Vanguard Group Inc. Grows Stock Position in Alphatec Holdings, Inc. $ATEC

Vanguard Group Inc. raised its holdings in shares of Alphatec Holdings, Inc. (NASDAQ:ATEC) by 2.4% in the 3rd quarter, HoldingsChannel.com reports. The fund owned 6,815,058 shares of the medical technology company’s stock after purchasing an additional 158,295 shares during the period. Vanguard Group Inc.’s holdings in Alphatec were worth $99,091,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently modified their holdings of the business. Osterweis Capital Management Inc. purchased a new position in shares of Alphatec during the 2nd quarter worth approximately $37,000. Nisa Investment Advisors LLC grew its holdings in Alphatec by 22.4% during the 2nd quarter. Nisa Investment Advisors LLC now owns 5,714 shares of the medical technology company’s stock valued at $63,000 after buying an additional 1,045 shares during the last quarter. State of Alaska Department of Revenue purchased a new position in Alphatec during the third quarter worth $120,000. State of Wyoming acquired a new position in shares of Alphatec in the second quarter worth $124,000. Finally, Olympiad Research LP purchased a new stake in shares of Alphatec in the second quarter valued at $127,000. Hedge funds and other institutional investors own 66.35% of the company’s stock.

Insider Activity at Alphatec

In related news, CEO Patrick Miles sold 100,000 shares of the stock in a transaction that occurred on Monday, January 5th. The shares were sold at an average price of $21.01, for a total transaction of $2,101,000.00. Following the completion of the sale, the chief executive officer owned 5,135,398 shares of the company’s stock, valued at approximately $107,894,711.98. This represents a 1.91% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Craig E. Hunsaker sold 37,358 shares of the firm’s stock in a transaction that occurred on Tuesday, February 3rd. The shares were sold at an average price of $14.71, for a total transaction of $549,536.18. Following the completion of the transaction, the executive vice president owned 1,173,025 shares in the company, valued at $17,255,197.75. The trade was a 3.09% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 1,336,125 shares of company stock valued at $27,174,878 over the last three months. Insiders own 20.90% of the company’s stock.

Alphatec Stock Performance

NASDAQ:ATEC opened at $13.00 on Thursday. The company has a market cap of $1.97 billion, a P/E ratio of -13.68 and a beta of 1.02. The firm’s 50 day moving average is $16.28 and its two-hundred day moving average is $17.05. Alphatec Holdings, Inc. has a fifty-two week low of $8.81 and a fifty-two week high of $23.29. The company has a quick ratio of 1.28, a current ratio of 2.06 and a debt-to-equity ratio of 40.35.

Alphatec (NASDAQ:ATEC) last released its quarterly earnings data on Tuesday, February 24th. The medical technology company reported $0.06 EPS for the quarter, topping analysts’ consensus estimates of $0.04 by $0.02. The firm had revenue of $212.93 million for the quarter, compared to analyst estimates of $212.67 million. The company’s quarterly revenue was up 20.4% on a year-over-year basis. During the same quarter in the previous year, the company earned ($0.23) earnings per share. Analysts expect that Alphatec Holdings, Inc. will post -1.08 EPS for the current year.

Analysts Set New Price Targets

A number of analysts recently commented on ATEC shares. Barclays lifted their price objective on Alphatec from $23.00 to $27.00 and gave the stock an “overweight” rating in a research report on Wednesday, January 7th. Loop Capital set a $25.00 price target on shares of Alphatec in a report on Wednesday, December 10th. TD Cowen reissued a “buy” rating on shares of Alphatec in a research report on Tuesday, January 27th. Lake Street Capital reaffirmed a “buy” rating on shares of Alphatec in a research note on Wednesday, February 25th. Finally, Weiss Ratings reissued a “sell (e+)” rating on shares of Alphatec in a research note on Monday, December 29th. Ten investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, Alphatec currently has an average rating of “Moderate Buy” and an average target price of $22.82.

Alphatec Profile

Alphatec Holdings, Inc (NASDAQ: ATEC) is a medical technology company focused on the design, development and commercialization of products for the surgical correction of degenerative spinal conditions. The company’s portfolio centers on interbody implants, biologics, fixation devices and surgical planning tools intended to improve patient outcomes in spinal fusion procedures. Alphatec’s flagship offerings include customizable interbody cages, bone graft materials and specialized instrumentation designed for minimally invasive and open spinal surgeries.

Founded as Alphatec Spine in 1985 and rebranded as Alphatec Holdings in 2018, the company has grown from a single-product organization into a multi-platform innovator in the spine market.