Geode Capital Management LLC Has $21.92 Million Stock Holdings in Alphatec Holdings, Inc. (NASDAQ:ATEC)

Geode Capital Management LLC lifted its position in Alphatec Holdings, Inc. (NASDAQ:ATEC - Free Report) by 1.0% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 2,387,162 shares of the medical technology company's stock after buying an additional 24,283 shares during the period. Geode Capital Management LLC owned approximately 1.68% of Alphatec worth $21,919,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also bought and sold shares of ATEC. R Squared Ltd purchased a new stake in Alphatec during the fourth quarter worth $29,000. Nisa Investment Advisors LLC raised its holdings in Alphatec by 973.3% in the 4th 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 during the last quarter. Newton One Investments LLC purchased a new position in Alphatec during the fourth quarter worth approximately $50,000. XTX Topco Ltd purchased a new position in shares of Alphatec during the 3rd quarter worth $69,000. Finally, AlphaQuest LLC purchased a new position in Alphatec during the fourth quarter worth about $80,000. 66.35% of the stock is owned by hedge funds and other institutional investors.

Alphatec Stock Up 1.1 %

NASDAQ ATEC traded up $0.13 during mid-day trading on Thursday, reaching $11.34. 264,499 shares of the company's stock traded hands, compared to its average volume of 2,041,800. The company has a current ratio of 2.32, a quick ratio of 1.15 and a debt-to-equity ratio of 30.21. The company has a fifty day simple moving average of $10.38 and a 200-day simple moving average of $9.57. The company has a market cap of $1.63 billion, a price-to-earnings ratio of -8.84 and a beta of 1.20. Alphatec Holdings, Inc. has a 1-year low of $4.88 and a 1-year high of $13.79.

Alphatec (NASDAQ:ATEC - Get Free Report) last posted its quarterly earnings results on Wednesday, February 26th. The medical technology company reported ($0.23) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.19) by ($0.04). The business had revenue of $176.79 million during the quarter, compared to the consensus estimate of $172.74 million. Alphatec had a negative return on equity of 541.39% and a negative net margin of 31.06%. As a group, equities research analysts expect that Alphatec Holdings, Inc. will post -1.08 EPS for the current year.

Analyst Ratings Changes

Several equities analysts have recently commented on the stock. Barclays upped their price objective on shares of Alphatec from $20.00 to $21.00 and gave the stock an "overweight" rating in a report on Wednesday, January 22nd. Needham & Company LLC reissued a "buy" rating and set a $16.00 price objective on shares of Alphatec in a research report on Thursday, February 27th. HC Wainwright reissued a "buy" rating and issued a $20.00 target price on shares of Alphatec in a report on Monday, April 14th. StockNews.com upgraded shares of Alphatec from a "sell" rating to a "hold" rating in a research note on Friday, February 28th. Finally, Piper Sandler lifted their target price on Alphatec from $12.00 to $13.00 and gave the stock an "overweight" rating in a research report on Thursday, February 27th. Two analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $17.67.

Insider Transactions at Alphatec

In related news, EVP David Sponsel sold 36,256 shares of Alphatec stock in a transaction on Monday, February 3rd. The stock was sold at an average price of $11.42, for a total value of $414,043.52. Following the transaction, the executive vice president now directly owns 735,074 shares in the company, valued at $8,394,545.08. The trade was a 4.70 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Patrick Miles sold 50,000 shares of the company's stock in a transaction that occurred on Wednesday, January 29th. The shares were sold at an average price of $12.03, for a total transaction of $601,500.00. Following the completion of the sale, the chief executive officer now owns 6,152,544 shares of the company's stock, valued at approximately $74,015,104.32. This trade represents a 0.81 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 272,113 shares of company stock valued at $3,121,225. Company insiders own 22.80% of the company's stock.

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.