Bank of New York Mellon Corp Has $6.08 Million Stake in Alphatec Holdings, Inc. (NASDAQ:ATEC)

Bank of New York Mellon Corp boosted its position in Alphatec Holdings, Inc. (NASDAQ:ATEC - Free Report) by 119.3% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 662,239 shares of the medical technology company's stock after acquiring an additional 360,258 shares during the quarter. Bank of New York Mellon Corp owned 0.47% of Alphatec worth $6,079,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. State Street Corp raised its holdings in shares of Alphatec by 10.1% during the 3rd quarter. State Street Corp now owns 3,138,960 shares of the medical technology company's stock worth $17,453,000 after buying an additional 287,350 shares in the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. raised its stake in Alphatec by 11.3% during the third quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 2,928,094 shares of the medical technology company's stock worth $16,280,000 after acquiring an additional 297,850 shares in the last quarter. Royce & Associates LP lifted its holdings in shares of Alphatec by 15.9% in the third quarter. Royce & Associates LP now owns 1,212,286 shares of the medical technology company's stock worth $6,740,000 after acquiring an additional 165,954 shares during the last quarter. New York State Common Retirement Fund boosted its stake in shares of Alphatec by 21.2% in the 4th quarter. New York State Common Retirement Fund now owns 1,202,334 shares of the medical technology company's stock valued at $11,037,000 after purchasing an additional 210,519 shares in the last quarter. Finally, Walleye Capital LLC grew its holdings in shares of Alphatec by 3.2% during the 3rd quarter. Walleye Capital LLC now owns 1,061,462 shares of the medical technology company's stock valued at $5,902,000 after purchasing an additional 32,529 shares during the last quarter. 66.35% of the stock is currently owned by institutional investors.

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Analysts Set New Price Targets

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

Alphatec Trading Up 6.8 %

Shares of NASDAQ:ATEC traded up $0.65 during trading on Thursday, reaching $10.19. The stock had a trading volume of 1,124,418 shares, compared to its average volume of 1,974,185. Alphatec Holdings, Inc. has a 52 week low of $4.88 and a 52 week high of $14.88. The company has a debt-to-equity ratio of 30.21, a quick ratio of 1.15 and a current ratio of 2.32. The firm's fifty day moving average is $10.95 and its 200 day moving average is $8.80. The stock has a market cap of $1.47 billion, a price-to-earnings ratio of -7.96 and a beta of 1.39.

Alphatec (NASDAQ:ATEC - Get Free Report) last issued its quarterly earnings results on Wednesday, February 26th. The medical technology company reported ($0.23) earnings per share for the quarter, missing analysts' consensus estimates 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 business had revenue of $176.79 million for the quarter, compared to analyst estimates of $172.74 million. As a group, equities analysts forecast that Alphatec Holdings, Inc. will post -1.08 EPS for the current fiscal year.

Insiders Place Their Bets

In other Alphatec news, COO Scott Lish sold 27,453 shares of the firm's stock in a transaction that occurred on Thursday, February 6th. The stock was sold at an average price of $11.49, for a total value of $315,434.97. Following the completion of the sale, the chief operating officer now owns 867,677 shares of the company's stock, valued at approximately $9,969,608.73. This trade represents a 3.07 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Patrick Miles sold 12,691 shares of the business's stock in a transaction that occurred on Friday, March 7th. The shares were sold at an average price of $10.64, for a total value of $135,032.24. Following the sale, the chief executive officer now owns 5,857,603 shares of the company's stock, valued at approximately $62,324,895.92. This represents a 0.22 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 337,321 shares of company stock worth $3,828,060. Corporate insiders own 22.80% of the company's stock.

Alphatec Company 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.