Parkman Healthcare Partners LLC Lowers Holdings in Alphatec Holdings, Inc. (NASDAQ:ATEC)

Parkman Healthcare Partners LLC trimmed its holdings in Alphatec Holdings, Inc. (NASDAQ:ATEC - Free Report) by 42.4% in the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 228,334 shares of the medical technology company's stock after selling 168,002 shares during the period. Parkman Healthcare Partners LLC owned approximately 0.16% of Alphatec worth $2,096,000 at the end of the most recent quarter.

Other hedge funds also recently added to or reduced their stakes in the company. Congress Asset Management Co. lifted its stake in Alphatec by 235.4% during the fourth quarter. Congress Asset Management Co. now owns 434,966 shares of the medical technology company's stock worth $3,993,000 after purchasing an additional 305,296 shares in the last quarter. Barclays PLC raised its stake in shares of Alphatec by 362.3% in the third quarter. Barclays PLC now owns 170,546 shares of the medical technology company's stock valued at $948,000 after acquiring an additional 133,653 shares in the last quarter. Rhumbline Advisers raised its stake in shares of Alphatec by 1.3% in the fourth quarter. Rhumbline Advisers now owns 139,088 shares of the medical technology company's stock valued at $1,277,000 after acquiring an additional 1,746 shares in the last quarter. Russell Investments Group Ltd. raised its stake in shares of Alphatec by 20.0% in the fourth quarter. Russell Investments Group Ltd. now owns 199,886 shares of the medical technology company's stock valued at $1,835,000 after acquiring an additional 33,362 shares in the last quarter. Finally, Nisa Investment Advisors LLC raised its stake in shares of Alphatec by 973.3% in the fourth quarter. Nisa Investment Advisors LLC now owns 4,669 shares of the medical technology company's stock valued at $43,000 after acquiring an additional 4,234 shares in the last quarter. 66.35% of the stock is currently owned by hedge funds and other institutional investors.

Alphatec Stock Up 0.4%

Alphatec stock opened at $12.72 on Wednesday. The stock's fifty day moving average is $10.56 and its two-hundred day moving average is $10.23. The stock has a market cap of $1.86 billion, a PE ratio of -9.94 and a beta of 1.06. Alphatec Holdings, Inc. has a 1-year low of $4.88 and a 1-year high of $12.85. The company has a debt-to-equity ratio of 30.21, a current ratio of 2.32 and a quick ratio of 1.15.

Alphatec (NASDAQ:ATEC - Get Free Report) last posted its earnings results on Thursday, May 1st. The medical technology company reported ($0.35) EPS for the quarter, missing analysts' consensus estimates of ($0.12) by ($0.23). Alphatec had a negative return on equity of 541.39% and a negative net margin of 31.06%. The firm had revenue of $169.18 million for the quarter, compared to analyst estimates of $167.57 million. During the same quarter last year, the firm posted ($0.34) EPS. The firm's revenue for the quarter was up 22.2% on a year-over-year basis. On average, sell-side analysts expect that Alphatec Holdings, Inc. will post -1.08 EPS for the current fiscal year.

Insider Transactions at Alphatec

In other news, COO Scott Lish sold 12,000 shares of Alphatec stock in a transaction dated Monday, May 5th. The stock was sold at an average price of $12.12, for a total transaction of $145,440.00. Following the sale, the chief operating officer now owns 826,251 shares in the company, valued at approximately $10,014,162.12. The trade was a 1.43% 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 33,732 shares of Alphatec stock in a transaction dated Thursday, March 6th. The stock was sold at an average price of $10.83, for a total value of $365,317.56. Following the sale, the executive vice president now owns 668,977 shares in the company, valued at $7,245,020.91. This trade represents a 4.80% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 126,945 shares of company stock worth $1,416,352. Corporate insiders own 20.90% of the company's stock.

Analyst Ratings Changes

ATEC has been the topic of several analyst reports. Needham & Company LLC reiterated a "buy" rating and issued a $16.00 price objective on shares of Alphatec in a research note on Friday, May 2nd. Barclays raised their price target on Alphatec from $20.00 to $21.00 and gave the company an "overweight" rating in a research note on Wednesday, January 22nd. StockNews.com upgraded Alphatec from a "sell" rating to a "hold" rating in a research note on Friday, February 28th. Piper Sandler restated an "overweight" rating and issued a $15.00 price target (up from $13.00) on shares of Alphatec in a research note on Friday, May 2nd. Finally, HC Wainwright restated a "buy" rating and issued a $20.00 price target on shares of Alphatec in a research note on Monday, April 14th. Two investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company's stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $17.89.

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.

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