CX Institutional Takes $275,000 Position in Alphatec Holdings, Inc. (NASDAQ:ATEC)

CX Institutional purchased a new stake in shares of Alphatec Holdings, Inc. (NASDAQ:ATEC - Free Report) in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 27,080 shares of the medical technology company's stock, valued at approximately $275,000.

Several other large investors have also recently modified their holdings of the stock. Comerica Bank lifted its stake in shares of Alphatec by 66.8% in the 4th quarter. Comerica Bank now owns 3,116 shares of the medical technology company's stock valued at $29,000 after purchasing an additional 1,248 shares during the period. Quarry LP lifted its position in Alphatec by 79.2% in the 4th quarter. Quarry LP now owns 5,374 shares of the medical technology company's stock valued at $49,000 after acquiring an additional 2,375 shares in the last quarter. Lazard Asset Management LLC purchased a new stake in shares of Alphatec during the fourth quarter valued at $76,000. AlphaQuest LLC bought a new stake in shares of Alphatec in the fourth quarter worth approximately $80,000. Finally, State of Wyoming bought a new stake in Alphatec in the 4th quarter worth approximately $86,000. Hedge funds and other institutional investors own 66.35% of the company's stock.

Analyst Ratings Changes

A number of research analysts have weighed in on ATEC shares. Lake Street Capital raised Alphatec to a "buy" rating and set a $18.00 target price on the stock in a report on Monday. Piper Sandler reiterated an "overweight" rating and issued a $15.00 price objective (up previously from $13.00) on shares of Alphatec in a research note on Friday, May 2nd. Needham & Company LLC reaffirmed a "buy" rating and set a $16.00 target price on shares of Alphatec in a report on Friday, May 2nd. Wall Street Zen upgraded shares of Alphatec from a "sell" rating to a "hold" rating in a research note on Friday, February 28th. Finally, HC Wainwright restated a "buy" rating and issued a $20.00 price objective on shares of Alphatec in a research note on Monday, April 14th. Two equities 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 stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $17.89.

Alphatec Stock Performance

Shares of NASDAQ ATEC traded up $0.08 during midday trading on Wednesday, reaching $10.93. The stock had a trading volume of 598,054 shares, compared to its average volume of 2,053,303. The company has a market capitalization of $1.60 billion, a price-to-earnings ratio of -9.48 and a beta of 1.10. 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 moving average of $11.73 and a 200-day moving average of $10.83.

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 business 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 company's quarterly revenue was up 22.2% on a year-over-year basis. During the same quarter in the previous year, the company posted ($0.34) EPS. As a group, analysts forecast that Alphatec Holdings, Inc. will post -1.08 EPS for the current fiscal year.

Insider Buying and Selling

In other Alphatec news, COO Scott Lish sold 22,727 shares of the stock in a transaction dated Friday, June 13th. The shares were sold at an average price of $11.07, for a total transaction of $251,587.89. Following the completion of the transaction, the chief operating officer now owns 748,918 shares of the company's stock, valued at $8,290,522.26. This represents a 2.95% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Craig E. Hunsaker sold 13,878 shares of the business's stock in a transaction dated Thursday, June 5th. The stock was sold at an average price of $12.36, for a total value of $171,532.08. Following the completion of the sale, the executive vice president now owns 1,450,018 shares in the company, valued at $17,922,222.48. This represents a 0.95% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 294,065 shares of company stock worth $3,633,172. 22.80% of the stock is owned by corporate insiders.

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.