Comerica Bank Grows Holdings in Alphatec Holdings, Inc. (NASDAQ:ATEC)

Comerica Bank grew its holdings in Alphatec Holdings, Inc. (NASDAQ:ATEC) by 66.8% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 3,116 shares of the medical technology company’s stock after purchasing an additional 1,248 shares during the period. Comerica Bank’s holdings in Alphatec were worth $29,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Vanguard Group Inc. increased its stake in Alphatec by 0.8% in the fourth quarter. Vanguard Group Inc. now owns 5,968,980 shares of the medical technology company’s stock worth $54,795,000 after purchasing an additional 47,797 shares during the period. American Century Companies Inc. lifted its stake in Alphatec by 36.5% in the fourth quarter. American Century Companies Inc. now owns 4,989,057 shares of the medical technology company’s stock worth $45,800,000 after acquiring an additional 1,334,780 shares during the period. Geode Capital Management LLC increased its position in Alphatec by 1.0% during the 4th quarter. Geode Capital Management LLC now owns 2,387,162 shares of the medical technology company’s stock valued at $21,919,000 after purchasing an additional 24,283 shares during the period. Marshall Wace LLP increased its position in Alphatec by 139.2% during the 4th quarter. Marshall Wace LLP now owns 1,773,246 shares of the medical technology company’s stock valued at $16,278,000 after purchasing an additional 1,032,070 shares during the period. Finally, Penn Capital Management Company LLC increased its position in Alphatec by 17.5% during the 4th quarter. Penn Capital Management Company LLC now owns 1,535,182 shares of the medical technology company’s stock valued at $14,093,000 after purchasing an additional 228,933 shares during the period. Hedge funds and other institutional investors own 66.35% of the company’s stock.

Insider Buying and Selling

In related news, COO Scott Lish sold 12,000 shares of Alphatec stock in a transaction that occurred on Monday, May 5th. The shares were sold at an average price of $12.12, for a total value of $145,440.00. Following the completion of the sale, the chief operating officer now directly owns 826,251 shares in the company, valued at $10,014,162.12. This trade represents a 1.43% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Patrick Miles sold 32,393 shares of Alphatec stock in a transaction that occurred on Wednesday, February 26th. The stock was sold at an average price of $10.89, for a total transaction of $352,759.77. Following the completion of the sale, the chief executive officer now owns 5,940,391 shares of the company’s stock, valued at $64,690,857.99. This trade represents a 0.54% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 126,945 shares of company stock worth $1,416,352 in the last three months. Corporate insiders own 20.90% of the company’s stock.

Alphatec Stock Up 0.5%

NASDAQ:ATEC opened at $13.03 on Tuesday. Alphatec Holdings, Inc. has a fifty-two week low of $4.88 and a fifty-two week high of $13.07. The stock has a market capitalization of $1.90 billion, a P/E ratio of -10.18 and a beta of 1.06. The company has a debt-to-equity ratio of 30.21, a quick ratio of 1.15 and a current ratio of 2.32. The company’s 50-day simple moving average is $10.80 and its 200-day simple moving average is $10.44.

Alphatec (NASDAQ:ATEC) last released its quarterly earnings results on Thursday, May 1st. The medical technology company reported ($0.35) earnings per share for the quarter, missing analysts’ consensus estimates 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 firm had revenue of $169.18 million during the quarter, compared to the consensus estimate of $167.57 million. During the same quarter in the prior year, the business posted ($0.34) earnings per share. The firm’s quarterly revenue was up 22.2% on a year-over-year basis. On average, equities analysts anticipate that Alphatec Holdings, Inc. will post -1.08 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

ATEC has been the topic of a number of research reports. Needham & Company LLC reissued a “buy” rating and set a $16.00 target price on shares of Alphatec in a research report on Friday, May 2nd. Barclays raised their target price on shares of Alphatec from $20.00 to $21.00 and gave the company an “overweight” rating in a research report on Wednesday, January 22nd. Piper Sandler reissued an “overweight” rating and set a $15.00 target price (up previously from $13.00) on shares of Alphatec in a research report on Friday, May 2nd. StockNews.com raised shares of Alphatec from a “sell” rating to a “hold” rating in a research report on Friday, February 28th. Finally, HC Wainwright reissued a “buy” rating and set a $20.00 target price on shares of Alphatec in a research report on Monday, April 14th. Two analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $17.89.

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.