Northern Trust Corp Buys 108,959 Shares of Alphatec Holdings, Inc. (NASDAQ:ATEC)

Northern Trust Corp boosted its holdings in Alphatec Holdings, Inc. (NASDAQ:ATEC - Free Report) by 12.0% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 1,014,743 shares of the medical technology company's stock after purchasing an additional 108,959 shares during the quarter. Northern Trust Corp owned about 0.72% of Alphatec worth $9,315,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in the business. Vanguard Group Inc. increased its holdings in Alphatec by 0.8% in the fourth quarter. Vanguard Group Inc. now owns 5,968,980 shares of the medical technology company's stock worth $54,795,000 after purchasing an additional 47,797 shares in the last quarter. American Century Companies Inc. increased its holdings in Alphatec by 36.5% in the fourth quarter. American Century Companies Inc. now owns 4,989,057 shares of the medical technology company's stock worth $45,800,000 after purchasing an additional 1,334,780 shares in the last quarter. Geode Capital Management LLC increased its holdings in Alphatec by 1.0% in the fourth quarter. Geode Capital Management LLC now owns 2,387,162 shares of the medical technology company's stock worth $21,919,000 after purchasing an additional 24,283 shares in the last quarter. Marshall Wace LLP increased its holdings in Alphatec by 139.2% in the fourth quarter. Marshall Wace LLP now owns 1,773,246 shares of the medical technology company's stock worth $16,278,000 after purchasing an additional 1,032,070 shares in the last quarter. Finally, Penn Capital Management Company LLC increased its holdings in Alphatec by 17.5% in the fourth quarter. Penn Capital Management Company LLC now owns 1,535,182 shares of the medical technology company's stock worth $14,093,000 after purchasing an additional 228,933 shares in the last quarter. 66.35% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other Alphatec news, CEO Patrick Miles sold 32,393 shares of the business's stock in a transaction on Wednesday, February 26th. The stock was sold at an average price of $10.89, for a total value of $352,759.77. Following the transaction, the chief executive officer now owns 5,940,391 shares of the company's stock, valued at approximately $64,690,857.99. The trade was a 0.54% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP David Sponsel sold 12,946 shares of the business's stock in a transaction on Monday, February 24th. The stock was sold at an average price of $10.73, for a total value of $138,910.58. Following the completion of the transaction, the executive vice president now directly owns 722,128 shares in the company, valued at approximately $7,748,433.44. This represents a 1.76% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 182,320 shares of company stock valued at $2,136,227. Insiders own 22.80% of the company's stock.

Alphatec Stock Down 0.2%

Shares of NASDAQ:ATEC traded down $0.03 during mid-day trading on Friday, hitting $12.45. 1,300,728 shares of the company traded hands, compared to its average volume of 2,038,973. The stock has a market cap of $1.82 billion, a P/E ratio of -9.73 and a beta of 1.06. The company has a current ratio of 2.32, a quick ratio of 1.15 and a debt-to-equity ratio of 30.21. 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 price of $11.06 and a two-hundred day moving average price of $10.53.

Alphatec (NASDAQ:ATEC - Get Free Report) last announced its earnings results on Thursday, May 1st. The medical technology company reported ($0.35) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.12) by ($0.23). Alphatec had a negative net margin of 31.06% and a negative return on equity of 541.39%. 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) EPS. The firm's quarterly revenue was up 22.2% on a year-over-year basis. On average, equities research analysts forecast that Alphatec Holdings, Inc. will post -1.08 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on the company. HC Wainwright reissued a "buy" rating and issued a $20.00 price objective on shares of Alphatec in a research note on Monday, April 14th. Needham & Company LLC reissued a "buy" rating and issued a $16.00 price objective on shares of Alphatec in a research note on Friday, May 2nd. Wall Street Zen raised Alphatec from a "sell" rating to a "hold" rating in a research note on Friday, February 28th. Finally, Piper Sandler reissued 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. Two investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company's stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $17.89.

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.