Janus Henderson Group PLC Reduces Stock Position in Alphatec Holdings, Inc. (NASDAQ:ATEC)

Janus Henderson Group PLC reduced its stake in Alphatec Holdings, Inc. (NASDAQ:ATEC - Free Report) by 95.5% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 49,743 shares of the medical technology company's stock after selling 1,044,152 shares during the quarter. Janus Henderson Group PLC's holdings in Alphatec were worth $277,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of ATEC. Point72 Asset Management L.P. grew its stake in shares of Alphatec by 65.2% during 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 purchasing an additional 1,260,137 shares during the period. BNP PARIBAS ASSET MANAGEMENT Holding S.A. lifted its holdings in Alphatec by 11.3% in the 3rd quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 2,928,094 shares of the medical technology company's stock valued at $16,280,000 after purchasing an additional 297,850 shares in the last quarter. Fred Alger Management LLC lifted its holdings in Alphatec by 0.8% in the 2nd quarter. Fred Alger Management LLC now owns 2,638,303 shares of the medical technology company's stock valued at $27,570,000 after purchasing an additional 21,078 shares in the last quarter. First Turn Management LLC raised its holdings in shares of Alphatec by 37.3% during the 2nd quarter. First Turn Management LLC now owns 1,360,410 shares of the medical technology company's stock worth $14,216,000 after acquiring an additional 369,792 shares during the period. Finally, Royce & Associates LP raised its holdings in shares of Alphatec by 15.9% during the 3rd quarter. Royce & Associates LP now owns 1,212,286 shares of the medical technology company's stock worth $6,740,000 after acquiring an additional 165,954 shares during the period. 66.35% of the stock is owned by hedge funds and other institutional investors.

Alphatec Price Performance

ATEC stock traded down $0.15 on Monday, reaching $9.47. 1,396,603 shares of the company's stock were exchanged, compared to its average volume of 1,924,007. The stock has a fifty day moving average of $8.06 and a 200-day moving average of $8.12. Alphatec Holdings, Inc. has a twelve month low of $4.88 and a twelve month high of $17.34. The firm has a market cap of $1.34 billion, a PE ratio of -7.40 and a beta of 1.38. The company has a quick ratio of 1.15, a current ratio of 2.32 and a debt-to-equity ratio of 30.21.

Wall Street Analyst Weigh In

Several research analysts have recently commented on ATEC shares. Canaccord Genuity Group reiterated a "buy" rating and set a $20.00 price target on shares of Alphatec in a report on Friday, August 30th. HC Wainwright restated a "buy" rating and set a $20.00 target price on shares of Alphatec in a research note on Thursday, October 31st. Barclays boosted their target price on Alphatec from $19.00 to $20.00 and gave the stock an "overweight" rating in a research note on Tuesday, November 19th. Lake Street Capital reduced their price objective on Alphatec from $32.00 to $18.00 and set a "buy" rating for the company in a research note on Tuesday, September 3rd. Finally, Needham & Company LLC reiterated a "buy" rating and issued a $13.00 price objective on shares of Alphatec in a research note on Thursday, October 31st. One equities research analyst has rated the stock with a hold rating and eight have issued a buy rating to the company's stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $17.11.

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.