Entropy Technologies LP Grows Position in Alphatec Holdings, Inc. (NASDAQ:ATEC)

Entropy Technologies LP lifted its holdings in shares of Alphatec Holdings, Inc. (NASDAQ:ATEC) by 14.9% in the 3rd quarter, Holdings Channel reports. The firm owned 21,623 shares of the medical technology company’s stock after acquiring an additional 2,800 shares during the period. Entropy Technologies LP’s holdings in Alphatec were worth $120,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of ATEC. Point72 Asset Management L.P. increased its holdings in shares of Alphatec by 65.2% in the 2nd quarter. Point72 Asset Management L.P. now owns 3,192,789 shares of the medical technology company’s stock worth $33,365,000 after buying an additional 1,260,137 shares during the last quarter. Magnetar Financial LLC bought a new position in Alphatec in the second quarter valued at $10,957,000. BNP PARIBAS ASSET MANAGEMENT Holding S.A. raised its position in Alphatec by 23.8% during the second quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 2,630,244 shares of the medical technology company’s stock valued at $27,486,000 after purchasing an additional 505,202 shares in the last quarter. Granite Investment Partners LLC lifted its stake in Alphatec by 130.2% during the second quarter. Granite Investment Partners LLC now owns 664,201 shares of the medical technology company’s stock worth $6,941,000 after purchasing an additional 375,621 shares during the last quarter. Finally, AlphaCentric Advisors LLC bought a new position in shares of Alphatec during the 3rd quarter valued at about $2,057,000. 66.35% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Alphatec

In other Alphatec news, Director David M. Demski purchased 50,000 shares of the company’s stock in a transaction that occurred on Wednesday, August 21st. The stock was bought at an average price of $5.67 per share, with a total value of $283,500.00. Following the completion of the purchase, the director now directly owns 288,441 shares of the company’s stock, valued at $1,635,460.47. The trade was a 20.97 % increase in their position. The purchase was disclosed in a filing with the SEC, which is available at this hyperlink. Corporate insiders own 22.80% of the company’s stock.

Alphatec Stock Down 5.7 %

NASDAQ ATEC opened at $8.23 on Monday. Alphatec Holdings, Inc. has a 1 year low of $4.88 and a 1 year high of $17.34. The stock has a market capitalization of $1.17 billion, a PE ratio of -6.43 and a beta of 1.31. The company has a debt-to-equity ratio of 30.21, a current ratio of 2.32 and a quick ratio of 1.15. The business’s 50-day moving average is $6.30 and its 200 day moving average is $8.33.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on the company. Lake Street Capital dropped their target price on Alphatec from $32.00 to $18.00 and set a “buy” rating for the company in a research report on Tuesday, September 3rd. Canaccord Genuity Group reaffirmed a “buy” rating and issued a $20.00 price objective on shares of Alphatec in a research note on Friday, August 30th. Morgan Stanley cut shares of Alphatec from an “overweight” rating to an “equal weight” rating in a research report on Thursday, August 1st. HC Wainwright restated a “buy” rating and set a $20.00 price target on shares of Alphatec in a research report on Thursday, October 31st. Finally, Piper Sandler reduced their price objective on Alphatec from $17.00 to $12.00 and set an “overweight” rating on the stock in a research note on Thursday, August 1st. One analyst has rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $17.00.

Alphatec 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.