Wealth Enhancement Advisory Services LLC Has $608,000 Holdings in Alphatec Holdings, Inc. (NASDAQ:ATEC)

Wealth Enhancement Advisory Services LLC boosted its position in shares of Alphatec Holdings, Inc. (NASDAQ:ATEC - Free Report) by 301.0% in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 59,987 shares of the medical technology company's stock after acquiring an additional 45,027 shares during the quarter. Wealth Enhancement Advisory Services LLC's holdings in Alphatec were worth $608,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of ATEC. Bank of New York Mellon Corp boosted its stake in Alphatec by 119.3% during the fourth quarter. Bank of New York Mellon Corp now owns 662,239 shares of the medical technology company's stock valued at $6,079,000 after buying an additional 360,258 shares during the last quarter. Oppenheimer Asset Management Inc. bought a new position in Alphatec during the fourth quarter valued at approximately $106,000. Charles Schwab Investment Management Inc. boosted its stake in Alphatec by 2.8% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 846,224 shares of the medical technology company's stock valued at $7,768,000 after buying an additional 23,002 shares during the last quarter. Atria Investments Inc boosted its stake in Alphatec by 20.3% during the fourth quarter. Atria Investments Inc now owns 23,585 shares of the medical technology company's stock valued at $217,000 after buying an additional 3,976 shares during the last quarter. Finally, M&T Bank Corp bought a new position in Alphatec during the fourth quarter valued at approximately $170,000. Hedge funds and other institutional investors own 66.35% of the company's stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on ATEC. Lake Street Capital upgraded Alphatec to a "buy" rating and set a $18.00 price target on the stock in a report on Monday, June 16th. Piper Sandler reiterated an "overweight" rating and issued a $15.00 price target (up from $13.00) on shares of Alphatec in a report on Friday, May 2nd. Needham & Company LLC reiterated a "buy" rating and issued a $16.00 price target on shares of Alphatec in a report on Friday, May 2nd. Finally, HC Wainwright reiterated a "buy" rating and issued a $20.00 price target on shares of Alphatec in a report on Monday, April 14th. Two investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company's stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $17.89.

Insider Activity

In other Alphatec news, COO Scott Lish sold 55,375 shares of the firm'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 transaction, the chief operating officer directly owned 771,645 shares in the company, valued at $10,031,385. This trade represents a 6.70% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Karen K. Mcginnis sold 3,963 shares of the firm's stock in a transaction on Wednesday, June 11th. The shares were sold at an average price of $12.11, for a total transaction of $47,991.93. Following the completion of the transaction, the director owned 68,709 shares in the company, valued at $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 294,065 shares of company stock worth $3,633,172 over the last three months. Corporate insiders own 22.80% of the company's stock.

Alphatec Trading Up 6.1%

Shares of NASDAQ ATEC traded up $0.67 during midday trading on Tuesday, reaching $11.60. 2,331,321 shares of the company were exchanged, compared to its average volume of 2,070,706. Alphatec Holdings, Inc. has a 1 year low of $4.88 and a 1 year high of $13.14. The stock has a fifty day simple moving average of $11.87 and a 200 day simple moving average of $10.98. The stock has a market cap of $1.70 billion, a P/E ratio of -10.09 and a beta of 1.05.

Alphatec (NASDAQ:ATEC - Get Free Report) last posted 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). 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 analyst estimates of $167.57 million. During the same quarter in the previous year, the business posted ($0.34) earnings per share. Alphatec's revenue was up 22.2% on a year-over-year basis. As a group, analysts forecast that Alphatec Holdings, Inc. will post -1.08 earnings per share 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.