Artisan Partners Limited Partnership Sells 28,959 Shares of Alphatec Holdings, Inc. (NASDAQ:ATEC)

Artisan Partners Limited Partnership cut its holdings in shares of Alphatec Holdings, Inc. (NASDAQ:ATEC) by 2.4% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 1,180,693 shares of the medical technology company’s stock after selling 28,959 shares during the quarter. Artisan Partners Limited Partnership owned 0.83% of Alphatec worth $10,839,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. American Century Companies Inc. raised its position in Alphatec by 36.5% in the 4th quarter. American Century Companies Inc. now owns 4,989,057 shares of the medical technology company’s stock worth $45,800,000 after purchasing an additional 1,334,780 shares during the period. Emerald Advisers LLC increased its holdings in shares of Alphatec by 112.4% in the fourth quarter. Emerald Advisers LLC now owns 1,456,033 shares of the medical technology company’s stock worth $13,366,000 after buying an additional 770,586 shares during the period. Polar Asset Management Partners Inc. lifted its stake in shares of Alphatec by 381.9% in the 3rd quarter. Polar Asset Management Partners Inc. now owns 621,224 shares of the medical technology company’s stock valued at $3,454,000 after acquiring an additional 492,324 shares during the last quarter. Bank of New York Mellon Corp lifted 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 acquiring an additional 360,258 shares during the last quarter. Finally, Congress Asset Management Co. boosted its holdings in Alphatec by 235.4% during the 4th quarter. Congress Asset Management Co. now owns 434,966 shares of the medical technology company’s stock valued at $3,993,000 after acquiring an additional 305,296 shares during the period. 66.35% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several analysts have weighed in on the company. StockNews.com upgraded Alphatec from a “sell” rating to a “hold” rating in a research report on Friday, February 28th. Barclays upped their price target on shares of Alphatec from $20.00 to $21.00 and gave the company an “overweight” rating in a report on Wednesday, January 22nd. HC Wainwright reissued a “buy” rating and issued a $20.00 price target on shares of Alphatec in a report on Tuesday, January 14th. Piper Sandler boosted their price objective on shares of Alphatec from $12.00 to $13.00 and gave the company an “overweight” rating in a research report on Thursday, February 27th. Finally, 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. Two investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $17.67.

Alphatec Stock Up 1.4 %

ATEC stock opened at $10.19 on Friday. The company has a market capitalization of $1.47 billion, a price-to-earnings ratio of -7.96 and a beta of 1.39. 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 business’s 50 day moving average price is $10.86 and its two-hundred day moving average price is $8.97. Alphatec Holdings, Inc. has a fifty-two week low of $4.88 and a fifty-two week high of $14.54.

Alphatec (NASDAQ:ATEC) last posted 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). The firm had revenue of $176.79 million during the quarter, compared to the consensus estimate of $172.74 million. Alphatec had a negative return on equity of 541.39% and a negative net margin of 31.06%. As a group, analysts forecast that Alphatec Holdings, Inc. will post -1.08 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, CEO Patrick Miles sold 6,687 shares of the company’s stock in a transaction that occurred on Tuesday, January 21st. The stock was sold at an average price of $12.00, for a total value of $80,244.00. Following the sale, the chief executive officer now owns 5,501,715 shares in the company, valued at $66,020,580. This represents a 0.12 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, EVP David Sponsel sold 36,256 shares of Alphatec 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 transaction, the executive vice president now owns 735,074 shares of the company’s stock, valued at $8,394,545.08. The trade was a 4.70 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 337,321 shares of company stock worth $3,828,060. 22.80% of the stock is currently owned by company insiders.

Alphatec 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.