Point72 Hong Kong Ltd decreased its holdings in shares of Alphatec Holdings, Inc. (NASDAQ: ATEC – Get Rating) by 80.1% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The fund owned 3,077 shares of the medical technology company stock after selling 12,412 shares during the quarter. Point72 Hong Kong Ltd’s holdings in Alphatec were worth $ 35,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also added to or reduced their stakes in the company. LPL Financial LLC boosted its holdings in shares of Alphatec by 17.7% in the third quarter. LPL Financial LLC now owns 127,629 shares of the medical technology company stock valued at $ 1,556,000 after purchasing an additional 19,154 shares during the period. Blair William & Co. IL boosted its holdings in shares of Alphatec by 24.9% in the fourth quarter. Blair William & Co. IL now owns 37,575 shares of the medical technology company stock valued at $ 429,000 after purchasing an additional 7,500 shares during the period. Advisor Group Holdings Inc. boosted its holdings in shares of Alphatec by 65.4% in the fourth quarter. Advisor Group Holdings Inc. now owns 35,787 shares of the medical technology company stock valued at $ 408,000 after purchasing an additional 14,153 shares during the period. Deerfield Management Company LP Series C boosted its holdings in shares of Alphatec by 5.7% in the third quarter. Deerfield Management Company LP Series C now owns 3,594,829 shares of the medical technology company stock valued at $ 43,821,000 after purchasing an additional 192,445 shares during the period. Finally, Voya Investment Management LLC boosted its holdings in shares of Alphatec by 4.6% in the third quarter. Voya Investment Management LLC now owns 27,702 shares of the medical technology company stock valued at $ 338,000 after purchasing an additional 1,219 shares during the period. 53.52% of the stock is currently owned by hedge funds and other institutional investors.
Shares of ATEC opened at $ 7.20 on Friday. Alphatec Holdings, Inc. has a 12 month low of $ 6.92 and a 12 month high of $ 16.47. The stock has a fifty day moving average price of $ 9.93 and a 200-day moving average price of $ 10.65. The company has a current ratio of 2.62, a quick ratio of 1.76 and a debt-to-equity ratio of 7.78.
Alphatec (NASDAQ: ATEC – Get Rating) last issued its quarterly earnings data on Thursday, May 5th. The medical technology company reported ($ 0.43) EPS for the quarter, missing the consensus estimate of ($ 0.29) by ($ 0.14). Alphatec had a negative net margin of 60.83% and a negative return on equity of 147.10%. The business had revenue of $ 70.93 million for the quarter, compared to analysts’ expectations of $ 67.72 million. As a group, analysts forecast that Alphatec Holdings, Inc. will post -1.31 earnings per share for the current year.
In other news, major shareholder Jennifer N. Pritzker bought 4,000 shares of the business’s stock in a transaction that occurred on Friday, May 13th. The shares were purchased at an average cost of $ 7.96 per share, with a total value of $ 31,840.00. Following the transaction, the insider now directly owns 46,200 shares in the company, valued at $ 367,752. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Patrick Miles sold 100,000 shares of the company stock in a transaction on Wednesday, May 18th. The shares were sold at an average price of $ 8.34, for a total value of $ 834,000.00. Following the completion of the transaction, the chief executive officer now directly owns 5,858,634 shares in the company, valued at $ 48,861,007.56. The disclosure for this sale can be found here. In the last quarter, insiders have sold 271,630 shares of company stock valued at $ 2,141,374. Company insiders own 34.38% of the company stock.
A number of analysts recently issued reports on ATEC shares. HC Wainwright boosted their price target on Alphatec from $ 19.00 to $ 20.00 in a report on Friday, May 6th. StockNews.com assumed coverage on Alphatec in a report on Thursday, March 31st. They set a “sell” rating for the company. Zacks Investment Research lowered Alphatec from a “hold” rating to a “sell” rating in a report on Tuesday, May 10th. Needham & Company LLC lowered their target price on Alphatec from $ 15.00 to $ 13.00 and set a “buy” rating for the company in a report on Thursday, May 26th. Finally, Piper Sandler lowered their target price on Alphatec from $ 22.00 to $ 17.00 and set an “overweight” rating for the company in a report on Wednesday, March 2nd. Two research analysts have rated the stock with a sell rating, one has given a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $ 18.71.
About Alphatec: (Get Rating)
Alphatec Holdings, Inc, a medical technology company, designs, develops, and advances technologies for the surgical treatment of spinal disorders. The company offers SafeOp Neural InformatiX System, an Alpha InformatiX product platform designed to reduce the risk of intraoperative nerve injury; Sigma transforaminal lumbar interbody fusion pedicle-based access system that provides direct visualization of anatomical landmarks; Sigma PTP Access and Patient Positioning System; squadron lateral retractor designed to maximize patient outcomes; Invictus Spinal Fixation System, a thoracolumbar fixation system to treat a range of pathologies; and Invictus MIS SingleStep System that provides minimally invasive pedicle screw placement.
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