Artisan Partners Limited Partnership Decreases Holdings in Alphatec Holdings, Inc. (NASDAQ:ATEC)

Artisan Partners Limited Partnership decreased its holdings in shares of Alphatec Holdings, Inc. (NASDAQ:ATEC - Free Report) by 2.4% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,180,693 shares of the medical technology company's stock after selling 28,959 shares during the period. Artisan Partners Limited Partnership owned about 0.83% of Alphatec worth $10,839,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors also recently bought and sold shares of ATEC. PNC Financial Services Group Inc. boosted its stake in Alphatec by 0.4% in the 4th quarter. PNC Financial Services Group Inc. now owns 312,954 shares of the medical technology company's stock worth $2,873,000 after purchasing an additional 1,120 shares during the period. Rhumbline Advisers increased its holdings in Alphatec by 1.3% in the 4th 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 during the last quarter. Swiss National Bank lifted its stake in Alphatec by 1.1% in the 4th quarter. Swiss National Bank now owns 207,200 shares of the medical technology company's stock worth $1,902,000 after purchasing an additional 2,300 shares in the last quarter. R Squared Ltd bought a new position in shares of Alphatec during the 4th quarter valued at about $29,000. Finally, Mitsubishi UFJ Asset Management Co. Ltd. grew its position in shares of Alphatec by 9.4% during the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 38,942 shares of the medical technology company's stock valued at $365,000 after purchasing an additional 3,336 shares in the last quarter. 66.35% of the stock is owned by institutional investors.

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Insiders Place Their Bets

In other Alphatec news, EVP David Sponsel sold 58,283 shares of the stock in a transaction that occurred on Monday, January 13th. The shares were sold at an average price of $10.71, for a total value of $624,210.93. Following the transaction, the executive vice president now directly owns 502,311 shares in the company, valued at $5,379,750.81. This represents a 10.40 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Patrick Miles sold 50,000 shares of Alphatec stock in a transaction dated Wednesday, January 29th. The stock was sold at an average price of $12.03, for a total value of $601,500.00. Following the sale, the chief executive officer now owns 6,152,544 shares in the company, valued at $74,015,104.32. This trade represents a 0.81 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 337,321 shares of company stock worth $3,828,060 in the last quarter. 22.80% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

ATEC has been the topic of a number of recent research reports. Needham & Company LLC reaffirmed a "buy" rating and set a $16.00 price target on shares of Alphatec in a research note on Thursday, February 27th. StockNews.com raised Alphatec from a "sell" rating to a "hold" rating in a research note on Friday, February 28th. Barclays increased their price target on Alphatec from $20.00 to $21.00 and gave the company an "overweight" rating in a report on Wednesday, January 22nd. HC Wainwright reissued a "buy" rating and issued a $20.00 target price on shares of Alphatec in a research note on Tuesday, January 14th. Finally, Piper Sandler lifted their price target on shares of Alphatec from $12.00 to $13.00 and gave the stock an "overweight" rating in a research note on Thursday, February 27th. Two investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $17.67.

Alphatec Price Performance

Shares of Alphatec stock traded up $0.33 on Wednesday, hitting $10.41. 727,445 shares of the company were exchanged, compared to its average volume of 1,977,455. Alphatec Holdings, Inc. has a 1-year low of $4.88 and a 1-year high of $14.54. The company has a quick ratio of 1.15, a current ratio of 2.32 and a debt-to-equity ratio of 30.21. The company has a 50-day moving average price of $10.80 and a 200 day moving average price of $9.08. The stock has a market capitalization of $1.50 billion, a price-to-earnings ratio of -8.13 and a beta of 1.39.

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