Principal Financial Group Inc. Grows Holdings in Alphatec Holdings, Inc. $ATEC

Principal Financial Group Inc. boosted its position in Alphatec Holdings, Inc. (NASDAQ:ATEC) by 166.9% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 293,001 shares of the medical technology company’s stock after buying an additional 183,230 shares during the quarter. Principal Financial Group Inc.’s holdings in Alphatec were worth $3,188,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in ATEC. Universal Beteiligungs und Servicegesellschaft mbH acquired a new position in shares of Alphatec in the fourth quarter worth about $3,691,000. Tudor Investment Corp ET AL increased its holdings in Alphatec by 608.4% during the 3rd quarter. Tudor Investment Corp ET AL now owns 900,491 shares of the medical technology company’s stock worth $13,093,000 after purchasing an additional 773,367 shares during the last quarter. Aberdeen Group plc raised its position in shares of Alphatec by 29.7% in the 4th quarter. Aberdeen Group plc now owns 1,286,195 shares of the medical technology company’s stock valued at $27,062,000 after purchasing an additional 294,792 shares in the last quarter. Pier Capital LLC purchased a new position in shares of Alphatec during the 4th quarter valued at approximately $4,835,000. Finally, Jefferies Financial Group Inc. grew its position in shares of Alphatec by 983.5% during the fourth quarter. Jefferies Financial Group Inc. now owns 595,937 shares of the medical technology company’s stock worth $12,539,000 after buying an additional 540,937 shares in the last quarter. 66.35% of the stock is owned by hedge funds and other institutional investors.

Alphatec Stock Performance

ATEC stock opened at $9.65 on Thursday. The stock’s 50 day simple moving average is $8.56 and its 200 day simple moving average is $11.06. Alphatec Holdings, Inc. has a 12-month low of $6.82 and a 12-month high of $23.29. The firm has a market cap of $1.48 billion, a P/E ratio of -11.77 and a beta of 0.85. The company has a current ratio of 1.90, a quick ratio of 1.12 and a debt-to-equity ratio of 40.35.

Insiders Place Their Bets

In other Alphatec news, Director Karen K. Mcginnis sold 6,050 shares of the stock in a transaction on Thursday, June 11th. The shares were sold at an average price of $8.01, for a total transaction of $48,460.50. Following the sale, the director directly owned 94,671 shares of the company’s stock, valued at approximately $758,314.71. This 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 available at 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. 13.48% of the stock is currently owned by insiders.

Analyst Ratings Changes

Several analysts recently issued reports on the stock. TD Cowen cut their price target on shares of Alphatec from $20.00 to $11.00 and set a “buy” rating on the stock in a report on Wednesday, May 6th. Stephens assumed coverage on shares of Alphatec in a report on Thursday, July 23rd. They set an “overweight” rating and a $15.00 price objective for the company. Wall Street Zen downgraded shares of Alphatec from a “buy” rating to a “hold” rating in a research report on Sunday, July 12th. JPMorgan Chase & Co. cut their target price on shares of Alphatec from $24.00 to $16.00 and set an “overweight” rating on the stock in a research note on Wednesday, May 6th. Finally, Lake Street Capital reiterated a “buy” rating and issued a $15.00 price target on shares of Alphatec in a research note on Wednesday, May 6th. One equities research analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $17.13.

About Alphatec

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.