Algert Global LLC Trims Stake in Alphatec Holdings, Inc. (NASDAQ:ATEC)

Algert Global LLC lowered its position in Alphatec Holdings, Inc. (NASDAQ:ATEC - Free Report) by 36.9% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 164,839 shares of the medical technology company's stock after selling 96,328 shares during the quarter. Algert Global LLC owned approximately 0.12% of Alphatec worth $1,513,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. R Squared Ltd acquired a new stake in Alphatec in the 4th quarter worth about $29,000. Comerica Bank raised its stake in Alphatec by 66.8% in the 4th quarter. Comerica Bank now owns 3,116 shares of the medical technology company's stock worth $29,000 after purchasing an additional 1,248 shares in the last quarter. Nisa Investment Advisors LLC raised its stake in Alphatec by 973.3% in the 4th quarter. Nisa Investment Advisors LLC now owns 4,669 shares of the medical technology company's stock worth $43,000 after purchasing an additional 4,234 shares in the last quarter. Quarry LP increased its holdings in Alphatec by 79.2% in the 4th quarter. Quarry LP now owns 5,374 shares of the medical technology company's stock valued at $49,000 after buying an additional 2,375 shares during the period. Finally, Newton One Investments LLC bought a new position in Alphatec in the 4th quarter valued at about $50,000. Institutional investors and hedge funds own 66.35% of the company's stock.

Analysts Set New Price Targets

Several equities analysts have commented on ATEC shares. Piper Sandler reissued an "overweight" rating and issued a $15.00 target price (up from $13.00) on shares of Alphatec in a report on Friday, May 2nd. Needham & Company LLC reiterated a "buy" rating and issued a $16.00 target price on shares of Alphatec in a research note on Friday, May 2nd. StockNews.com upgraded shares of Alphatec from a "sell" rating to a "hold" rating in a research report on Friday, February 28th. Barclays raised their target price on shares of Alphatec from $20.00 to $21.00 and gave the company an "overweight" rating in a research note on Wednesday, January 22nd. Finally, HC Wainwright reaffirmed a "buy" rating and issued a $20.00 target price on shares of Alphatec in a research note on Monday, April 14th. Two investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat, Alphatec currently has an average rating of "Moderate Buy" and an average price target of $17.89.

Alphatec Stock Up 0.4%

Shares of ATEC traded up $0.05 during trading hours on Tuesday, hitting $12.72. The company had a trading volume of 985,887 shares, compared to its average volume of 2,041,760. Alphatec Holdings, Inc. has a 52-week low of $4.88 and a 52-week high of $12.84. The firm has a fifty day moving average price of $10.56 and a 200-day moving average price of $10.23. The company has a debt-to-equity ratio of 30.21, a quick ratio of 1.15 and a current ratio of 2.32. The stock has a market capitalization of $1.86 billion, a price-to-earnings ratio of -9.94 and a beta of 1.06.

Alphatec (NASDAQ:ATEC - Get Free Report) last released its quarterly earnings results on Thursday, May 1st. The medical technology company reported ($0.35) EPS for the quarter, missing the consensus estimate of ($0.12) by ($0.23). Alphatec had a negative net margin of 31.06% and a negative return on equity of 541.39%. The business had revenue of $169.18 million for the quarter, compared to analysts' expectations of $167.57 million. During the same period in the previous year, the company earned ($0.34) EPS. Alphatec's revenue for the quarter was up 22.2% compared to the same quarter last year. On average, equities research analysts forecast that Alphatec Holdings, Inc. will post -1.08 EPS for the current fiscal year.

Insider Activity at Alphatec

In other Alphatec news, CEO Patrick Miles sold 32,393 shares of the company's stock in a transaction that occurred on Wednesday, February 26th. The stock was sold at an average price of $10.89, for a total value of $352,759.77. Following the completion of the transaction, the chief executive officer now directly owns 5,940,391 shares in the company, valued at $64,690,857.99. This represents a 0.54% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, COO Scott Lish sold 23,183 shares of the company's stock in a transaction that occurred on Thursday, February 27th. The stock was sold at an average price of $12.03, for a total value of $278,891.49. Following the completion of the transaction, the chief operating officer now owns 844,494 shares of the company's stock, valued at $10,159,262.82. The trade was a 2.67% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 126,945 shares of company stock worth $1,416,352. 20.90% of the stock is owned by company insiders.

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.