Alphatec Holdings, Inc. (NASDAQ:ATEC) Shares Sold by HBK Sorce Advisory LLC

HBK Sorce Advisory LLC trimmed its holdings in Alphatec Holdings, Inc. (NASDAQ:ATEC - Free Report) by 63.7% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 28,535 shares of the medical technology company's stock after selling 50,000 shares during the period. HBK Sorce Advisory LLC's holdings in Alphatec were worth $289,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also recently added to or reduced their stakes in the business. Lido Advisors LLC grew its stake in Alphatec by 8.4% in the 4th 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 during the last quarter. PNC Financial Services Group Inc. grew its stake in Alphatec by 0.4% in the 4th 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 during the last quarter. Comerica Bank grew its stake in 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 acquiring an additional 1,248 shares during the last quarter. Summit Investment Advisors Inc. grew its stake in Alphatec by 14.1% in the 4th quarter. Summit Investment Advisors Inc. now owns 10,890 shares of the medical technology company's stock valued at $100,000 after acquiring an additional 1,342 shares during the last quarter. Finally, Oppenheimer Asset Management Inc. raised its stake in Alphatec by 13.4% in the 1st quarter. Oppenheimer Asset Management Inc. now owns 13,144 shares of the medical technology company's stock valued at $133,000 after purchasing an additional 1,552 shares during the last quarter. 66.35% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Alphatec news, EVP Craig E. Hunsaker sold 186,122 shares of the company's stock in a transaction that occurred on Wednesday, June 4th. The stock was sold at an average price of $12.34, for a total value of $2,296,745.48. Following the completion of the transaction, the executive vice president owned 1,463,896 shares in the company, valued at $18,064,476.64. This represents a 11.28% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Karen K. Mcginnis sold 3,963 shares of the company's stock in a transaction that occurred on Wednesday, June 11th. The shares were sold at an average price of $12.11, for a total value of $47,991.93. Following the completion of the transaction, the director directly owned 68,709 shares in the company, valued at approximately $832,065.99. The trade was a 5.45% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 294,065 shares of company stock worth $3,633,172 in the last 90 days. 22.80% of the stock is owned by company insiders.

Analyst Ratings Changes

Several research analysts recently weighed in on ATEC shares. HC Wainwright reissued a "buy" rating and issued a $20.00 target price on shares of Alphatec in a research note on Monday, April 14th. Needham & Company LLC reissued a "buy" rating and issued a $16.00 target price on shares of Alphatec in a research note on Friday, May 2nd. Piper Sandler restated an "overweight" rating and issued a $15.00 price target (up previously from $13.00) 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 target for the company in a report on Monday, June 16th. Two research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat, Alphatec has a consensus rating of "Moderate Buy" and a consensus target price of $17.89.

Alphatec Stock Performance

Shares of NASDAQ:ATEC traded down $0.17 during trading on Tuesday, reaching $10.93. 1,706,684 shares of the stock were exchanged, compared to its average volume of 2,062,932. Alphatec Holdings, Inc. has a 12-month low of $4.88 and a 12-month high of $13.14. The firm has a market cap of $1.60 billion, a price-to-earnings ratio of -9.50 and a beta of 1.05. The firm's 50-day moving average price is $11.89 and its 200 day moving average price is $10.92.

Alphatec (NASDAQ:ATEC - Get Free Report) last issued 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 for 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 firm's revenue for the quarter was up 22.2% compared to the same quarter last year. During the same quarter in the previous year, the firm posted ($0.34) EPS. As a group, equities research analysts forecast that Alphatec Holdings, Inc. will post -1.08 EPS for the current year.

Alphatec Company 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.