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

Royce & Associates LP lessened its holdings in shares of Alphatec Holdings, Inc. (NASDAQ:ATEC) by 45.4% during the fourth quarter, Holdings Channel reports. The firm owned 302,678 shares of the medical technology company’s stock after selling 252,016 shares during the quarter. Royce & Associates LP’s holdings in Alphatec were worth $6,368,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. Vanguard Group Inc. lifted its holdings in Alphatec by 2.4% in the third quarter. Vanguard Group Inc. now owns 6,815,058 shares of the medical technology company’s stock worth $99,091,000 after buying an additional 158,295 shares during the period. Tudor Investment Corp ET AL lifted its holdings in Alphatec by 608.4% in the third quarter. Tudor Investment Corp ET AL now owns 900,491 shares of the medical technology company’s stock worth $13,093,000 after buying an additional 773,367 shares during the period. Lisanti Capital Growth LLC purchased a new stake in Alphatec in the third quarter worth about $3,305,000. Universal Beteiligungs und Servicegesellschaft mbH purchased a new stake in Alphatec in the fourth quarter worth about $3,691,000. Finally, Aberdeen Group plc lifted its holdings in Alphatec by 29.7% in the fourth quarter. Aberdeen Group plc now owns 1,286,195 shares of the medical technology company’s stock worth $27,062,000 after buying an additional 294,792 shares during the period. Hedge funds and other institutional investors own 66.35% of the company’s stock.

Analysts Set New Price Targets

Several analysts have commented on ATEC shares. Weiss Ratings upgraded shares of Alphatec from a “sell (e+)” rating to a “sell (d-)” rating in a report on Wednesday, May 6th. JPMorgan Chase & Co. lowered their price objective on shares of Alphatec from $24.00 to $16.00 and set an “overweight” rating for the company in a report on Wednesday, May 6th. Piper Sandler restated an “overweight” rating and issued a $14.00 price objective (down from $25.00) on shares of Alphatec in a report on Wednesday, May 6th. Barclays lowered their price objective on shares of Alphatec from $27.00 to $24.00 and set an “overweight” rating for the company in a report on Thursday, May 7th. Finally, Wells Fargo & Company lowered their price objective on shares of Alphatec from $28.00 to $14.00 and set an “overweight” rating for the company in a report on Thursday, May 7th. Ten investment 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. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $18.58.

Insider Buying and Selling at Alphatec

In other Alphatec news, COO Scott Lish sold 260,535 shares of the firm’s stock in a transaction that occurred on Friday, March 13th. The shares were sold at an average price of $12.30, for a total transaction of $3,204,580.50. Following the completion of the transaction, the chief operating officer owned 815,704 shares of the company’s stock, valued at approximately $10,033,159.20. This trade represents a 24.21% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, General Counsel Tyson Eliot Marshall sold 88,835 shares of the firm’s stock in a transaction that occurred on Thursday, March 5th. The shares were sold at an average price of $12.49, for a total transaction of $1,109,549.15. Following the transaction, the general counsel directly owned 559,459 shares of the company’s stock, valued at $6,987,642.91. This represents a 13.70% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 629,189 shares of company stock worth $7,801,589 over the last three months. Company insiders own 13.48% of the company’s stock.

Alphatec Price Performance

Shares of NASDAQ ATEC opened at $7.89 on Friday. Alphatec Holdings, Inc. has a fifty-two week low of $6.82 and a fifty-two week high of $23.29. The company has a 50 day simple moving average of $9.95 and a two-hundred day simple moving average of $14.84. The company has a market capitalization of $1.21 billion, a price-to-earnings ratio of -9.62 and a beta of 0.96. The company has a debt-to-equity ratio of 40.35, a quick ratio of 1.12 and a current ratio of 1.90.

Alphatec (NASDAQ:ATEC) last announced its earnings results on Tuesday, May 5th. The medical technology company reported ($0.22) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.01) by ($0.21). Alphatec had a negative net margin of 15.93% and a negative return on equity of 1,183.84%. The business had revenue of $192.11 million for the quarter, compared to the consensus estimate of $197.51 million. During the same period in the prior year, the business posted ($0.35) EPS. Alphatec’s revenue for the quarter was up 13.6% on a year-over-year basis. Analysts expect that Alphatec Holdings, Inc. will post -0.44 EPS for the current fiscal year.

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.