Granite Investment Partners LLC Sells 302,434 Shares of Alphatec Holdings, Inc. (NASDAQ:ATEC)

Granite Investment Partners LLC lessened its position in Alphatec Holdings, Inc. (NASDAQ:ATEC - Free Report) by 34.5% in the fourth quarter, according to its most recent disclosure with the SEC. The firm owned 574,543 shares of the medical technology company's stock after selling 302,434 shares during the period. Granite Investment Partners LLC owned approximately 0.41% of Alphatec worth $5,274,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also recently modified their holdings of ATEC. Vanguard Group Inc. lifted its position in shares of Alphatec by 0.8% during the fourth quarter. Vanguard Group Inc. now owns 5,968,980 shares of the medical technology company's stock valued at $54,795,000 after purchasing an additional 47,797 shares in the last quarter. American Century Companies Inc. grew its holdings in Alphatec by 36.5% during the 4th quarter. American Century Companies Inc. now owns 4,989,057 shares of the medical technology company's stock valued at $45,800,000 after buying an additional 1,334,780 shares in the last quarter. State Street Corp increased its holdings in 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 acquiring an additional 287,350 shares during the period. Geode Capital Management LLC lifted its position in Alphatec by 1.0% in the fourth quarter. Geode Capital Management LLC now owns 2,387,162 shares of the medical technology company's stock valued at $21,919,000 after purchasing an additional 24,283 shares during the last quarter. Finally, Emerald Advisers LLC boosted its stake in shares of Alphatec by 112.4% during the fourth quarter. Emerald Advisers LLC now owns 1,456,033 shares of the medical technology company's stock valued at $13,366,000 after purchasing an additional 770,586 shares during the period. Institutional investors own 66.35% of the company's stock.

Insider Buying and Selling at Alphatec

In other news, CEO Patrick Miles sold 6,687 shares of the business's stock in a transaction that occurred on Tuesday, January 21st. The shares were sold at an average price of $12.00, for a total transaction of $80,244.00. Following the completion of the transaction, the chief executive officer now directly owns 5,501,715 shares of the company's stock, valued at $66,020,580. The trade was a 0.12 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP David Sponsel sold 12,946 shares of Alphatec stock in a transaction that occurred on Monday, February 24th. The stock was sold at an average price of $10.73, for a total transaction of $138,910.58. Following the completion of the sale, the executive vice president now directly owns 722,128 shares of the company's stock, valued at approximately $7,748,433.44. This trade represents a 1.76 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 278,800 shares of company stock worth $3,201,469. Insiders own 22.80% of the company's stock.

Analyst Ratings Changes

ATEC has been the topic of a number of recent analyst reports. Piper Sandler raised their price target on shares of Alphatec from $12.00 to $13.00 and gave the stock an "overweight" rating in a report on Thursday, February 27th. Needham & Company LLC restated a "buy" rating and issued a $16.00 price objective on shares of Alphatec in a report on Thursday, February 27th. StockNews.com raised shares of Alphatec from a "sell" rating to a "hold" rating in a research report on Friday, February 28th. HC Wainwright reissued a "buy" rating and issued a $20.00 price target on shares of Alphatec in a research note on Monday, April 14th. Finally, Barclays raised 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. Two equities 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.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $17.67.

Alphatec Stock Up 3.2 %

NASDAQ:ATEC traded up $0.33 during trading hours on Friday, reaching $10.56. 2,292,621 shares of the company traded hands, compared to its average volume of 2,041,438. 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 business's 50-day moving average price is $10.38 and its two-hundred day moving average price is $9.42. Alphatec Holdings, Inc. has a 1 year low of $4.88 and a 1 year high of $13.79. The stock has a market capitalization of $1.52 billion, a P/E ratio of -8.25 and a beta of 1.20.

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 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 during the quarter, compared to analysts' expectations of $172.74 million. Analysts predict that Alphatec Holdings, Inc. will post -1.08 earnings per share for the current 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.