Walleye Capital LLC Lowers Stock Holdings in Alphatec Holdings, Inc. (NASDAQ:ATEC)

Walleye Capital LLC trimmed its holdings in Alphatec Holdings, Inc. (NASDAQ:ATEC - Free Report) by 4.2% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 1,016,509 shares of the medical technology company's stock after selling 44,953 shares during the period. Walleye Capital LLC owned 0.72% of Alphatec worth $9,332,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also bought and sold shares of the company. R Squared Ltd acquired a new position in Alphatec during the fourth quarter worth $29,000. Nisa Investment Advisors LLC grew its position 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 in the last quarter. Newton One Investments LLC purchased a new stake in Alphatec during the fourth quarter worth about $50,000. XTX Topco Ltd acquired a new stake in shares of Alphatec during the third quarter worth about $69,000. Finally, AlphaQuest LLC purchased a new position in shares of Alphatec in the fourth quarter valued at approximately $80,000. 66.35% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

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

Alphatec Price Performance

Shares of NASDAQ ATEC traded down $0.35 during trading on Monday, hitting $10.21. 204,841 shares of the company were exchanged, compared to its average volume of 2,037,058. 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 Holdings, Inc. has a 1 year low of $4.88 and a 1 year high of $13.79. The company has a market cap of $1.47 billion, a price-to-earnings ratio of -7.98 and a beta of 1.20. The firm's fifty day moving average price is $10.37 and its 200 day moving average price is $9.51.

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

Insider Activity

In other Alphatec news, CEO Patrick Miles sold 6,687 shares of the company's stock in a transaction dated Tuesday, January 21st. The shares were sold at an average price of $12.00, for a total value of $80,244.00. Following the sale, the chief executive officer now owns 5,501,715 shares of the company's stock, valued at $66,020,580. This represents a 0.12 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP David Sponsel sold 36,256 shares of Alphatec stock in a transaction that occurred 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 owns 735,074 shares of the company's stock, valued at $8,394,545.08. This represents a 4.70 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 278,800 shares of company stock worth $3,201,469 over the last 90 days. 22.80% of the stock is currently owned by corporate insiders.

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.