Alphatec Holdings, Inc. (NASDAQ:ATEC) Shares Sold by Citigroup Inc.

Citigroup Inc. trimmed its stake in shares of Alphatec Holdings, Inc. (NASDAQ:ATECFree Report) by 45.7% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 15,484 shares of the medical technology company’s stock after selling 13,018 shares during the quarter. Citigroup Inc.’s holdings in Alphatec were worth $201,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently modified their holdings of ATEC. BlackRock Inc. raised its position in Alphatec by 0.7% during the 1st quarter. BlackRock Inc. now owns 4,943,013 shares of the medical technology company’s stock worth $56,845,000 after buying an additional 34,257 shares during the last quarter. Vanguard Group Inc. raised its holdings in Alphatec by 2.0% during the third quarter. Vanguard Group Inc. now owns 3,502,419 shares of the medical technology company’s stock worth $30,612,000 after purchasing an additional 69,652 shares in the last quarter. Millennium Management LLC lifted its position in Alphatec by 103.9% in the fourth quarter. Millennium Management LLC now owns 2,767,887 shares of the medical technology company’s stock valued at $34,183,000 after purchasing an additional 1,410,693 shares during the period. Driehaus Capital Management LLC boosted its holdings in Alphatec by 113.5% in the 2nd quarter. Driehaus Capital Management LLC now owns 2,761,113 shares of the medical technology company’s stock valued at $49,645,000 after purchasing an additional 1,467,700 shares in the last quarter. Finally, First Light Asset Management LLC increased its position in Alphatec by 16.9% during the 1st quarter. First Light Asset Management LLC now owns 2,718,120 shares of the medical technology company’s stock worth $31,258,000 after purchasing an additional 392,635 shares during the period. 66.35% of the stock is currently owned by hedge funds and other institutional investors.

Alphatec Stock Performance

Shares of ATEC opened at $13.79 on Friday. The company has a 50-day moving average of $14.87 and a two-hundred day moving average of $13.40. The stock has a market cap of $1.90 billion, a P/E ratio of -8.90 and a beta of 1.58. Alphatec Holdings, Inc. has a 12-month low of $8.66 and a 12-month high of $19.14. The company has a current ratio of 2.86, a quick ratio of 1.99 and a debt-to-equity ratio of 6.54.

Alphatec (NASDAQ:ATECGet Free Report) last issued its quarterly earnings data on Tuesday, February 27th. The medical technology company reported ($0.37) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.28) by ($0.09). The company had revenue of $138.00 million during the quarter, compared to analysts’ expectations of $131.90 million. Alphatec’s revenue was up 30.3% on a year-over-year basis. During the same period in the prior year, the company earned ($0.33) EPS. As a group, research analysts predict that Alphatec Holdings, Inc. will post -1.1 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of research firms recently weighed in on ATEC. Canaccord Genuity Group restated a “buy” rating and issued a $25.00 price target on shares of Alphatec in a research note on Wednesday, March 20th. Needham & Company LLC upped their price target on shares of Alphatec from $22.00 to $23.00 and gave the stock a “buy” rating in a research note on Thursday. HC Wainwright reiterated a “buy” rating and issued a $20.00 price objective on shares of Alphatec in a research note on Monday, March 4th. Finally, Wells Fargo & Company started coverage on shares of Alphatec in a research report on Friday, February 9th. They set an “overweight” rating and a $26.00 target price on the stock. One investment analyst has rated the stock with a sell rating and seven have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $23.63.

Check Out Our Latest Stock Analysis on Alphatec

Insider Activity at Alphatec

In related news, CFO John Todd Koning sold 121,601 shares of the business’s stock in a transaction dated Friday, March 1st. The shares were sold at an average price of $13.30, for a total value of $1,617,293.30. Following the completion of the transaction, the chief financial officer now owns 430,856 shares of the company’s stock, valued at approximately $5,730,384.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, CFO John Todd Koning sold 121,601 shares of the firm’s stock in a transaction that occurred on Friday, March 1st. The shares were sold at an average price of $13.30, for a total transaction of $1,617,293.30. Following the sale, the chief financial officer now owns 430,856 shares in the company, valued at $5,730,384.80. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Evan Bakst bought 15,000 shares of Alphatec stock in a transaction that occurred on Thursday, March 14th. The shares were acquired at an average price of $13.53 per share, for a total transaction of $202,950.00. Following the completion of the transaction, the director now directly owns 15,000 shares of the company’s stock, valued at approximately $202,950. The disclosure for this purchase can be found here. Insiders have sold a total of 250,069 shares of company stock valued at $3,528,245 over the last quarter. Insiders own 29.12% of the company’s stock.

Alphatec Company Profile

(Free Report)

Alphatec Holdings, Inc, a medical technology company, designs, develops, and advances technologies for the surgical treatment of spinal disorders in the United States and internationally. It manufactures and sells implants and instruments through third-party suppliers. The company offers Alpha InformatiX product platform, including EOS imaging system that provides full-body imaging; VEA alignment mobile application, which leverages EOS technology to more quickly quantify alignment parameters on a mobile device; SafeOp Neural InformatiX System that automates electromyographic and somatosensory evoked potential monitoring; and Valence, an intra-operative system that integrates navigation and robotics into spine procedures, as well as Sigma Prone TransPsoas (PTP) Access and PTP Patient Positioning Systems.

See Also

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Institutional Ownership by Quarter for Alphatec (NASDAQ:ATEC)

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