Royce & Associates LP Decreases Stake in Alphatec Holdings, Inc. (NASDAQ:ATEC)

Royce & Associates LP lessened its stake in Alphatec Holdings, Inc. (NASDAQ:ATEC) by 17.1% in the fourth quarter, HoldingsChannel.com reports. The firm owned 1,004,501 shares of the medical technology company’s stock after selling 207,785 shares during the quarter. Royce & Associates LP’s holdings in Alphatec were worth $9,221,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the stock. BNP PARIBAS ASSET MANAGEMENT Holding S.A. grew its position 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 buying an additional 297,850 shares during the period. Barclays PLC increased its stake in Alphatec by 362.3% in the 3rd quarter. Barclays PLC now owns 170,546 shares of the medical technology company’s stock valued at $948,000 after purchasing an additional 133,653 shares in the last quarter. Franklin Resources Inc. raised its holdings in Alphatec by 299.3% during the third quarter. Franklin Resources Inc. now owns 64,450 shares of the medical technology company’s stock worth $343,000 after purchasing an additional 48,308 shares during the last quarter. State Street Corp boosted its position in Alphatec by 10.1% during the third quarter. State Street Corp now owns 3,138,960 shares of the medical technology company’s stock worth $17,453,000 after purchasing an additional 287,350 shares in the last quarter. Finally, Congress Asset Management Co. grew its holdings in Alphatec by 235.4% in the fourth quarter. Congress Asset Management Co. now owns 434,966 shares of the medical technology company’s stock valued at $3,993,000 after purchasing an additional 305,296 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 research reports. StockNews.com raised Alphatec from a “sell” rating to a “hold” rating in a research note on Friday, February 28th. HC Wainwright reaffirmed a “buy” rating and issued a $20.00 price target on shares of Alphatec in a report on Tuesday, January 14th. Barclays raised their price objective on shares of Alphatec from $20.00 to $21.00 and gave the stock an “overweight” rating in a research note on Wednesday, January 22nd. Needham & Company LLC reiterated a “buy” rating and set a $16.00 target price on shares of Alphatec in a report on Thursday, February 27th. Finally, Piper Sandler boosted their price target on Alphatec from $12.00 to $13.00 and gave the stock an “overweight” rating in a report on Thursday, February 27th. Two investment analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $17.67.

Alphatec Stock Performance

Alphatec stock opened at $9.34 on Wednesday. The stock has a fifty day moving average price of $10.95 and a 200 day moving average price of $8.80. Alphatec Holdings, Inc. has a 52 week low of $4.88 and a 52 week high of $14.88. The firm has a market capitalization of $1.35 billion, a P/E ratio of -7.30 and a beta of 1.39. 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 (NASDAQ:ATEC) last posted 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 company had revenue of $176.79 million for the quarter, compared to analyst estimates of $172.74 million. Equities research analysts anticipate that Alphatec Holdings, Inc. will post -1.08 earnings per share for the current year.

Insiders Place Their Bets

In other Alphatec news, EVP David Sponsel sold 36,256 shares of the company’s stock in a transaction dated Monday, February 3rd. The stock was sold at an average price of $11.42, for a total transaction 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 $8,394,545.08. This represents a 4.70 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Patrick Miles sold 12,691 shares of Alphatec stock in a transaction dated Friday, March 7th. The shares were 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 in the company, valued at $62,324,895.92. This represents a 0.22 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 337,321 shares of company stock valued at $3,828,060 over the last quarter. Company insiders own 22.80% of the company’s stock.

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.