Envestnet Asset Management Inc. Sells 31,587 Shares of Alphatec Holdings, Inc. (NASDAQ:ATEC)

Envestnet Asset Management Inc. trimmed its holdings in shares of Alphatec Holdings, Inc. (NASDAQ:ATEC - Free Report) by 7.6% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 385,660 shares of the medical technology company's stock after selling 31,587 shares during the quarter. Envestnet Asset Management Inc. owned 0.27% of Alphatec worth $3,540,000 as of its most recent filing with the SEC.

Other institutional investors have also modified their holdings of the company. PNC Financial Services Group Inc. raised its stake in Alphatec by 0.4% during the fourth quarter. PNC Financial Services Group Inc. now owns 312,954 shares of the medical technology company's stock valued at $2,873,000 after buying an additional 1,120 shares in the last quarter. Rhumbline Advisers increased its position 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 period. Swiss National Bank lifted its stake in shares of 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 acquiring an additional 2,300 shares during the period. CIBC Private Wealth Group LLC raised its position in Alphatec by 19.1% in the fourth quarter. CIBC Private Wealth Group LLC now owns 17,154 shares of the medical technology company's stock worth $166,000 after acquiring an additional 2,750 shares in the last quarter. Finally, R Squared Ltd bought a new stake in Alphatec during the fourth quarter worth approximately $29,000. Institutional investors and hedge funds own 66.35% of the company's stock.

Analyst Ratings Changes

A number of research firms recently commented on ATEC. StockNews.com raised shares of Alphatec from a "sell" rating to a "hold" rating in a research note on Friday, February 28th. HC Wainwright restated a "buy" rating and set a $20.00 price target on shares of Alphatec in a research note on Monday, April 14th. Barclays boosted their target price on 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 target price on shares of Alphatec in a research report on Thursday, February 27th. Finally, Piper Sandler lifted their price objective on Alphatec from $12.00 to $13.00 and gave the stock an "overweight" rating in a research note on Thursday, February 27th. Two research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $17.67.

Insider Transactions at Alphatec

In other news, CEO Patrick Miles sold 12,691 shares of the stock in a transaction that occurred on Friday, March 7th. The stock was sold at an average price of $10.64, for a total value of $135,032.24. Following the completion of the transaction, the chief executive officer now directly 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 sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP David Sponsel sold 36,256 shares of the business's stock in a transaction on Monday, February 3rd. The shares were sold at an average price of $11.42, for a total value of $414,043.52. Following the completion of the sale, the executive vice president now directly owns 735,074 shares in the company, valued at approximately $8,394,545.08. This represents a 4.70 % 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.

Alphatec Stock Performance

ATEC traded down $0.38 on Monday, hitting $11.13. 1,658,537 shares of the stock traded hands, compared to its average volume of 2,050,465. The business has a fifty day moving average price of $10.40 and a two-hundred day moving average price of $9.72. The company has a current ratio of 2.32, a quick ratio of 1.15 and a debt-to-equity ratio of 30.21. Alphatec Holdings, Inc. has a 52 week low of $4.88 and a 52 week high of $13.79. The firm has a market capitalization of $1.60 billion, a PE ratio of -8.70 and a beta of 1.20.

Alphatec (NASDAQ:ATEC - Get Free Report) last released its quarterly earnings data 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). Alphatec had a negative net margin of 31.06% and a negative return on equity of 541.39%. The firm had revenue of $176.79 million for the quarter, compared to the consensus estimate of $172.74 million. On average, research analysts predict that Alphatec Holdings, Inc. will post -1.08 EPS for the current fiscal year.

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.