California State Teachers Retirement System Trims Stock Holdings in Alphatec Holdings, Inc. (NASDAQ:ATEC)

California State Teachers Retirement System lessened its stake in shares of Alphatec Holdings, Inc. (NASDAQ:ATEC) by 1.1% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 91,554 shares of the medical technology company’s stock after selling 1,040 shares during the quarter. California State Teachers Retirement System owned 0.08% of Alphatec worth $1,428,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. Belpointe Asset Management LLC purchased a new position in shares of Alphatec during the 4th quarter worth approximately $25,000. Altshuler Shaham Ltd purchased a new position in shares of Alphatec during the first quarter worth $30,000. Allspring Global Investments Holdings LLC acquired a new stake in shares of Alphatec in the first quarter valued at $37,000. Point72 Hong Kong Ltd purchased a new stake in shares of Alphatec in the 2nd quarter valued at $46,000. Finally, Metropolitan Life Insurance Co. NY raised its holdings in shares of Alphatec by 35.8% in the 4th quarter. Metropolitan Life Insurance Co. NY now owns 4,508 shares of the medical technology company’s stock valued at $56,000 after buying an additional 1,188 shares during the period. 67.19% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other Alphatec news, major shareholder Jennifer N. Pritzker purchased 2,400 shares of the firm’s stock in a transaction on Thursday, August 10th. The shares were purchased at an average cost of $14.99 per share, with a total value of $35,976.00. Following the purchase, the insider now owns 58,000 shares in the company, valued at $869,420. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In related news, major shareholder Jennifer N. Pritzker bought 2,400 shares of the firm’s stock in a transaction that occurred on Thursday, August 10th. The shares were acquired at an average cost of $14.99 per share, with a total value of $35,976.00. Following the completion of the transaction, the insider now owns 58,000 shares of the company’s stock, valued at $869,420. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Evan Bakst sold 8,700 shares of the business’s stock in a transaction that occurred on Wednesday, August 23rd. The shares were sold at an average price of $14.92, for a total transaction of $129,804.00. Following the completion of the sale, the director now owns 1,089,038 shares of the company’s stock, valued at $16,248,446.96. The disclosure for this sale can be found here. Insiders sold a total of 151,421 shares of company stock valued at $2,376,541 over the last quarter. Company insiders own 29.12% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on the company. Morgan Stanley lifted their target price on Alphatec from $19.00 to $23.00 and gave the company an “overweight” rating in a research report on Friday, August 4th. HC Wainwright restated a “buy” rating and issued a $20.00 price target on shares of Alphatec in a research note on Friday, August 4th. Stifel Nicolaus increased their price objective on Alphatec from $18.00 to $25.00 and gave the company a “buy” rating in a research note on Friday, August 4th. Needham & Company LLC boosted their target price on Alphatec from $19.00 to $20.00 and gave the stock a “buy” rating in a research note on Friday, August 4th. Finally, Lake Street Capital increased their price target on Alphatec from $20.00 to $32.00 in a research report on Monday, June 26th. One investment analyst has rated the stock with a sell rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat, Alphatec currently has a consensus rating of “Moderate Buy” and an average price target of $22.00.

Alphatec Stock Performance

ATEC stock opened at $16.17 on Thursday. The stock’s 50 day moving average price is $16.66 and its 200 day moving average price is $15.75. The firm has a market cap of $1.95 billion, a P/E ratio of -10.71 and a beta of 1.28. Alphatec Holdings, Inc. has a 1 year low of $7.11 and a 1 year high of $19.14.

Alphatec (NASDAQ:ATEC) last posted its quarterly earnings data on Thursday, August 3rd. The medical technology company reported ($0.43) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.30) by ($0.13). The firm had revenue of $116.92 million for the quarter, compared to analyst estimates of $110.18 million. On average, research analysts predict that Alphatec Holdings, Inc. will post -1.39 earnings per share for the current year.

Alphatec Company Profile

Alphatec Holdings, Inc, a medical technology company, designs, develops, and advances technologies for the surgical treatment of spinal disorders. It manufactures and sells implants and instruments through third-party suppliers. The company offers SafeOp Neural InformatiX System, an Alpha InformatiX product platform; Sigma PTP Access and Patient Positioning System; split-blade retractors; Sigma-ALIF Access System, a procedure-specific access system; EOS imaging system that provides full-body imaging; spinal implants and fixation systems; and NanoTec and Calibrate PSX, as well as various standalone implants for height restoration and stabilization.