Alphatec Holdings, Inc. (NASDAQ:ATEC) Shares Sold by Envestnet Asset Management Inc.

Envestnet Asset Management Inc. cut its stake in Alphatec Holdings, Inc. (NASDAQ:ATEC - Free Report) by 7.6% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 385,660 shares of the medical technology company's stock after selling 31,587 shares during the period. Envestnet Asset Management Inc. owned about 0.27% of Alphatec worth $3,540,000 at the end of the most recent quarter.

Several other institutional investors also recently added to or reduced their stakes in the stock. American Century Companies Inc. increased its stake in shares of Alphatec by 36.5% during the fourth quarter. American Century Companies Inc. now owns 4,989,057 shares of the medical technology company's stock valued at $45,800,000 after buying an additional 1,334,780 shares during the period. Emerald Advisers LLC raised its stake in Alphatec by 112.4% in the fourth quarter. Emerald Advisers LLC now owns 1,456,033 shares of the medical technology company's stock worth $13,366,000 after buying an additional 770,586 shares in the last quarter. Bank of New York Mellon Corp lifted its holdings in Alphatec by 119.3% during the fourth quarter. Bank of New York Mellon Corp now owns 662,239 shares of the medical technology company's stock worth $6,079,000 after buying an additional 360,258 shares during the period. Congress Asset Management Co. boosted its position in Alphatec by 235.4% during the 4th quarter. Congress Asset Management Co. now owns 434,966 shares of the medical technology company's stock valued at $3,993,000 after acquiring an additional 305,296 shares in the last quarter. Finally, Great Lakes Advisors LLC increased its holdings in shares of Alphatec by 130.1% in the 4th quarter. Great Lakes Advisors LLC now owns 379,187 shares of the medical technology company's stock valued at $3,481,000 after acquiring an additional 214,375 shares during the period. Hedge funds and other institutional investors own 66.35% of the company's stock.

Analysts Set New Price Targets

A number of analysts have recently weighed in on ATEC shares. StockNews.com upgraded shares of Alphatec from a "sell" rating to a "hold" rating in a report on Friday, February 28th. Piper Sandler raised their price objective on Alphatec from $12.00 to $13.00 and gave the stock an "overweight" rating in a research report on Thursday, February 27th. HC Wainwright restated a "buy" rating and set a $20.00 target price on shares of Alphatec in a research note on Monday, April 14th. Needham & Company LLC reissued a "buy" rating and set a $16.00 target price on shares of Alphatec in a research report on Thursday, February 27th. Finally, Barclays lifted their price objective on shares of Alphatec from $20.00 to $21.00 and gave the stock an "overweight" rating in a research note on Wednesday, January 22nd. Two equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $17.67.

Alphatec Stock Performance

ATEC stock traded down $0.23 during trading on Wednesday, hitting $10.98. 1,372,636 shares of the company traded hands, compared to its average volume of 2,050,054. 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 1 year low of $4.88 and a 1 year high of $13.79. The stock's 50-day simple moving average is $10.42 and its 200 day simple moving average is $9.78. The company has a market cap of $1.58 billion, a PE ratio of -8.58 and a beta of 1.20.

Alphatec (NASDAQ:ATEC - Get Free Report) last posted its earnings results on Wednesday, February 26th. The medical technology company reported ($0.23) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.19) by ($0.04). The firm had revenue of $176.79 million for the quarter, compared to analysts' expectations of $172.74 million. Alphatec had a negative return on equity of 541.39% and a negative net margin of 31.06%. On average, equities analysts expect that Alphatec Holdings, Inc. will post -1.08 earnings per share for the current fiscal year.

Insider Transactions at Alphatec

In other Alphatec news, CEO Patrick Miles sold 12,691 shares of the stock in a transaction on Friday, March 7th. The shares were sold at an average price of $10.64, for a total transaction of $135,032.24. Following the transaction, the chief executive officer now directly owns 5,857,603 shares of the company's stock, valued at $62,324,895.92. This trade represents a 0.22 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP David Sponsel sold 12,946 shares of Alphatec stock in a transaction dated Monday, February 24th. The shares were sold at an average price of $10.73, for a total transaction of $138,910.58. Following the completion of the sale, the executive vice president now owns 722,128 shares in the company, valued at approximately $7,748,433.44. This trade represents a 1.76 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 222,113 shares of company stock valued at $2,519,725 in the last three months. 22.80% of the stock is currently owned by company insiders.

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.