Swiss National Bank Grows Position in Alphatec Holdings, Inc. (NASDAQ:ATEC)

Swiss National Bank increased its position in Alphatec Holdings, Inc. (NASDAQ:ATEC) by 1.1% during the 4th quarter, Holdings Channel.com reports. The firm owned 207,200 shares of the medical technology company’s stock after purchasing an additional 2,300 shares during the period. Swiss National Bank’s holdings in Alphatec were worth $1,902,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Intech Investment Management LLC purchased a new position in shares of Alphatec during the third quarter valued at approximately $189,000. Charles Schwab Investment Management Inc. raised its stake in Alphatec by 1.9% during the third quarter. Charles Schwab Investment Management Inc. now owns 823,222 shares of the medical technology company’s stock valued at $4,577,000 after buying an additional 15,577 shares during the last quarter. Algert Global LLC purchased a new position in shares of Alphatec in the 3rd quarter worth about $1,452,000. BNP Paribas Financial Markets raised its holdings in Alphatec by 73.7% in the third quarter. BNP Paribas Financial Markets now owns 21,603 shares of the medical technology company’s stock worth $120,000 after buying an additional 9,165 shares during the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in shares of Alphatec by 28.7% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 35,068 shares of the medical technology company’s stock worth $195,000 after buying an additional 7,825 shares in the last quarter. Institutional investors own 66.35% of the company’s stock.

Alphatec Price Performance

Shares of NASDAQ:ATEC opened at $10.19 on Friday. The firm’s 50 day simple moving average is $10.86 and its two-hundred day simple moving average is $8.97. The company has a debt-to-equity ratio of 30.21, a current ratio of 2.32 and a quick ratio of 1.15. The company has a market capitalization of $1.47 billion, a P/E ratio of -7.96 and a beta of 1.39. Alphatec Holdings, Inc. has a 1-year low of $4.88 and a 1-year high of $14.54.

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

Insider Transactions at Alphatec

In other news, EVP David Sponsel sold 58,283 shares of the company’s stock in a transaction that occurred on Monday, January 13th. The stock was sold at an average price of $10.71, for a total transaction of $624,210.93. Following the sale, the executive vice president now directly owns 502,311 shares of the company’s stock, valued at $5,379,750.81. This represents a 10.40 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Patrick Miles sold 50,000 shares of the company’s stock in a transaction on Wednesday, January 29th. The shares were sold at an average price of $12.03, for a total transaction of $601,500.00. Following the sale, the chief executive officer now directly owns 6,152,544 shares in the company, valued at approximately $74,015,104.32. The trade was a 0.81 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 337,321 shares of company stock valued at $3,828,060. 22.80% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

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

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.