Emerald Advisers LLC Trims Stock Position in Alphatec Holdings, Inc. $ATEC

Emerald Advisers LLC lessened its stake in Alphatec Holdings, Inc. (NASDAQ:ATEC) by 2.7% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 1,638,882 shares of the medical technology company’s stock after selling 45,452 shares during the quarter. Emerald Advisers LLC owned 1.11% of Alphatec worth $23,829,000 as of its most recent SEC filing.

A number of other hedge funds have also recently modified their holdings of ATEC. Osterweis Capital Management Inc. purchased a new position in Alphatec during the second quarter valued at approximately $37,000. Nisa Investment Advisors LLC grew its stake in shares of Alphatec by 22.4% during the 2nd quarter. Nisa Investment Advisors LLC now owns 5,714 shares of the medical technology company’s stock worth $63,000 after purchasing an additional 1,045 shares during the period. State of Alaska Department of Revenue acquired a new stake in shares of Alphatec during the 3rd quarter worth approximately $120,000. Destiny Wealth Partners LLC purchased a new position in shares of Alphatec during the 3rd quarter valued at approximately $145,000. Finally, Park National Corp OH acquired a new position in shares of Alphatec in the 3rd quarter valued at $147,000. Hedge funds and other institutional investors own 66.35% of the company’s stock.

Insider Transactions at Alphatec

In other news, CEO Patrick Miles sold 100,000 shares of the firm’s stock in a transaction that occurred on Monday, January 5th. The shares were sold at an average price of $21.01, for a total transaction of $2,101,000.00. Following the completion of the sale, the chief executive officer owned 5,135,398 shares in the company, valued at $107,894,711.98. This trade represents a 1.91% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, COO Scott Lish sold 19,900 shares of the company’s stock in a transaction that occurred on Tuesday, December 16th. The shares were sold at an average price of $19.64, for a total value of $390,836.00. Following the completion of the transaction, the chief operating officer owned 641,432 shares in the company, valued at $12,597,724.48. This represents a 3.01% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 3,403,342 shares of company stock valued at $69,816,381 in the last three months. 20.90% of the stock is currently owned by corporate insiders.

Alphatec Trading Down 0.7%

Shares of Alphatec stock opened at $17.03 on Thursday. The company has a debt-to-equity ratio of 43.02, a current ratio of 1.99 and a quick ratio of 1.24. The stock’s 50 day simple moving average is $20.29 and its 200-day simple moving average is $16.72. The stock has a market cap of $2.53 billion, a P/E ratio of -16.38 and a beta of 1.01. Alphatec Holdings, Inc. has a 1-year low of $8.81 and a 1-year high of $23.29.

Alphatec (NASDAQ:ATEC) last announced its quarterly earnings data on Thursday, October 30th. The medical technology company reported $0.03 EPS for the quarter, topping analysts’ consensus estimates of ($0.06) by $0.09. The company had revenue of $196.50 million for the quarter, compared to analysts’ expectations of $182.78 million. The business’s quarterly revenue was up 30.4% compared to the same quarter last year. During the same quarter in the previous year, the business posted ($0.28) EPS. Analysts predict that Alphatec Holdings, Inc. will post -1.08 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several research firms recently commented on ATEC. Stifel Nicolaus initiated coverage on shares of Alphatec in a research report on Tuesday, October 28th. They set a “buy” rating and a $20.00 price target on the stock. Lake Street Capital set a $25.00 target price on shares of Alphatec and gave the stock a “buy” rating in a research note on Friday, October 31st. Barclays raised their target price on Alphatec from $23.00 to $27.00 and gave the company an “overweight” rating in a research report on Wednesday, January 7th. Wells Fargo & Company upped their price target on Alphatec from $14.00 to $16.00 and gave the stock an “overweight” rating in a report on Thursday, October 16th. Finally, Weiss Ratings reissued a “sell (e+)” rating on shares of Alphatec in a report on Monday, December 29th. Nine investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $22.82.

About Alphatec

Alphatec Holdings, Inc (NASDAQ: ATEC) is a medical technology company focused on the design, development and commercialization of products for the surgical correction of degenerative spinal conditions. The company’s portfolio centers on interbody implants, biologics, fixation devices and surgical planning tools intended to improve patient outcomes in spinal fusion procedures. Alphatec’s flagship offerings include customizable interbody cages, bone graft materials and specialized instrumentation designed for minimally invasive and open spinal surgeries.

Founded as Alphatec Spine in 1985 and rebranded as Alphatec Holdings in 2018, the company has grown from a single-product organization into a multi-platform innovator in the spine market.