Hong Kong-Based Investment Firm Acquires Stake in Alphatec Holdings, Inc. Amid Positive Outlook for Medical Technology Sector

On August 21, 2023, it was reported that Y Intercept Hong Kong Ltd acquired a new stake in Alphatec Holdings, Inc. (NASDAQ:ATEC) during the first quarter of the year. According to their filing with the Securities and Exchange Commission (SEC), the firm purchased 11,296 shares of Alphatec’s stock, which was valued at approximately $176,000.

Alphatec Holdings, Inc. is a company that specializes in the design, development, and marketing of spinal fusion technology products and solutions for the treatment of spinal disorders. Their offerings include intra-operative information and neuromonitoring technologies, access systems, interbody implants, fixation systems, and various biologics.

The news of Y Intercept Hong Kong Ltd’s investment in Alphatec comes alongside favorable ratings from several brokerages. Canaccord Genuity Group increased their target price for Alphatec from $17.00 to $22.00 and gave the stock a “buy” rating in a report published on August 4th. Similarly, Needham & Company LLC raised their target price from $19.00 to $20.00 and also rated the company as a “buy”. Stifel Nicolaus projected a target price increase from $18.00 to $25.00 with a “buy” rating for Alphatec in their research report on August 4th.

Furthermore, Morgan Stanley raised their price target for Alphatec shares from $19.00 to $23.00, giving the stock an “overweight” rating on August 4th. HC Wainwright maintained their “buy” rating and set a price objective of $20.00 for Alphatec shares in their research report on the same day.

Overall, data obtained from Bloomberg.com reveals that Alphatec has garnered positive sentiment among analysts, with a consensus rating of “Moderate Buy”. The consensus price target for the stock stands at $22.00.

This recent investment by Y Intercept Hong Kong Ltd signifies confidence in Alphatec Holdings, Inc. and its potential for growth in the market. As the demand for spinal fusion technology products and solutions continues to rise, Alphatec may find itself well-positioned to capitalize on this opportunity and deliver value to its shareholders.

Ownership Changes and Insider Transactions Shake Up Alphatec Holdings Inc.

---

Alphatec Holdings, Inc. has recently seen changes in its ownership by hedge funds and institutional investors. Legal & General Group Plc increased its holdings in the medical technology company by 3.1% during the fourth quarter. This move resulted in Legal & General Group Plc owning 33,038 shares of Alphatec valued at $408,000 after purchasing an additional 994 shares. Similarly, CIBC Private Wealth Group LLC raised its stake by 8.4% during the third quarter, now owning 12,904 shares valued at $113,000 after acquiring an additional 1,000 shares.

Another investment management firm, Mesirow Financial Investment Management Inc., increased its holdings in Alphatec by 2.7% during the first quarter. The company now owns 42,146 shares valued at $657,000 after purchasing an additional 1,126 shares. Additionally, Captrust Financial Advisors lifted its holdings by 5.2% during the second quarter and currently owns 23,712 shares worth $155,000 after acquiring an additional 1,162 shares.

Lastly, Metropolitan Life Insurance Co. NY saw a growth of 35.8% in their holdings during the fourth quarter. The company now holds 4,508 shares of Alphatec which are valued at $56,000 after purchasing an additional 1,188 shares.

It is worth noting that a significant portion (58.97%) of Alphatec stock is currently owned by institutional investors.

On another note pertaining to the stock market performance of Alphatec Holdings Inc., it opened at a trading price of $14.41 on NASDAQ on Monday. Over the past twelve months leading up to August 21st ,2023; its stock has fluctuated between a low of $7.11 and a high of $19.14.

The company also has a fifty-day moving average of $16.75 and a 200-day moving average of $15.67. Alphatec Holdings Inc. has a market capitalization of $1.73 billion, and its shares are traded with a price-to-earnings (P/E) ratio of -9.54 and a beta value of 1.28.

In terms of its business operations, Alphatec Holdings Inc. primarily engages in the design, development, and marketing of spinal fusion technology products and solutions for the treatment of spinal disorders. The company offers various offerings including intra-operative information and neuromonitoring technologies, access systems, interbody implants, fixation systems, as well as biologics offerings.

In recent news related to the company’s stock ownership, major shareholder Jennifer N. Pritzker acquired 2,400 shares in Alphatec Holdings Inc., with an average purchase price of $14.99 per share on August 10th . This resulted in a total transaction value of $35,976. Following this acquisition, Jennifer N. Pritzker now owns 58,000 shares in the company valued at approximately $869,420.

Furthermore, director Paul Segal sold 71,329 shares on June 12th at an average price of $15.15 per share for a total value of $1,080,634.35. As a result of this transaction, Segal now directly holds 100,000 shares in the company valued at $1,515,000.

These insider transactions have led to corporate insiders selling a total of 142,721 shares valued at $2,246725 over the last ninety days while retaining ownership over 29% shareholding.

The details surrounding these changes in ownership and other relevant information can be found through official filings with the SEC or respective documentation available online.

Overall, Alphatec Holdings Inc.’s complex ownership structure and recent trading trends have created a sense of perplexity within the financial community. As investors continue to navigate the stock market, keeping a close eye on such developments can help inform their decision-making process.