Cerity Partners LLC Increases Holdings in Alphatec Holdings, Inc. (NASDAQ:ATEC)

Cerity Partners LLC increased its holdings in shares of Alphatec Holdings, Inc. (NASDAQ:ATEC - Free Report) by 1.6% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,859,137 shares of the medical technology company's stock after acquiring an additional 30,072 shares during the quarter. Cerity Partners LLC owned about 1.29% of Alphatec worth $18,852,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in ATEC. Royal Bank of Canada grew its holdings in Alphatec by 171.2% in the 4th quarter. Royal Bank of Canada now owns 3,185,283 shares of the medical technology company's stock valued at $29,240,000 after buying an additional 2,010,806 shares in the last quarter. American Century Companies Inc. lifted its position in shares of 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 acquiring an additional 1,334,780 shares during the period. Nuveen Asset Management LLC lifted its position in shares of Alphatec by 78.4% during the 4th quarter. Nuveen Asset Management LLC now owns 2,584,996 shares of the medical technology company's stock valued at $23,730,000 after acquiring an additional 1,136,330 shares during the period. Marshall Wace LLP lifted its position in shares of 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 acquiring an additional 1,032,070 shares during the period. Finally, Emerald Advisers LLC lifted its position in shares of Alphatec by 112.4% during the 4th quarter. Emerald Advisers LLC now owns 1,456,033 shares of the medical technology company's stock valued at $13,366,000 after acquiring an additional 770,586 shares during the period. 66.35% of the stock is owned by institutional investors and hedge funds.

Alphatec Stock Down 0.3%

Alphatec stock traded down $0.03 during mid-day trading on Tuesday, reaching $10.88. 159,813 shares of the company's stock were exchanged, compared to its average volume of 2,064,652. The business's fifty day simple moving average is $11.87 and its 200 day simple moving average is $11.04. The firm has a market capitalization of $1.59 billion, a PE ratio of -9.46 and a beta of 1.05. Alphatec Holdings, Inc. has a one year low of $4.88 and a one year high of $13.14.

Alphatec (NASDAQ:ATEC - Get Free Report) last released its 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 firm had revenue of $169.18 million during the quarter, compared to analysts' expectations of $167.57 million. Alphatec had a negative return on equity of 1,657.19% and a negative net margin of 25.77%. The business's quarterly revenue was up 22.2% compared to the same quarter last year. During the same period in the prior year, the business earned ($0.34) earnings per share. On average, sell-side analysts forecast that Alphatec Holdings, Inc. will post -1.08 earnings per share for the current year.

Insider Activity

In other news, COO Scott Lish sold 55,375 shares of Alphatec stock in a transaction on Monday, May 19th. The stock was sold at an average price of $13.00, for a total value of $719,875.00. Following the completion of the transaction, the chief operating officer directly owned 771,645 shares in the company, valued at approximately $10,031,385. The trade was a 6.70% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Craig E. Hunsaker sold 186,122 shares of Alphatec stock in a transaction on Wednesday, June 4th. The shares were sold at an average price of $12.34, for a total value of $2,296,745.48. Following the sale, the executive vice president directly owned 1,463,896 shares of the company's stock, valued at $18,064,476.64. This represents a 11.28% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 299,547 shares of company stock worth $3,698,956. 20.90% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on the company. Lake Street Capital upgraded Alphatec to a "buy" rating and set a $18.00 target price for the company in a research report on Monday, June 16th. HC Wainwright restated a "buy" rating and set a $20.00 price objective on shares of Alphatec in a research report 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 report on Friday, May 2nd. Finally, Needham & Company LLC restated a "buy" rating and set a $16.00 price objective on shares of Alphatec in a research report on Friday, May 2nd. Two investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price 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.