Alphatec Holdings, Inc. (NASDAQ:ATEC) Shares Acquired by Rhumbline Advisers

Rhumbline Advisers lifted its position in shares of Alphatec Holdings, Inc. (NASDAQ:ATEC) by 6.9% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 148,749 shares of the medical technology company’s stock after purchasing an additional 9,661 shares during the period. Rhumbline Advisers owned about 0.10% of Alphatec worth $1,508,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in ATEC. Comerica Bank lifted its position in shares of Alphatec by 66.8% during the fourth quarter. Comerica Bank now owns 3,116 shares of the medical technology company’s stock worth $29,000 after purchasing an additional 1,248 shares in the last quarter. Quarry LP raised its holdings in Alphatec by 79.2% in the fourth quarter. Quarry LP now owns 5,374 shares of the medical technology company’s stock valued at $49,000 after acquiring an additional 2,375 shares in the last quarter. Lazard Asset Management LLC acquired a new stake in Alphatec in the fourth quarter valued at $76,000. AlphaQuest LLC acquired a new stake in Alphatec in the fourth quarter valued at $80,000. Finally, State of Wyoming acquired a new stake in Alphatec in the fourth quarter valued at $86,000. 66.35% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several analysts recently issued reports on the stock. Wall Street Zen raised shares of Alphatec from a “sell” rating to a “hold” rating in a report on Friday, February 28th. Lake Street Capital raised shares of Alphatec to a “buy” rating and set a $18.00 price target on the stock in a report on Monday. HC Wainwright reaffirmed a “buy” rating and issued a $20.00 price target on shares of Alphatec in a report on Monday, April 14th. Piper Sandler reissued an “overweight” rating and set a $15.00 target price (up from $13.00) on shares of Alphatec in a report on Friday, May 2nd. Finally, Needham & Company LLC reissued a “buy” rating and set a $16.00 target price on shares of Alphatec in a report on Friday, May 2nd. Two analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $17.89.

Alphatec Stock Performance

Shares of NASDAQ:ATEC opened at $10.89 on Thursday. The stock has a market capitalization of $1.59 billion, a price-to-earnings ratio of -9.47 and a beta of 1.10. Alphatec Holdings, Inc. has a 1-year low of $4.88 and a 1-year high of $13.14. The company’s fifty day moving average is $11.75 and its two-hundred day moving average is $10.83.

Alphatec (NASDAQ:ATEC) last released 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). The firm had revenue of $169.18 million for the quarter, compared to the consensus estimate of $167.57 million. Alphatec had a negative return on equity of 1,657.19% and a negative net margin of 25.77%. The firm’s revenue was up 22.2% on a year-over-year basis. During the same quarter in the prior year, the company posted ($0.34) EPS. Sell-side analysts expect that Alphatec Holdings, Inc. will post -1.08 EPS for the current fiscal year.

Insider Transactions at Alphatec

In related news, EVP Craig E. Hunsaker sold 186,122 shares of the stock in a transaction dated Wednesday, June 4th. The shares were sold at an average price of $12.34, for a total value of $2,296,745.48. Following the completion of the transaction, the executive vice president now owns 1,463,896 shares in the company, valued at $18,064,476.64. This represents a 11.28% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, COO Scott Lish sold 22,727 shares of the stock in a transaction dated Friday, June 13th. The shares were sold at an average price of $11.07, for a total transaction of $251,587.89. Following the completion of the transaction, the chief operating officer now owns 748,918 shares of the company’s stock, valued at $8,290,522.26. This represents a 2.95% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 294,065 shares of company stock worth $3,633,172. Insiders own 20.90% 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.