New York State Common Retirement Fund Lowers Position in Alphatec Holdings, Inc. (NASDAQ:ATEC)

New York State Common Retirement Fund decreased its stake in shares of Alphatec Holdings, Inc. (NASDAQ:ATEC - Free Report) by 7.4% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 814,815 shares of the medical technology company's stock after selling 65,015 shares during the period. New York State Common Retirement Fund owned 0.60% of Alphatec worth $12,312,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in ATEC. AE Wealth Management LLC acquired a new position in Alphatec during the 3rd quarter valued at about $423,000. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in shares of Alphatec by 23.8% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 12,120 shares of the medical technology company's stock valued at $157,000 after acquiring an additional 2,331 shares during the last quarter. BluePath Capital Management LLC bought a new stake in shares of Alphatec in the 3rd quarter valued at about $29,000. Mirae Asset Global Investments Co. Ltd. increased its stake in shares of 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 last quarter. Finally, Allspring Global Investments Holdings LLC increased its stake in shares of Alphatec by 140.7% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 13,797 shares of the medical technology company's stock valued at $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.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on ATEC. Needham & Company LLC upped their price target on Alphatec from $22.00 to $23.00 and gave the company a "buy" rating in a research note on Thursday, March 28th. HC Wainwright reissued a "buy" rating and set a $20.00 target price on shares of Alphatec in a research note on Monday, March 4th. Canaccord Genuity Group reissued a "buy" rating and set a $25.00 target price on shares of Alphatec in a research note on Wednesday, March 20th. Finally, Wells Fargo & Company initiated coverage on shares of Alphatec in a research note on Friday, February 9th. They set an "overweight" rating and a $26.00 price target for the company. One investment 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 company presently has a consensus rating of "Moderate Buy" and a consensus price target of $23.63.

Insider Transactions at Alphatec

In other Alphatec news, EVP Craig E. Hunsaker sold 41,560 shares of the stock in a transaction that occurred on Monday, February 26th. The shares were sold at an average price of $15.05, for a total transaction of $625,478.00. Following the transaction, the executive vice president now directly owns 1,188,444 shares in the company, valued at $17,886,082.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, EVP Craig E. Hunsaker sold 41,560 shares of the firm's stock in a transaction on Monday, February 26th. The stock was sold at an average price of $15.05, for a total value of $625,478.00. Following the completion of the sale, the executive vice president now owns 1,188,444 shares of the company's stock, valued at $17,886,082.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, General Counsel Tyson Eliot Marshall sold 11,825 shares of the firm's stock in a transaction on Friday, March 1st. The shares were sold at an average price of $13.30, for a total value of $157,272.50. Following the transaction, the general counsel now directly owns 305,095 shares of the company's stock, valued at approximately $4,057,763.50. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 285,069 shares of company stock valued at $3,971,495. 29.12% of the stock is currently owned by corporate insiders.

Alphatec Price Performance

ATEC stock traded up $0.35 during midday trading on Wednesday, reaching $12.97. 1,157,002 shares of the company's stock traded hands, compared to its average volume of 1,601,989. The firm's fifty day moving average price is $13.52 and its 200-day moving average price is $13.51. The company has a debt-to-equity ratio of 6.54, a quick ratio of 1.99 and a current ratio of 2.86. Alphatec Holdings, Inc. has a 52 week low of $8.66 and a 52 week high of $19.14.

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

About Alphatec

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.