Bank of America Corp DE Lowers Stake in Alphatec Holdings, Inc. (NASDAQ:ATEC)

Bank of America Corp DE reduced its holdings in shares of Alphatec Holdings, Inc. (NASDAQ:ATEC - Free Report) by 32.6% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,960,347 shares of the medical technology company's stock after selling 1,428,899 shares during the period. Bank of America Corp DE owned 2.09% of Alphatec worth $27,176,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of the business. Vanguard Group Inc. lifted its position in Alphatec by 0.8% during the 4th quarter. Vanguard Group Inc. now owns 5,968,980 shares of the medical technology company's stock valued at $54,795,000 after acquiring an additional 47,797 shares during the period. American Century Companies Inc. increased its stake in Alphatec by 36.5% during the 4th quarter. American Century Companies Inc. now owns 4,989,057 shares of the medical technology company's stock valued at $45,800,000 after purchasing an additional 1,334,780 shares in the last quarter. Geode Capital Management LLC increased its stake in Alphatec by 1.0% during the 4th quarter. Geode Capital Management LLC now owns 2,387,162 shares of the medical technology company's stock valued at $21,919,000 after purchasing an additional 24,283 shares in the last quarter. Marshall Wace LLP increased its stake in Alphatec by 139.2% during the 4th quarter. Marshall Wace LLP now owns 1,773,246 shares of the medical technology company's stock valued at $16,278,000 after purchasing an additional 1,032,070 shares in the last quarter. Finally, Penn Capital Management Company LLC increased its stake in Alphatec by 17.5% during the 4th quarter. Penn Capital Management Company LLC now owns 1,535,182 shares of the medical technology company's stock valued at $14,093,000 after purchasing an additional 228,933 shares in the last quarter. 66.35% of the stock is owned by hedge funds and other institutional investors.

Alphatec Stock Performance

Shares of ATEC stock opened at $12.96 on Friday. The company has a 50 day moving average price of $10.73 and a 200-day moving average price of $10.39. Alphatec Holdings, Inc. has a 52 week low of $4.88 and a 52 week high of $13.03. The firm has a market capitalization of $1.89 billion, a PE ratio of -10.13 and a beta of 1.06. The company has a quick ratio of 1.15, a current ratio of 2.32 and a debt-to-equity ratio of 30.21.

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

Insider Activity at Alphatec

In other news, CEO Patrick Miles sold 32,393 shares of the firm's stock in a transaction dated Wednesday, February 26th. The stock was sold at an average price of $10.89, for a total value of $352,759.77. Following the transaction, the chief executive officer now owns 5,940,391 shares of the company's stock, valued at $64,690,857.99. This trade represents a 0.54% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP David Sponsel sold 12,946 shares of Alphatec stock in a transaction that occurred on Monday, February 24th. The shares were sold at an average price of $10.73, for a total transaction of $138,910.58. Following the transaction, the executive vice president now directly owns 722,128 shares in the company, valued at $7,748,433.44. This represents a 1.76% decrease in their position. The disclosure for this sale can be found here. Over 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.

Wall Street Analyst Weigh In

A number of research firms have weighed in on ATEC. Needham & Company LLC restated a "buy" rating and set a $16.00 price objective on shares of Alphatec in a research note on Friday, May 2nd. HC Wainwright restated a "buy" rating and set a $20.00 price objective on shares of Alphatec in a research note on Monday, April 14th. Piper Sandler restated an "overweight" rating and set a $15.00 price objective (up from $13.00) on shares of Alphatec in a research note on Friday, May 2nd. Barclays raised their price objective 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, StockNews.com upgraded shares of Alphatec from a "sell" rating to a "hold" rating in a research note on Friday, February 28th. Two analysts have 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 presently has an average rating of "Moderate Buy" and an average price target of $17.89.

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.

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