Magnetar Financial LLC lessened its stake in shares of Alphatec Holdings, Inc. (NASDAQ:ATEC - Free Report) by 35.6% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 710,576 shares of the medical technology company's stock after selling 392,438 shares during the period. Magnetar Financial LLC owned 0.50% of Alphatec worth $6,523,000 as of its most recent filing with the Securities & Exchange Commission.
Other institutional investors and hedge funds have also recently modified their holdings of the company. Polar Asset Management Partners Inc. raised its stake in Alphatec by 381.9% during the third quarter. Polar Asset Management Partners Inc. now owns 621,224 shares of the medical technology company's stock worth $3,454,000 after purchasing an additional 492,324 shares during the period. Bank of New York Mellon Corp grew its stake in shares of Alphatec by 119.3% in the 4th quarter. Bank of New York Mellon Corp now owns 662,239 shares of the medical technology company's stock valued at $6,079,000 after buying an additional 360,258 shares during the period. Congress Asset Management Co. increased its holdings in shares of Alphatec by 235.4% during the 4th quarter. Congress Asset Management Co. now owns 434,966 shares of the medical technology company's stock worth $3,993,000 after buying an additional 305,296 shares during the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. raised its position in shares of Alphatec by 11.3% during the 3rd quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 2,928,094 shares of the medical technology company's stock valued at $16,280,000 after buying an additional 297,850 shares during the period. Finally, State Street Corp lifted its holdings in Alphatec by 10.1% in the third quarter. State Street Corp now owns 3,138,960 shares of the medical technology company's stock valued at $17,453,000 after acquiring an additional 287,350 shares during the last quarter. Institutional investors and hedge funds own 66.35% of the company's stock.
Analysts Set New Price Targets
ATEC has been the subject of several recent analyst reports. StockNews.com raised Alphatec from a "sell" rating to a "hold" rating in a research note on Friday, February 28th. HC Wainwright reissued a "buy" rating and set a $20.00 price objective on shares of Alphatec in a research report on Tuesday, January 14th. Needham & Company LLC reaffirmed a "buy" rating and issued a $16.00 target price on shares of Alphatec in a research report on Thursday, February 27th. Barclays lifted their price target on shares of Alphatec from $20.00 to $21.00 and gave the company an "overweight" rating in a research report on Wednesday, January 22nd. Finally, Piper Sandler upped their price objective on shares of Alphatec from $12.00 to $13.00 and gave the stock an "overweight" rating in a report on Thursday, February 27th. Two analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $17.67.
Get Our Latest Research Report on ATEC
Insider Activity at Alphatec
In related news, EVP David Sponsel sold 33,732 shares of the firm's stock in a transaction that occurred on Thursday, March 6th. The shares were sold at an average price of $10.83, for a total value of $365,317.56. Following the sale, the executive vice president now owns 668,977 shares of the company's stock, valued at $7,245,020.91. This trade represents a 4.80 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Patrick Miles sold 50,000 shares of the business's stock in a transaction that occurred on Wednesday, January 29th. The stock was sold at an average price of $12.03, for a total transaction of $601,500.00. Following the transaction, the chief executive officer now owns 6,152,544 shares of the company's stock, 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. Over the last three months, insiders sold 337,321 shares of company stock worth $3,828,060. Company insiders own 22.80% of the company's stock.
Alphatec Stock Up 5.6 %
Shares of NASDAQ ATEC traded up $0.56 during midday trading on Monday, hitting $10.49. The company's stock had a trading volume of 1,824,956 shares, compared to its average volume of 1,973,818. The company has a debt-to-equity ratio of 30.21, a current ratio of 2.32 and a quick ratio of 1.15. The firm has a market capitalization of $1.51 billion, a price-to-earnings ratio of -8.20 and a beta of 1.39. The business's fifty day simple moving average is $10.95 and its two-hundred day simple moving average is $8.89. Alphatec Holdings, Inc. has a 1 year low of $4.88 and a 1 year high of $14.54.
Alphatec (NASDAQ:ATEC - Get Free Report) last issued its quarterly earnings results on Wednesday, February 26th. The medical technology company reported ($0.23) EPS for the quarter, missing the consensus estimate 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 analysts' expectations of $172.74 million. On average, equities analysts predict that Alphatec Holdings, Inc. will post -1.08 EPS for the current year.
About Alphatec
(
Free Report)
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.
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