Jennison Associates LLC Makes New Investment in Alphatec Holdings, Inc. (NASDAQ:ATEC)

Jennison Associates LLC bought a new stake in shares of Alphatec Holdings, Inc. (NASDAQ:ATEC - Free Report) in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 123,432 shares of the medical technology company's stock, valued at approximately $686,000. Jennison Associates LLC owned approximately 0.09% of Alphatec as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Comerica Bank increased its position in Alphatec by 64.8% during the 1st quarter. Comerica Bank now owns 6,443 shares of the medical technology company's stock valued at $89,000 after purchasing an additional 2,534 shares during the period. Van ECK Associates Corp grew its position in shares of Alphatec by 11.8% in the 2nd quarter. Van ECK Associates Corp now owns 12,275 shares of the medical technology company's stock worth $128,000 after buying an additional 1,300 shares during the last quarter. Cetera Advisors LLC raised its stake in shares of Alphatec by 15.6% during the 1st quarter. Cetera Advisors LLC now owns 12,720 shares of the medical technology company's stock worth $175,000 after acquiring an additional 1,720 shares in the last quarter. Net Worth Advisory Group purchased a new stake in Alphatec during the third quarter valued at approximately $76,000. Finally, SG Americas Securities LLC boosted its stake in Alphatec by 44.6% in the second quarter. SG Americas Securities LLC now owns 14,495 shares of the medical technology company's stock valued at $151,000 after acquiring an additional 4,472 shares in the last quarter. Institutional investors own 66.35% of the company's stock.

Alphatec Stock Performance

NASDAQ:ATEC traded down $0.15 during midday trading on Friday, hitting $10.06. The company's stock had a trading volume of 1,122,129 shares, compared to its average volume of 3,035,940. The company has a debt-to-equity ratio of 30.21, a current ratio of 2.32 and a quick ratio of 1.15. Alphatec Holdings, Inc. has a fifty-two week low of $4.88 and a fifty-two week high of $17.34. The firm's 50 day moving average is $6.71 and its 200-day moving average is $8.22. The firm has a market cap of $1.43 billion, a P/E ratio of -7.86 and a beta of 1.31.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on ATEC. Piper Sandler decreased their price objective on Alphatec from $17.00 to $12.00 and set an "overweight" rating for the company in a report on Thursday, August 1st. Needham & Company LLC reissued a "buy" rating and issued a $13.00 price target on shares of Alphatec in a report on Thursday, October 31st. Canaccord Genuity Group restated a "buy" rating and set a $20.00 price objective on shares of Alphatec in a report on Friday, August 30th. Stifel Nicolaus decreased their price objective on shares of Alphatec from $19.00 to $16.00 and set a "buy" rating for the company in a research report on Thursday, August 1st. Finally, Barclays boosted their target price on shares of Alphatec from $19.00 to $20.00 and gave the stock an "overweight" rating in a research report on Tuesday, November 19th. One equities research analyst has rated the stock with a hold rating and eight have assigned a buy rating to the company's stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $17.11.

Alphatec Company 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.