Emerald Advisers LLC Acquires 167,416 Shares of Alphatec Holdings, Inc. (NASDAQ:ATEC)

Emerald Advisers LLC boosted its stake in Alphatec Holdings, Inc. (NASDAQ:ATEC - Free Report) by 11.5% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,623,449 shares of the medical technology company's stock after acquiring an additional 167,416 shares during the period. Emerald Advisers LLC owned 1.11% of Alphatec worth $16,462,000 at the end of the most recent reporting period.

Several other large investors have also added to or reduced their stakes in the stock. Lido Advisors LLC boosted its holdings in Alphatec by 8.4% in the fourth quarter. Lido Advisors LLC now owns 12,247 shares of the medical technology company's stock valued at $112,000 after acquiring an additional 953 shares in the last quarter. PNC Financial Services Group Inc. boosted its holdings in Alphatec by 0.4% in the fourth quarter. PNC Financial Services Group Inc. now owns 312,954 shares of the medical technology company's stock valued at $2,873,000 after acquiring an additional 1,120 shares in the last quarter. Comerica Bank boosted its holdings in 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 acquiring an additional 1,248 shares in the last quarter. Summit Investment Advisors Inc. lifted its position in Alphatec by 14.1% during the fourth quarter. Summit Investment Advisors Inc. now owns 10,890 shares of the medical technology company's stock valued at $100,000 after buying an additional 1,342 shares during the period. Finally, Oppenheimer Asset Management Inc. lifted its position in Alphatec by 13.4% during the first quarter. Oppenheimer Asset Management Inc. now owns 13,144 shares of the medical technology company's stock valued at $133,000 after buying an additional 1,552 shares during the period. Institutional investors own 66.35% of the company's stock.

Analysts Set New Price Targets

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

Alphatec Stock Down 0.7%

Shares of NASDAQ ATEC traded down $0.08 during trading on Wednesday, reaching $10.63. 1,702,304 shares of the company traded hands, compared to its average volume of 2,069,193. The firm has a 50 day simple moving average of $11.82 and a 200-day simple moving average of $11.05. Alphatec Holdings, Inc. has a 52-week low of $4.88 and a 52-week high of $13.14. The stock has a market capitalization of $1.55 billion, a PE ratio of -9.24 and a beta of 1.05.

Alphatec (NASDAQ:ATEC - Get Free Report) last released 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). Alphatec had a negative net margin of 25.77% and a negative return on equity of 1,657.19%. The company had revenue of $169.18 million for the quarter, compared to analysts' expectations of $167.57 million. During the same period in the previous year, the firm earned ($0.34) earnings per share. The firm's revenue for the quarter was up 22.2% on a year-over-year basis. As a group, research analysts predict that Alphatec Holdings, Inc. will post -1.08 EPS for the current year.

Insider Activity

In other Alphatec news, COO Scott Lish sold 55,375 shares of the business's stock in a transaction dated Monday, May 19th. The stock was sold at an average price of $13.00, for a total transaction of $719,875.00. Following the completion of the sale, the chief operating officer directly owned 771,645 shares in the company, valued at $10,031,385. The trade was a 6.70% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Karen K. Mcginnis sold 3,963 shares of the business's stock in a transaction dated Wednesday, June 11th. The shares were sold at an average price of $12.11, for a total value of $47,991.93. Following the sale, the director 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 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. Insiders own 22.80% of the company's stock.

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.