Swiss National Bank Has $2.48 Million Position in Alphatec Holdings, Inc. (NASDAQ:ATEC)

Swiss National Bank trimmed its stake in shares of Alphatec Holdings, Inc. (NASDAQ:ATEC) by 10.2% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 158,800 shares of the medical technology company’s stock after selling 18,100 shares during the quarter. Swiss National Bank owned approximately 0.13% of Alphatec worth $2,477,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in the stock. Principal Financial Group Inc. increased its position in Alphatec by 11.8% during the 1st quarter. Principal Financial Group Inc. now owns 98,173 shares of the medical technology company’s stock worth $1,531,000 after purchasing an additional 10,348 shares in the last quarter. Altshuler Shaham Ltd acquired a new position in Alphatec during the 1st quarter worth approximately $30,000. Y Intercept Hong Kong Ltd acquired a new position in Alphatec during the 1st quarter worth approximately $176,000. Russell Investments Group Ltd. increased its position in Alphatec by 4.2% during the 1st quarter. Russell Investments Group Ltd. now owns 506,953 shares of the medical technology company’s stock worth $7,908,000 after purchasing an additional 20,541 shares in the last quarter. Finally, New York Life Investment Management LLC acquired a new position in Alphatec during the 1st quarter worth approximately $477,000. 67.19% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

ATEC has been the topic of a number of research reports. HC Wainwright reissued a “buy” rating and set a $20.00 target price on shares of Alphatec in a report on Friday, August 4th. Stifel Nicolaus boosted their target price on shares of Alphatec from $18.00 to $25.00 and gave the stock a “buy” rating in a report on Friday, August 4th. Canaccord Genuity Group boosted their target price on shares of Alphatec from $17.00 to $22.00 and gave the stock a “buy” rating in a report on Friday, August 4th. StockNews.com initiated coverage on shares of Alphatec in a report on Thursday, August 17th. They set a “sell” rating on the stock. Finally, Needham & Company LLC upped their price objective on shares of Alphatec from $19.00 to $20.00 and gave the company a “buy” rating in a research note on Friday, August 4th. One equities research analyst has rated the stock with a sell rating and seven have assigned a buy rating to the company. According to MarketBeat, Alphatec presently has an average rating of “Moderate Buy” and an average price target of $22.00.

Alphatec Stock Performance

NASDAQ:ATEC opened at $15.65 on Wednesday. The firm has a market cap of $1.88 billion, a P/E ratio of -10.36 and a beta of 1.27. Alphatec Holdings, Inc. has a 52 week low of $7.11 and a 52 week high of $19.14. The firm’s fifty day moving average is $16.60 and its 200-day moving average is $15.82.

Alphatec (NASDAQ:ATEC) last issued its earnings results on Thursday, August 3rd. The medical technology company reported ($0.43) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.30) by ($0.13). The company had revenue of $116.92 million for the quarter, compared to analyst estimates of $110.18 million. As a group, sell-side analysts anticipate that Alphatec Holdings, Inc. will post -1.39 earnings per share for the current year.

Insider Buying and Selling

In related news, Director Evan Bakst sold 8,700 shares of the stock in a transaction 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 transaction, the director now directly owns 1,089,038 shares of the company’s stock, valued at $16,248,446.96. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other Alphatec news, Director Paul Segal sold 71,329 shares of the company’s stock in a transaction on Monday, June 12th. The shares were sold at an average price of $15.15, for a total transaction of $1,080,634.35. Following the transaction, the director now owns 100,000 shares in the company, valued at $1,515,000. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Evan Bakst sold 8,700 shares of the company’s stock in a transaction on Wednesday, August 23rd. The stock was sold at an average price of $14.92, for a total transaction of $129,804.00. Following the transaction, the director now owns 1,089,038 shares in the company, valued at approximately $16,248,446.96. The disclosure for this sale can be found here. Insiders have sold a total of 151,421 shares of company stock valued at $2,376,541 over the last ninety days. 29.12% of the stock is owned by corporate insiders.

About Alphatec

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.