abrdn plc Lowers Stock Position in Alphatec Holdings, Inc. (NASDAQ:ATEC)

abrdn plc reduced its position in shares of Alphatec Holdings, Inc. (NASDAQ:ATEC - Free Report) by 10.0% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,245,096 shares of the medical technology company's stock after selling 137,674 shares during the quarter. abrdn plc owned 0.91% of Alphatec worth $18,813,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in ATEC. AE Wealth Management LLC bought a new position in shares of Alphatec during the 3rd quarter worth approximately $423,000. Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in shares of Alphatec by 23.8% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 12,120 shares of the medical technology company's stock worth $157,000 after buying an additional 2,331 shares during the period. BluePath Capital Management LLC acquired a new position in Alphatec in the 3rd quarter valued at about $29,000. Mirae Asset Global Investments Co. Ltd. raised its holdings in Alphatec by 10.4% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 44,509 shares of the medical technology company's stock valued at $577,000 after acquiring an additional 4,210 shares during the period. Finally, Allspring Global Investments Holdings LLC lifted its position in Alphatec by 140.7% during the third quarter. Allspring Global Investments Holdings LLC now owns 13,797 shares of the medical technology company's stock worth $179,000 after acquiring an additional 8,065 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, CFO John Todd Koning sold 121,601 shares of the company's stock in a transaction that occurred on Friday, March 1st. The shares were sold at an average price of $13.30, for a total value of $1,617,293.30. Following the completion of the transaction, the chief financial officer now directly owns 430,856 shares in the company, valued at approximately $5,730,384.80. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. In other Alphatec news, EVP David Sponsel sold 2,500 shares of the stock in a transaction that occurred on Wednesday, February 14th. The shares were sold at an average price of $16.16, for a total transaction of $40,400.00. Following the completion of the sale, the executive vice president now owns 637,418 shares of the company's stock, valued at approximately $10,300,674.88. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO John Todd Koning sold 121,601 shares of the firm's stock in a transaction that occurred on Friday, March 1st. The stock was sold at an average price of $13.30, for a total transaction of $1,617,293.30. Following the transaction, the chief financial officer now owns 430,856 shares of the company's stock, valued at approximately $5,730,384.80. The disclosure for this sale can be found here. Insiders have sold a total of 247,569 shares of company stock valued at $3,490,745 in the last 90 days. 29.12% of the stock is owned by corporate insiders.

Alphatec Price Performance

NASDAQ ATEC traded down $0.50 on Thursday, hitting $12.24. 1,341,175 shares of the company's stock were exchanged, compared to its average volume of 1,618,758. The stock has a 50-day moving average of $13.76 and a 200-day moving average of $13.47. The stock has a market cap of $1.69 billion, a price-to-earnings ratio of -7.99 and a beta of 1.55. Alphatec Holdings, Inc. has a 52 week low of $8.66 and a 52 week high of $19.14. The company has a current ratio of 2.86, a quick ratio of 1.99 and a debt-to-equity ratio of 6.54.

Alphatec (NASDAQ:ATEC - Get Free Report) last announced its quarterly earnings data on Tuesday, February 27th. The medical technology company reported ($0.37) earnings per share for the quarter, missing the consensus estimate of ($0.28) by ($0.09). The company had revenue of $138.00 million during the quarter, compared to analyst estimates of $131.90 million. During the same period in the prior year, the company posted ($0.33) EPS. The firm's revenue was up 30.3% compared to the same quarter last year. Analysts expect that Alphatec Holdings, Inc. will post -1.1 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on the company. Wells Fargo & Company began coverage on Alphatec in a research report on Friday, February 9th. They issued an "overweight" rating and a $26.00 target price on the stock. Needham & Company LLC lifted their target price on Alphatec from $22.00 to $23.00 and gave the stock a "buy" rating in a report on Thursday, March 28th. HC Wainwright restated a "buy" rating and issued a $20.00 price target on shares of Alphatec in a research note on Monday, March 4th. Finally, Canaccord Genuity Group reiterated a "buy" rating and issued a $25.00 price objective on shares of Alphatec in a research note on Wednesday, March 20th. One analyst has rated the stock with a sell rating and seven have given a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus 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.