State Street Corp Has $17.45 Million Holdings in Alphatec Holdings, Inc. (NASDAQ:ATEC)

State Street Corp increased its holdings in Alphatec Holdings, Inc. (NASDAQ:ATEC) by 10.1% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,138,960 shares of the medical technology company’s stock after buying an additional 287,350 shares during the period. State Street Corp owned 2.21% of Alphatec worth $17,453,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also made changes to their positions in the stock. Bank of New York Mellon Corp raised its holdings in Alphatec by 16.7% in the 2nd quarter. Bank of New York Mellon Corp now owns 374,742 shares of the medical technology company’s stock valued at $3,916,000 after acquiring an additional 53,541 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in Alphatec by 15.5% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 27,243 shares of the medical technology company’s stock valued at $285,000 after purchasing an additional 3,664 shares in the last quarter. F M Investments LLC bought a new stake in Alphatec during the second quarter worth about $3,284,000. HighMark Wealth Management LLC lifted its position in Alphatec by 87.1% during the second quarter. HighMark Wealth Management LLC now owns 107,400 shares of the medical technology company’s stock worth $1,122,000 after purchasing an additional 50,000 shares during the period. Finally, BNP PARIBAS ASSET MANAGEMENT Holding S.A. grew its stake 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 worth $27,486,000 after buying an additional 505,202 shares in the last quarter. 66.35% of the stock is currently owned by institutional investors.

Alphatec Stock Performance

Shares of ATEC stock opened at $9.23 on Wednesday. The firm has a market capitalization of $1.31 billion, a price-to-earnings ratio of -7.21 and a beta of 1.38. The company has a current ratio of 2.32, a quick ratio of 1.15 and a debt-to-equity ratio of 30.21. The business’s 50-day moving average price is $8.53 and its 200-day moving average price is $8.09. Alphatec Holdings, Inc. has a 12 month low of $4.88 and a 12 month high of $17.34.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on ATEC shares. Lake Street Capital cut their price target on shares of Alphatec from $32.00 to $18.00 and set a “buy” rating for the company in a report on Tuesday, September 3rd. Canaccord Genuity Group restated a “buy” rating and set a $20.00 target price on shares of Alphatec in a research note on Friday, August 30th. HC Wainwright reiterated a “buy” rating and issued a $20.00 price target on shares of Alphatec in a research note on Thursday, October 31st. Needham & Company LLC reissued a “buy” rating and set a $13.00 price target on shares of Alphatec in a report on Thursday, October 31st. Finally, Barclays raised their price objective on Alphatec from $19.00 to $20.00 and gave the company an “overweight” rating in a research note on Tuesday, November 19th. One equities research analyst has rated the stock with a hold rating and eight have given a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price 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.