Invesco Ltd. Lowers Stock Position in Alphatec Holdings, Inc. (NASDAQ:ATEC)

Invesco Ltd. reduced its position in Alphatec Holdings, Inc. (NASDAQ:ATEC) by 2.2% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 44,378 shares of the medical technology company’s stock after selling 1,002 shares during the quarter. Invesco Ltd.’s holdings in Alphatec were worth $407,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in ATEC. R Squared Ltd acquired a new stake in Alphatec in the 4th quarter valued at $29,000. Nisa Investment Advisors LLC boosted its position in shares of Alphatec by 973.3% in the fourth quarter. Nisa Investment Advisors LLC now owns 4,669 shares of the medical technology company’s stock worth $43,000 after buying an additional 4,234 shares during the period. Newton One Investments LLC acquired a new stake in shares of Alphatec in the fourth quarter valued at about $50,000. AlphaQuest LLC purchased a new stake in shares of Alphatec during the 4th quarter valued at about $80,000. Finally, Oppenheimer Asset Management Inc. acquired a new position in Alphatec during the 4th quarter worth approximately $106,000. Institutional investors and hedge funds own 66.35% of the company’s stock.

Alphatec Stock Performance

Alphatec stock opened at $12.00 on Friday. The company has a debt-to-equity ratio of 30.21, a current ratio of 2.32 and a quick ratio of 1.15. Alphatec Holdings, Inc. has a 12 month low of $4.88 and a 12 month high of $13.79. The company has a fifty day moving average price of $10.46 and a two-hundred day moving average price of $9.89. The company has a market cap of $1.75 billion, a PE ratio of -9.38 and a beta of 1.20.

Alphatec (NASDAQ:ATEC) last posted its quarterly earnings results on Thursday, May 1st. The medical technology company reported ($0.35) EPS for the quarter, missing the consensus estimate of ($0.12) by ($0.23). Alphatec had a negative net margin of 31.06% and a negative return on equity of 541.39%. The business had revenue of $169.18 million during the quarter, compared to analyst estimates of $167.57 million. During the same period last year, the firm posted ($0.34) earnings per share. The company’s quarterly revenue was up 22.2% on a year-over-year basis. Research analysts expect that Alphatec Holdings, Inc. will post -1.08 earnings per share for the current year.

Analyst Ratings Changes

A number of research firms have recently issued reports on ATEC. Barclays lifted their price objective on shares of Alphatec from $20.00 to $21.00 and gave the company an “overweight” rating in a research note on Wednesday, January 22nd. Piper Sandler reiterated an “overweight” rating and issued a $15.00 price objective (up previously from $13.00) on shares of Alphatec in a report on Friday. StockNews.com upgraded Alphatec from a “sell” rating to a “hold” rating in a research note on Friday, February 28th. HC Wainwright reissued a “buy” rating and issued a $20.00 price target on shares of Alphatec in a report on Monday, April 14th. Finally, Needham & Company LLC restated a “buy” rating and set a $16.00 price objective on shares of Alphatec in a research note on Friday. Two equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $17.89.

Insider Buying and Selling

In other Alphatec news, EVP David Sponsel sold 36,256 shares of the firm’s stock in a transaction on Monday, February 3rd. The stock was sold at an average price of $11.42, for a total value of $414,043.52. Following the sale, the executive vice president now directly owns 735,074 shares in the company, valued at approximately $8,394,545.08. This trade represents a 4.70 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Patrick Miles sold 43,459 shares of the company’s stock in a transaction dated Wednesday, February 5th. The stock was sold at an average price of $11.95, for a total transaction of $519,335.05. Following the transaction, the chief executive officer now owns 6,065,772 shares of the company’s stock, valued at $72,485,975.40. This represents a 0.71 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 222,113 shares of company stock valued at $2,519,725. Insiders own 22.80% of the company’s stock.

About Alphatec

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.