Hsbc Holdings PLC Has $3.81 Million Stock Holdings in Alphatec Holdings, Inc. $ATEC

Hsbc Holdings PLC trimmed its position in shares of Alphatec Holdings, Inc. (NASDAQ:ATEC) by 51.5% in the 4th quarter, Holdings Channel.com reports. The fund owned 180,790 shares of the medical technology company’s stock after selling 191,695 shares during the quarter. Hsbc Holdings PLC’s holdings in Alphatec were worth $3,807,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of ATEC. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in Alphatec by 4.5% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 74,005 shares of the medical technology company’s stock worth $750,000 after purchasing an additional 3,196 shares during the last quarter. Dynamic Technology Lab Private Ltd bought a new stake in shares of Alphatec in the 1st quarter valued at approximately $257,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its stake in shares of Alphatec by 18.4% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 265,907 shares of the medical technology company’s stock valued at $2,696,000 after buying an additional 41,264 shares in the last quarter. Quantbot Technologies LP acquired a new position in Alphatec in the second quarter worth approximately $242,000. Finally, Invesco Ltd. increased its holdings in Alphatec by 455.0% in the second quarter. Invesco Ltd. now owns 282,212 shares of the medical technology company’s stock worth $3,133,000 after buying an additional 231,367 shares during the last quarter. Institutional investors and hedge funds own 66.35% of the company’s stock.

Insider Activity at Alphatec

In other news, Director Karen K. Mcginnis sold 6,050 shares of the business’s stock in a transaction on Thursday, June 11th. The shares were sold at an average price of $8.01, for a total value of $48,460.50. Following the completion of the sale, the director directly owned 94,671 shares in the company, valued at approximately $758,314.71. The trade was a 6.01% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. 13.48% of the stock is currently owned by corporate insiders.

Alphatec Price Performance

ATEC opened at $9.30 on Monday. The firm has a market cap of $1.43 billion, a P/E ratio of -11.34 and a beta of 0.88. The company has a debt-to-equity ratio of 40.35, a quick ratio of 1.12 and a current ratio of 1.90. The business has a 50 day moving average price of $8.62 and a 200 day moving average price of $12.97. Alphatec Holdings, Inc. has a twelve month low of $6.82 and a twelve month high of $23.29.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on ATEC shares. Needham & Company LLC reduced their target price on shares of Alphatec from $25.00 to $14.00 and set a “buy” rating for the company in a research note on Wednesday, May 6th. Lake Street Capital restated a “buy” rating and set a $15.00 price target on shares of Alphatec in a research note on Wednesday, May 6th. HC Wainwright restated a “buy” rating and set a $24.00 price target on shares of Alphatec in a report on Thursday, May 7th. JPMorgan Chase & Co. reduced their price objective on shares of Alphatec from $24.00 to $16.00 and set an “overweight” rating for the company in a research note on Wednesday, May 6th. Finally, Piper Sandler reiterated an “overweight” rating and issued a $14.00 price objective (down from $25.00) on shares of Alphatec in a report on Wednesday, May 6th. Ten research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $18.58.

About Alphatec

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.