ratio of 40.35, a current ratio of 1.90 and a quick ratio of 1.12. The stock has a market cap of $1.47 billion, a P/E ratio of -11.68 and a beta of 0.85. Alphatec Holdings, Inc. has a 12 month low of $6.82 and a 12 month high of $23.29.

Insider Activity at Alphatec

In other news, Director Karen K. Mcginnis sold 6,050 shares of the firm’s stock in a transaction on Thursday, June 11th. The stock was sold at an average price of $8.01, for a total transaction of $48,460.50. Following the transaction, the director directly owned 94,671 shares of the company’s stock, valued at approximately $758,314.71. This trade represents a 6.01% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Company insiders own 13.48% of the company’s stock.

Alphatec Profile

Alphatec Holdings, Inc (NASDAQ: ATEC) is a medical technology company focused on the design, development and commercialization of products for the surgical correction of degenerative spinal conditions. The company’s portfolio centers on interbody implants, biologics, fixation devices and surgical planning tools intended to improve patient outcomes in spinal fusion procedures. Alphatec’s flagship offerings include customizable interbody cages, bone graft materials and specialized instrumentation designed for minimally invasive and open spinal surgeries.

Founded as Alphatec Spine in 1985 and rebranded as Alphatec Holdings in 2018, the company has grown from a single-product organization into a multi-platform innovator in the spine market.