Arizona State Retirement System Decreases Stock Holdings in Alphatec Holdings, Inc. (NASDAQ:ATEC)

Arizona State Retirement System trimmed its stake in shares of Alphatec Holdings, Inc. (NASDAQ:ATEC) by 12.1% in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 18,725 shares of the medical technology company’s stock after selling 2,583 shares during the period. Arizona State Retirement System’s holdings in Alphatec were worth $337,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently made changes to their positions in the company. Altshuler Shaham Ltd purchased a new position in shares of Alphatec during the first quarter valued at approximately $30,000. Allspring Global Investments Holdings LLC purchased a new stake in Alphatec during the first quarter valued at approximately $37,000. Macquarie Group Ltd. purchased a new stake in Alphatec during the first quarter valued at approximately $40,000. FMR LLC increased its holdings in Alphatec by 105.1% during the first quarter. FMR LLC now owns 4,273 shares of the medical technology company’s stock valued at $67,000 after buying an additional 2,190 shares during the last quarter. Finally, Metropolitan Life Insurance Co NY increased its holdings in Alphatec by 35.8% during the fourth 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 last quarter. 67.19% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, CEO Patrick Miles sold 60,000 shares of the company’s stock in a transaction on Monday, September 25th. The shares were sold at an average price of $12.51, for a total transaction of $750,600.00. Following the completion of the transaction, the chief executive officer now owns 5,572,111 shares in the company, valued at $69,707,108.61. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In related news, Director David H. Mowry sold 9,500 shares of the company’s stock in a transaction on Monday, September 11th. The shares were sold at an average price of $14.46, for a total transaction of $137,370.00. Following the completion of the transaction, the director now owns 92,381 shares in the company, valued at $1,335,829.26. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Patrick Miles sold 60,000 shares of the stock in a transaction on Monday, September 25th. The shares were sold at an average price of $12.51, for a total transaction of $750,600.00. Following the transaction, the chief executive officer now owns 5,572,111 shares of the company’s stock, valued at approximately $69,707,108.61. The disclosure for this sale can be found here. Over the last quarter, insiders sold 257,575 shares of company stock worth $3,399,449. 29.12% of the stock is owned by insiders.

Alphatec Stock Performance

Shares of NASDAQ:ATEC opened at $10.85 on Wednesday. The firm has a fifty day moving average price of $12.47 and a 200 day moving average price of $14.73. Alphatec Holdings, Inc. has a fifty-two week low of $8.66 and a fifty-two week high of $19.14. The firm has a market cap of $1.31 billion, a price-to-earnings ratio of -7.19 and a beta of 1.35.

Wall Street Analyst Weigh In

A number of analysts have commented on the stock. Roth Mkm assumed coverage on shares of Alphatec in a report on Friday, October 20th. They set a “buy” rating and a $22.00 target price for the company. Canaccord Genuity Group increased their price objective on shares of Alphatec from $17.00 to $22.00 and gave the stock a “buy” rating in a research note on Friday, August 4th. HC Wainwright reissued a “buy” rating and issued a $20.00 price objective on shares of Alphatec in a research note on Friday, August 4th. Stifel Nicolaus reduced their price objective on shares of Alphatec from $25.00 to $24.00 and set a “buy” rating for the company in a research note on Tuesday. Finally, StockNews.com assumed coverage on shares of Alphatec in a research note on Thursday, October 5th. They issued a “sell” rating for the company. One research analyst has rated the stock with a sell rating and seven have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $22.71.

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.