abrdn plc Decreases Stock Holdings in Alphatec Holdings, Inc. (NASDAQ:ATEC)

abrdn plc trimmed its position in shares of Alphatec Holdings, Inc. (NASDAQ:ATEC) by 10.0% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,245,096 shares of the medical technology company’s stock after selling 137,674 shares during the period. abrdn plc’s holdings in Alphatec were worth $18,813,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of the company. BluePath Capital Management LLC bought a new position in Alphatec during the 3rd quarter valued at approximately $29,000. RiverPark Advisors LLC purchased a new position in shares of Alphatec during the third quarter valued at approximately $53,000. Provence Wealth Management Group bought a new position in shares of Alphatec during the third quarter valued at approximately $56,000. Van ECK Associates Corp purchased a new stake in Alphatec in the third quarter worth $113,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in Alphatec by 23.8% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 12,120 shares of the medical technology company’s stock worth $157,000 after acquiring an additional 2,331 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 $12.74 on Thursday. The company has a quick ratio of 1.99, a current ratio of 2.86 and a debt-to-equity ratio of 6.54. The stock has a market cap of $1.76 billion, a P/E ratio of -8.22 and a beta of 1.55. The business’s 50 day moving average price is $13.82 and its 200-day moving average price is $13.47. Alphatec Holdings, Inc. has a 52 week low of $8.66 and a 52 week high of $19.14.

Alphatec (NASDAQ:ATEC) last announced its quarterly earnings data on Tuesday, February 27th. The medical technology company reported ($0.37) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.28) by ($0.09). The business had revenue of $138.00 million during the quarter, compared to analyst estimates of $131.90 million. During the same period last year, the firm earned ($0.33) EPS. The company’s revenue was up 30.3% compared to the same quarter last year. Equities research analysts anticipate that Alphatec Holdings, Inc. will post -1.1 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research analysts have commented on ATEC shares. Wells Fargo & Company assumed coverage on shares of Alphatec in a report on Friday, February 9th. They issued an “overweight” rating and a $26.00 price objective for the company. Canaccord Genuity Group reiterated a “buy” rating and set a $25.00 price target on shares of Alphatec in a research report on Wednesday, March 20th. HC Wainwright reaffirmed a “buy” rating and set a $20.00 price objective on shares of Alphatec in a research report on Monday, March 4th. Finally, Needham & Company LLC raised their target price on Alphatec from $22.00 to $23.00 and gave the company a “buy” rating in a research note on Thursday, March 28th. One equities research analyst has rated the stock with a sell rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat.com, Alphatec has a consensus rating of “Moderate Buy” and an average target price of $23.63.

Insider Transactions at Alphatec

In other news, Director Evan Bakst acquired 15,000 shares of the business’s stock in a transaction that occurred on Thursday, March 14th. The shares were bought at an average cost of $13.53 per share, with a total value of $202,950.00. Following the transaction, the director now owns 15,000 shares of the company’s stock, valued at approximately $202,950. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other Alphatec news, Director Evan Bakst bought 15,000 shares of the business’s stock in a transaction on Thursday, March 14th. The shares were acquired at an average cost of $13.53 per share, for a total transaction of $202,950.00. Following the purchase, the director now owns 15,000 shares in the company, valued at approximately $202,950. The purchase was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, EVP Craig E. Hunsaker sold 41,560 shares of the business’s stock in a transaction on Monday, February 26th. The stock was sold at an average price of $15.05, for a total value of $625,478.00. Following the completion of the transaction, the executive vice president now owns 1,188,444 shares of the company’s stock, valued at approximately $17,886,082.20. The disclosure for this sale can be found here. Insiders sold a total of 247,569 shares of company stock valued at $3,490,745 in the last quarter. 29.12% of the stock is owned by insiders.

Alphatec Company Profile

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.