Royce & Associates LP Trims Stock Position in Alphatec Holdings, Inc. $ATEC

Royce & Associates LP trimmed its holdings in shares of Alphatec Holdings, Inc. (NASDAQ:ATEC) by 13.4% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 554,694 shares of the medical technology company’s stock after selling 85,481 shares during the period. Royce & Associates LP owned about 0.37% of Alphatec worth $8,065,000 as of its most recent SEC filing.

Other institutional investors have also recently modified their holdings of the company. Valeo Financial Advisors LLC grew its holdings in Alphatec by 2.1% during the 3rd quarter. Valeo Financial Advisors LLC now owns 41,296 shares of the medical technology company’s stock valued at $600,000 after buying an additional 846 shares during the last quarter. Norden Group LLC raised its holdings in shares of Alphatec by 2.6% in the third quarter. Norden Group LLC now owns 36,676 shares of the medical technology company’s stock worth $533,000 after acquiring an additional 939 shares during the last quarter. Arizona State Retirement System lifted its position in shares of Alphatec by 2.8% in the third quarter. Arizona State Retirement System now owns 34,603 shares of the medical technology company’s stock valued at $503,000 after acquiring an additional 949 shares in the last quarter. Ameritas Investment Partners Inc. boosted its stake in shares of Alphatec by 8.8% during the second quarter. Ameritas Investment Partners Inc. now owns 11,845 shares of the medical technology company’s stock valued at $131,000 after acquiring an additional 955 shares during the last quarter. Finally, Nisa Investment Advisors LLC increased its position in 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 in the last quarter. 66.35% of the stock is currently owned by institutional investors and hedge funds.

Alphatec Trading Down 3.3%

Shares of ATEC stock opened at $13.02 on Wednesday. The firm’s 50-day simple moving average is $16.43 and its 200-day simple moving average is $17.08. The company has a debt-to-equity ratio of 40.35, a current ratio of 2.06 and a quick ratio of 1.28. Alphatec Holdings, Inc. has a 1-year low of $8.81 and a 1-year high of $23.29. The firm has a market cap of $1.97 billion, a P/E ratio of -13.71 and a beta of 1.02.

Alphatec (NASDAQ:ATEC) last released its earnings results on Tuesday, February 24th. The medical technology company reported $0.06 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.04 by $0.02. The company had revenue of $212.93 million during the quarter, compared to analysts’ expectations of $212.67 million. Alphatec’s revenue for the quarter was up 20.4% compared to the same quarter last year. During the same quarter in the previous year, the firm posted ($0.23) earnings per share. As a group, equities analysts forecast that Alphatec Holdings, Inc. will post -1.08 EPS for the current year.

Insider Buying and Selling at Alphatec

In other Alphatec news, CEO Patrick Miles sold 100,000 shares of the business’s stock in a transaction dated Monday, January 5th. The stock was 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 of the company’s stock, valued at approximately $107,894,711.98. The trade was a 1.91% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Craig E. Hunsaker sold 37,358 shares of the company’s stock in a transaction dated Tuesday, February 3rd. The stock was sold at an average price of $14.71, for a total value of $549,536.18. Following the sale, the executive vice president owned 1,173,025 shares of the company’s stock, valued at $17,255,197.75. This represents a 3.09% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last quarter, insiders sold 1,336,125 shares of company stock worth $27,174,878. 22.80% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on ATEC shares. Wall Street Zen raised shares of Alphatec from a “hold” rating to a “buy” rating in a research note on Saturday, January 31st. Needham & Company LLC reiterated a “buy” rating and set a $22.00 price target on shares of Alphatec in a report on Monday, January 12th. TD Cowen reissued a “buy” rating on shares of Alphatec in a research note on Tuesday, January 27th. Morgan Stanley set a $23.00 target price on shares of Alphatec in a research report on Tuesday, December 2nd. Finally, Piper Sandler reaffirmed an “overweight” rating on shares of Alphatec in a research note on Wednesday, February 25th. Ten research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $22.82.

Alphatec Company Profile

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.