HBK Sorce Advisory LLC Sells 8,105 Shares of Alphatec Holdings, Inc. $ATEC

HBK Sorce Advisory LLC lessened its stake in shares of Alphatec Holdings, Inc. (NASDAQ:ATEC) by 28.4% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 20,430 shares of the medical technology company’s stock after selling 8,105 shares during the period. HBK Sorce Advisory LLC’s holdings in Alphatec were worth $227,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Nuveen LLC bought a new position in shares of Alphatec in the first quarter worth $135,874,000. Vanguard Group Inc. increased its position in shares of Alphatec by 0.8% in the first quarter. Vanguard Group Inc. now owns 6,014,772 shares of the medical technology company’s stock worth $60,990,000 after purchasing an additional 45,792 shares during the period. American Century Companies Inc. increased its holdings in Alphatec by 16.9% in the 1st quarter. American Century Companies Inc. now owns 5,830,031 shares of the medical technology company’s stock valued at $59,117,000 after buying an additional 840,974 shares during the period. Royal Bank of Canada increased its holdings in Alphatec by 10.8% in the 1st quarter. Royal Bank of Canada now owns 3,527,939 shares of the medical technology company’s stock valued at $35,773,000 after buying an additional 342,656 shares during the period. Finally, Cerity Partners LLC increased its holdings in Alphatec by 1.6% in the 1st quarter. Cerity Partners LLC now owns 1,859,137 shares of the medical technology company’s stock valued at $18,852,000 after buying an additional 30,072 shares during the period. Institutional investors own 66.35% of the company’s stock.

Insider Activity

In related news, Director Mortimer Berkowitz III sold 62,500 shares of the business’s stock in a transaction on Tuesday, September 9th. The shares were sold at an average price of $15.97, for a total value of $998,125.00. Following the sale, the director owned 618,050 shares of the company’s stock, valued at $9,870,258.50. The trade was a 9.18% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP Craig E. Hunsaker sold 100,000 shares of the business’s stock in a transaction on Friday, October 31st. The stock was sold at an average price of $19.95, for a total transaction of $1,995,000.00. Following the completion of the sale, the executive vice president directly owned 1,289,142 shares in the company, valued at approximately $25,718,382.90. This represents a 7.20% decrease in their position. The SEC filing for this sale provides additional information. Over the last ninety days, insiders sold 901,616 shares of company stock worth $14,290,496. Company insiders own 20.90% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts recently issued reports on ATEC shares. Canaccord Genuity Group lifted their price objective on shares of Alphatec from $20.00 to $25.00 and gave the company a “buy” rating in a research note on Friday. Weiss Ratings reiterated a “sell (d-)” rating on shares of Alphatec in a research note on Tuesday, October 14th. Piper Sandler reiterated an “overweight” rating and issued a $25.00 price target (up previously from $20.00) on shares of Alphatec in a research note on Friday. JPMorgan Chase & Co. initiated coverage on Alphatec in a research note on Friday, October 24th. They issued an “overweight” rating and a $19.00 price target on the stock. Finally, Stifel Nicolaus initiated coverage on Alphatec in a research report on Tuesday, October 28th. They issued a “buy” rating and a $20.00 target price on the stock. Nine research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $22.00.

Alphatec Trading Up 16.3%

Shares of ATEC stock opened at $18.99 on Friday. The firm has a market capitalization of $2.81 billion, a P/E ratio of -16.81 and a beta of 1.05. The company has a quick ratio of 1.77, a current ratio of 2.88 and a debt-to-equity ratio of 23.22. The stock’s fifty day simple moving average is $15.28 and its 200 day simple moving average is $13.27. Alphatec Holdings, Inc. has a twelve month low of $6.97 and a twelve month high of $20.15.

Alphatec (NASDAQ:ATEC) last released its quarterly earnings results on Thursday, October 30th. The medical technology company reported $0.03 earnings per share for the quarter, topping the consensus estimate of ($0.06) by $0.09. The firm had revenue of $196.50 million for the quarter, compared to the consensus estimate of $182.78 million. The business’s revenue for the quarter was up 30.4% on a year-over-year basis. During the same quarter last year, the firm posted ($0.28) earnings per share. Alphatec has set its FY 2025 guidance at EPS. As a group, sell-side analysts predict that Alphatec Holdings, Inc. will post -1.08 EPS for the current fiscal year.

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.