Jennison Associates LLC Decreases Stock Position in Alphatec Holdings, Inc. (NASDAQ:ATEC)

Jennison Associates LLC lowered its stake in Alphatec Holdings, Inc. (NASDAQ:ATEC) by 32.5% during the 4th quarter, Holdings Channel reports. The institutional investor owned 83,303 shares of the medical technology company’s stock after selling 40,129 shares during the period. Jennison Associates LLC’s holdings in Alphatec were worth $765,000 at the end of the most recent quarter.

Several other large investors have also recently modified their holdings of the stock. State Street Corp increased its holdings in shares of Alphatec by 10.1% in the third quarter. State Street Corp now owns 3,138,960 shares of the medical technology company’s stock worth $17,453,000 after buying an additional 287,350 shares during the period. BNP PARIBAS ASSET MANAGEMENT Holding S.A. increased its holdings in shares of Alphatec by 11.3% in the third quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 2,928,094 shares of the medical technology company’s stock worth $16,280,000 after buying an additional 297,850 shares during the period. Royce & Associates LP increased its holdings in shares of Alphatec by 15.9% in the third quarter. Royce & Associates LP now owns 1,212,286 shares of the medical technology company’s stock worth $6,740,000 after buying an additional 165,954 shares during the period. Walleye Capital LLC increased its holdings in shares of Alphatec by 3.2% in the third quarter. Walleye Capital LLC now owns 1,061,462 shares of the medical technology company’s stock worth $5,902,000 after buying an additional 32,529 shares during the period. Finally, Charles Schwab Investment Management Inc. increased its holdings in shares of Alphatec by 1.9% in the third quarter. Charles Schwab Investment Management Inc. now owns 823,222 shares of the medical technology company’s stock worth $4,577,000 after buying an additional 15,577 shares during the period. Hedge funds and other institutional investors own 66.35% of the company’s stock.

Alphatec Stock Performance

Alphatec stock opened at $11.42 on Friday. The stock’s 50 day simple moving average is $10.26 and its two-hundred day simple moving average is $8.13. The company has a debt-to-equity ratio of 30.21, a quick ratio of 1.15 and a current ratio of 2.32. The stock has a market cap of $1.62 billion, a price-to-earnings ratio of -8.92 and a beta of 1.43. Alphatec Holdings, Inc. has a fifty-two week low of $4.88 and a fifty-two week high of $17.34.

Insider Buying and Selling at Alphatec

In other Alphatec news, EVP David Sponsel sold 58,283 shares of Alphatec stock in a transaction that occurred on Monday, January 13th. The stock was sold at an average price of $10.71, for a total transaction of $624,210.93. Following the sale, the executive vice president now directly owns 502,311 shares of the company’s stock, valued at approximately $5,379,750.81. The trade was a 10.40 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Patrick Miles sold 50,000 shares of the business’s stock in a transaction that occurred on Wednesday, January 29th. The stock was sold at an average price of $12.03, for a total value of $601,500.00. Following the completion of the sale, the chief executive officer now directly owns 6,152,544 shares in the company, valued at approximately $74,015,104.32. This represents a 0.81 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 151,464 shares of company stock valued at $1,722,378. 22.80% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

ATEC has been the topic of several analyst reports. Barclays lifted their price objective on Alphatec from $20.00 to $21.00 and gave the stock an “overweight” rating in a report on Wednesday, January 22nd. HC Wainwright reissued a “buy” rating and issued a $20.00 target price on shares of Alphatec in a research note on Tuesday, January 14th. Finally, Needham & Company LLC raised their target price on Alphatec from $13.00 to $16.00 and gave the stock a “buy” rating in a research note on Monday, January 13th. One investment analyst has rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to data from MarketBeat, Alphatec currently has an average rating of “Moderate Buy” and a consensus price target of $17.56.

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.