Cerity Partners LLC Makes New $28.45 Million Investment in Alphatec Holdings, Inc. (NASDAQ:ATEC)

Cerity Partners LLC acquired a new stake in Alphatec Holdings, Inc. (NASDAQ:ATEC - Free Report) in the 4th quarter, according to the company in its most recent filing with the SEC. The fund acquired 1,882,908 shares of the medical technology company's stock, valued at approximately $28,451,000. Cerity Partners LLC owned approximately 1.38% of Alphatec as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of ATEC. Millennium Management LLC boosted its holdings in Alphatec by 103.9% in the fourth quarter. Millennium Management LLC now owns 2,767,887 shares of the medical technology company's stock worth $34,183,000 after acquiring an additional 1,410,693 shares in the last quarter. abrdn plc grew its position in Alphatec by 276.7% in the 3rd quarter. abrdn plc now owns 1,382,770 shares of the medical technology company's stock valued at $17,935,000 after purchasing an additional 1,015,668 shares during the period. Fred Alger Management LLC grew its position in Alphatec by 48.9% in the 3rd quarter. Fred Alger Management LLC now owns 2,336,718 shares of the medical technology company's stock valued at $30,307,000 after purchasing an additional 767,280 shares during the period. Intrinsic Edge Capital Management LLC bought a new stake in Alphatec during the 1st quarter valued at $10,296,000. Finally, American Century Companies Inc. raised its holdings in Alphatec by 24.5% during the third quarter. American Century Companies Inc. now owns 2,655,328 shares of the medical technology company's stock worth $34,440,000 after buying an additional 523,323 shares during the last quarter. Institutional investors and hedge funds own 66.35% of the company's stock.

Insider Activity at Alphatec

In other Alphatec news, General Counsel Tyson Eliot Marshall sold 11,825 shares of the firm's stock in a transaction on Friday, March 1st. The stock was sold at an average price of $13.30, for a total value of $157,272.50. Following the completion of the sale, the general counsel now directly owns 305,095 shares of the company's stock, valued at $4,057,763.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other Alphatec news, Director Quentin S. Blackford bought 20,000 shares of the stock in a transaction on Thursday, March 7th. The shares were acquired at an average price of $12.83 per share, with a total value of $256,600.00. Following the acquisition, the director now directly owns 572,605 shares of the company's stock, valued at approximately $7,346,522.15. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, General Counsel Tyson Eliot Marshall sold 11,825 shares of the firm's stock in a transaction on Friday, March 1st. The stock was sold at an average price of $13.30, for a total value of $157,272.50. Following the completion of the transaction, the general counsel now directly owns 305,095 shares of the company's stock, valued at $4,057,763.50. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 250,069 shares of company stock worth $3,528,245. Insiders own 29.12% of the company's stock.

Alphatec Stock Performance

Alphatec stock traded down $0.48 during mid-day trading on Friday, reaching $13.30. 1,359,090 shares of the company's stock were exchanged, compared to its average volume of 1,802,450. The firm has a market capitalization of $1.84 billion, a PE ratio of -8.58 and a beta of 1.55. The company has a quick ratio of 1.99, a current ratio of 2.86 and a debt-to-equity ratio of 6.54. The business's fifty day simple moving average is $14.33 and its 200 day simple moving average is $13.43. Alphatec Holdings, Inc. has a one year low of $8.66 and a one year high of $19.14.

Alphatec (NASDAQ:ATEC - Get Free Report) last issued its quarterly earnings results on Tuesday, February 27th. The medical technology company reported ($0.37) earnings per share for the quarter, missing analysts' consensus estimates of ($0.28) by ($0.09). The company had revenue of $138.00 million for the quarter, compared to the consensus estimate of $131.90 million. The business's revenue was up 30.3% compared to the same quarter last year. During the same quarter in the prior year, the business earned ($0.33) earnings per share. On average, sell-side analysts expect that Alphatec Holdings, Inc. will post -1.1 earnings per share for the current year.

Wall Street Analyst Weigh In

ATEC has been the topic of several recent research reports. Needham & Company LLC raised their price target on shares of Alphatec from $22.00 to $23.00 and gave the company a "buy" rating in a research report on Thursday, March 28th. Wells Fargo & Company initiated coverage on Alphatec in a report on Friday, February 9th. They issued an "overweight" rating and a $26.00 target price on the stock. Canaccord Genuity Group reiterated a "buy" rating and set a $25.00 price target on shares of Alphatec in a report on Wednesday, March 20th. Finally, HC Wainwright restated a "buy" rating and set a $20.00 price objective on shares of Alphatec in a research note on Monday, March 4th. One equities research analyst has rated the stock with a sell rating and seven have given a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $23.63.

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.