Cerity Partners LLC Has $18.85 Million Stake in Alphatec Holdings, Inc. (NASDAQ:ATEC)

Cerity Partners LLC boosted its stake in Alphatec Holdings, Inc. (NASDAQ:ATEC - Free Report) by 1.6% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,859,137 shares of the medical technology company's stock after buying an additional 30,072 shares during the quarter. Cerity Partners LLC owned approximately 1.29% of Alphatec worth $18,852,000 at the end of the most recent quarter.

Several other institutional investors have also bought and sold shares of ATEC. Comerica Bank raised its holdings in shares of Alphatec by 66.8% in the fourth 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 during the last quarter. Quarry LP raised its holdings in shares of Alphatec by 79.2% in the fourth 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 last quarter. Lazard Asset Management LLC bought a new stake in shares of Alphatec during the fourth quarter worth $76,000. AlphaQuest LLC bought a new stake in shares of Alphatec during the fourth quarter worth $80,000. Finally, State of Wyoming bought a new stake in shares of Alphatec during the fourth quarter worth $86,000. Institutional investors and hedge funds own 66.35% of the company's stock.

Insider Transactions at Alphatec

In related news, Director Karen K. Mcginnis sold 3,963 shares of the stock in a transaction that occurred on Wednesday, June 11th. The stock was sold at an average price of $12.11, for a total transaction of $47,991.93. Following the completion of the transaction, the director directly owned 68,709 shares of the company's stock, valued at approximately $832,065.99. This represents a 5.45% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, COO Scott Lish sold 55,375 shares of the stock in a transaction that occurred on Monday, May 19th. The shares were sold at an average price of $13.00, for a total value of $719,875.00. Following the transaction, the chief operating officer directly owned 771,645 shares of the company's stock, valued at $10,031,385. This trade represents a 6.70% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 299,547 shares of company stock valued at $3,698,956 over the last three months. Company insiders own 20.90% of the company's stock.

Alphatec Price Performance

Shares of Alphatec stock remained flat at $10.63 during trading hours on Thursday. The company's stock had a trading volume of 1,348,869 shares, compared to its average volume of 2,073,189. Alphatec Holdings, Inc. has a 12 month low of $4.88 and a 12 month high of $13.14. The stock has a 50 day simple moving average of $11.74 and a 200 day simple moving average of $11.06. The company has a market capitalization of $1.55 billion, a P/E ratio of -9.24 and a beta of 1.05.

Alphatec (NASDAQ:ATEC - Get Free Report) last posted its quarterly earnings data on Thursday, May 1st. The medical technology company reported ($0.35) earnings per share for the quarter, missing the consensus estimate of ($0.12) by ($0.23). The firm had revenue of $169.18 million for the quarter, compared to analyst estimates of $167.57 million. Alphatec had a negative return on equity of 1,657.19% and a negative net margin of 25.77%. The firm's quarterly revenue was up 22.2% on a year-over-year basis. During the same period in the prior year, the company earned ($0.34) earnings per share. As a group, research analysts anticipate that Alphatec Holdings, Inc. will post -1.08 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on ATEC shares. Piper Sandler restated an "overweight" rating and set a $15.00 target price (up previously from $13.00) on shares of Alphatec in a research report on Friday, May 2nd. HC Wainwright reiterated a "buy" rating and issued a $20.00 price objective on shares of Alphatec in a report on Monday, April 14th. Needham & Company LLC reiterated a "buy" rating and issued a $16.00 price objective on shares of Alphatec in a report on Friday, May 2nd. Finally, Lake Street Capital upgraded Alphatec to a "buy" rating and set a $18.00 price objective for the company in a report on Monday, June 16th. Two research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $18.13.

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.