abrdn plc Sells 137,674 Shares of Alphatec Holdings, Inc. (NASDAQ:ATEC)

abrdn plc decreased its position in shares of Alphatec Holdings, Inc. (NASDAQ:ATEC) by 10.0% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,245,096 shares of the medical technology company’s stock after selling 137,674 shares during the quarter. abrdn plc owned 0.91% of Alphatec worth $18,813,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of the company. BluePath Capital Management LLC bought a new position in shares of Alphatec in the 3rd quarter valued at $29,000. RiverPark Advisors LLC bought a new position in Alphatec in the third quarter valued at about $53,000. Provence Wealth Management Group acquired a new position in Alphatec during the third quarter worth about $56,000. Van ECK Associates Corp acquired a new position in Alphatec during the third quarter worth about $113,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in shares of Alphatec by 23.8% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 12,120 shares of the medical technology company’s stock valued at $157,000 after purchasing an additional 2,331 shares in the last quarter. 66.35% of the stock is currently owned by institutional investors and hedge funds.

Alphatec Stock Down 1.5 %

Shares of NASDAQ:ATEC opened at $12.74 on Thursday. The firm has a market cap of $1.76 billion, a P/E ratio of -8.22 and a beta of 1.55. Alphatec Holdings, Inc. has a 12-month low of $8.66 and a 12-month high of $19.14. The business has a fifty day simple moving average of $13.82 and a 200 day simple moving average of $13.47. The company has a quick ratio of 1.99, a current ratio of 2.86 and a debt-to-equity ratio of 6.54.

Alphatec (NASDAQ:ATEC) last issued its quarterly earnings data on Tuesday, February 27th. The medical technology company reported ($0.37) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.28) by ($0.09). The firm had revenue of $138.00 million during the quarter, compared to the consensus estimate of $131.90 million. During the same period last year, the business earned ($0.33) EPS. Alphatec’s revenue was up 30.3% compared to the same quarter last year. Analysts predict that Alphatec Holdings, Inc. will post -1.1 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on ATEC. HC Wainwright reissued a “buy” rating and issued a $20.00 price objective on shares of Alphatec in a research note on Monday, March 4th. Wells Fargo & Company assumed coverage on Alphatec in a research note on Friday, February 9th. They issued an “overweight” rating and a $26.00 price target for the company. Needham & Company LLC raised their price objective on Alphatec from $22.00 to $23.00 and gave the company a “buy” rating in a report on Thursday, March 28th. Finally, Canaccord Genuity Group reaffirmed a “buy” rating and issued a $25.00 target price on shares of Alphatec in a report on Wednesday, March 20th. One analyst has rated the stock with a sell rating and seven have given a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $23.63.

Insider Transactions at Alphatec

In related news, EVP David Sponsel sold 2,500 shares of Alphatec stock in a transaction on Wednesday, February 14th. The shares were sold at an average price of $16.16, for a total transaction of $40,400.00. Following the completion of the transaction, the executive vice president now owns 637,418 shares of the company’s stock, valued at $10,300,674.88. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other Alphatec news, General Counsel Tyson Eliot Marshall sold 11,825 shares of the stock in a transaction that occurred on Friday, March 1st. The stock was sold at an average price of $13.30, for a total transaction of $157,272.50. Following the transaction, the general counsel now directly owns 305,095 shares in the company, valued at approximately $4,057,763.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP David Sponsel sold 2,500 shares of the firm’s stock in a transaction that occurred on Wednesday, February 14th. The stock was sold at an average price of $16.16, for a total transaction of $40,400.00. Following the sale, the executive vice president now directly owns 637,418 shares of the company’s stock, valued at approximately $10,300,674.88. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 247,569 shares of company stock worth $3,490,745. Company insiders own 29.12% of the company’s stock.

Alphatec 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.