Balyasny Asset Management L.P. Cuts Stake in Alphatec Holdings, Inc. (NASDAQ:ATEC)

Balyasny Asset Management L.P. trimmed its position in Alphatec Holdings, Inc. (NASDAQ:ATEC - Free Report) by 36.0% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 345,811 shares of the medical technology company's stock after selling 194,283 shares during the quarter. Balyasny Asset Management L.P. owned about 0.24% of Alphatec worth $3,175,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Comerica Bank grew its holdings in Alphatec by 66.8% during the 4th quarter. Comerica Bank now owns 3,116 shares of the medical technology company's stock valued at $29,000 after buying an additional 1,248 shares in the last quarter. R Squared Ltd purchased a new stake in Alphatec during the 4th quarter valued at approximately $29,000. Nisa Investment Advisors LLC grew its holdings in Alphatec by 973.3% during the 4th quarter. Nisa Investment Advisors LLC now owns 4,669 shares of the medical technology company's stock valued at $43,000 after buying an additional 4,234 shares in the last quarter. Quarry LP grew its holdings in Alphatec by 79.2% during 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 in the last quarter. Finally, Newton One Investments LLC purchased a new stake in Alphatec during the 4th quarter valued at approximately $50,000. 66.35% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, COO Scott Lish sold 12,000 shares of Alphatec stock in a transaction on Monday, May 5th. The stock was sold at an average price of $12.12, for a total transaction of $145,440.00. Following the completion of the sale, the chief operating officer now directly owns 826,251 shares in the company, valued at approximately $10,014,162.12. This trade represents a 1.43% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP David Sponsel sold 12,946 shares of Alphatec stock in a transaction on Monday, February 24th. The stock was sold at an average price of $10.73, for a total value of $138,910.58. Following the sale, the executive vice president now owns 722,128 shares of the company's stock, valued at approximately $7,748,433.44. This trade represents a 1.76% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 126,945 shares of company stock worth $1,416,352 over the last three months. 20.90% of the stock is owned by insiders.

Analyst Ratings Changes

A number of brokerages have issued reports on ATEC. Piper Sandler reaffirmed an "overweight" rating and set a $15.00 price objective (up from $13.00) on shares of Alphatec in a report on Friday, May 2nd. HC Wainwright reaffirmed a "buy" rating and set a $20.00 price objective on shares of Alphatec in a report on Monday, April 14th. StockNews.com raised shares of Alphatec from a "sell" rating to a "hold" rating in a report on Friday, February 28th. Needham & Company LLC reaffirmed a "buy" rating and set a $16.00 price objective on shares of Alphatec in a report on Friday, May 2nd. Finally, Barclays increased their target price on Alphatec from $20.00 to $21.00 and gave the company an "overweight" rating in a research report on Wednesday, January 22nd. Two research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company's stock. According to MarketBeat, Alphatec has a consensus rating of "Moderate Buy" and a consensus target price of $17.89.

Alphatec Price Performance

Shares of NASDAQ ATEC traded up $0.22 during midday trading on Friday, reaching $12.96. 1,528,655 shares of the stock traded hands, compared to its average volume of 2,038,442. The company has a debt-to-equity ratio of 30.21, a current ratio of 2.32 and a quick ratio of 1.15. The stock has a market capitalization of $1.89 billion, a PE ratio of -10.13 and a beta of 1.06. Alphatec Holdings, Inc. has a one year low of $4.88 and a one year high of $13.03. The company's 50 day moving average is $10.73 and its 200 day moving average is $10.39.

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

Alphatec 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.