Intech Investment Management LLC Increases Stake in Alphatec Holdings, Inc. (NASDAQ:ATEC)

Intech Investment Management LLC raised its stake in Alphatec Holdings, Inc. (NASDAQ:ATEC) by 14.7% in the 4th quarter, HoldingsChannel.com reports. The firm owned 38,904 shares of the medical technology company’s stock after acquiring an additional 4,985 shares during the period. Intech Investment Management LLC’s holdings in Alphatec were worth $357,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in ATEC. State Street Corp raised its holdings in Alphatec by 10.1% during the 3rd quarter. State Street Corp now owns 3,138,960 shares of the medical technology company’s stock valued at $17,453,000 after buying an additional 287,350 shares during the last quarter. New York State Common Retirement Fund raised its stake in shares of Alphatec by 21.2% during the fourth quarter. New York State Common Retirement Fund now owns 1,202,334 shares of the medical technology company’s stock valued at $11,037,000 after acquiring an additional 210,519 shares during the last quarter. Walleye Capital LLC boosted its holdings in shares of Alphatec by 3.2% during the third quarter. Walleye Capital LLC now owns 1,061,462 shares of the medical technology company’s stock worth $5,902,000 after purchasing an additional 32,529 shares during the period. Charles Schwab Investment Management Inc. grew its stake in shares of Alphatec by 2.8% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 846,224 shares of the medical technology company’s stock worth $7,768,000 after purchasing an additional 23,002 shares during the last quarter. Finally, Bank of New York Mellon Corp increased its holdings in Alphatec by 119.3% during the 4th quarter. Bank of New York Mellon Corp now owns 662,239 shares of the medical technology company’s stock valued at $6,079,000 after purchasing an additional 360,258 shares during the period. Hedge funds and other institutional investors own 66.35% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have weighed in on the company. HC Wainwright reiterated a “buy” rating and issued a $20.00 price objective on shares of Alphatec in a report on Tuesday, January 14th. Barclays raised their price target on Alphatec from $20.00 to $21.00 and gave the stock an “overweight” rating in a research note on Wednesday, January 22nd. StockNews.com raised shares of Alphatec from a “sell” rating to a “hold” rating in a research report on Friday, February 28th. Needham & Company LLC reaffirmed a “buy” rating and issued a $16.00 target price on shares of Alphatec in a research report on Thursday, February 27th. Finally, Piper Sandler boosted their price target on shares of Alphatec from $12.00 to $13.00 and gave the company an “overweight” rating in a research report on Thursday, February 27th. Two investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $17.67.

Alphatec Trading Down 1.6 %

Shares of NASDAQ:ATEC opened at $10.32 on Wednesday. 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 1 year low of $4.88 and a 1 year high of $14.54. The company has a market cap of $1.49 billion, a P/E ratio of -8.06 and a beta of 1.39. The stock’s fifty day moving average price is $10.94 and its 200-day moving average price is $8.92.

Alphatec (NASDAQ:ATEC) last posted its earnings results on Wednesday, February 26th. The medical technology company reported ($0.23) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.19) by ($0.04). Alphatec had a negative net margin of 31.06% and a negative return on equity of 541.39%. The company had revenue of $176.79 million for the quarter, compared to the consensus estimate of $172.74 million. Sell-side analysts expect that Alphatec Holdings, Inc. will post -1.08 earnings per share for the current year.

Insiders Place Their Bets

In related news, CEO Patrick Miles sold 50,000 shares of the stock in a transaction that occurred on Wednesday, January 29th. The shares were sold at an average price of $12.03, for a total value of $601,500.00. Following the completion of the sale, the chief executive officer now directly owns 6,152,544 shares of the company’s stock, valued at approximately $74,015,104.32. This represents a 0.81 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP David Sponsel sold 33,732 shares of the stock in a transaction on Thursday, March 6th. The stock was sold at an average price of $10.83, for a total value of $365,317.56. Following the completion of the sale, the executive vice president now owns 668,977 shares of the company’s stock, valued at $7,245,020.91. The trade was a 4.80 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 337,321 shares of company stock valued at $3,828,060. Company insiders own 22.80% of the company’s stock.

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.