Alphatec Holdings, Inc. (NASDAQ:ATEC) Stock Position Cut by King Luther Capital Management Corp

King Luther Capital Management Corp trimmed its stake in shares of Alphatec Holdings, Inc. (NASDAQ:ATEC) by 6.5% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 721,469 shares of the medical technology company’s stock after selling 49,808 shares during the quarter. King Luther Capital Management Corp owned about 0.51% of Alphatec worth $6,623,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently made changes to their positions in ATEC. Van ECK Associates Corp raised its holdings in Alphatec by 57.0% during the third quarter. Van ECK Associates Corp now owns 19,273 shares of the medical technology company’s stock worth $99,000 after purchasing an additional 6,998 shares in the last quarter. Atria Investments Inc raised its stake in shares of Alphatec by 8.0% in the 3rd quarter. Atria Investments Inc now owns 19,609 shares of the medical technology company’s stock worth $109,000 after buying an additional 1,460 shares in the last quarter. Entropy Technologies LP raised its stake in shares of Alphatec by 14.9% in the 3rd quarter. Entropy Technologies LP now owns 21,623 shares of the medical technology company’s stock worth $120,000 after buying an additional 2,800 shares in the last quarter. GSA Capital Partners LLP bought a new position in Alphatec during the third quarter valued at about $431,000. Finally, Zions Bancorporation N.A. grew its holdings in Alphatec by 108.2% during the third quarter. Zions Bancorporation N.A. now owns 173,180 shares of the medical technology company’s stock worth $963,000 after acquiring an additional 89,992 shares during the period. 66.35% of the stock is currently owned by institutional investors.

Alphatec Stock Up 2.9 %

NASDAQ:ATEC opened at $9.95 on Wednesday. The business’s fifty day moving average price is $10.92 and its 200 day moving average price is $8.66. The firm has a market capitalization of $1.43 billion, a price-to-earnings ratio of -7.77 and a beta of 1.39. The company has a current ratio of 2.32, a quick ratio of 1.15 and a debt-to-equity ratio of 30.21. Alphatec Holdings, Inc. has a 1-year low of $4.88 and a 1-year high of $14.88.

Alphatec (NASDAQ:ATEC) last issued its earnings results on Wednesday, February 26th. The medical technology company reported ($0.23) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.19) by ($0.04). The business had revenue of $176.79 million during the quarter, compared to analyst estimates of $172.74 million. Alphatec had a negative net margin of 31.06% and a negative return on equity of 541.39%. On average, sell-side analysts forecast that Alphatec Holdings, Inc. will post -1.08 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on ATEC. HC Wainwright reissued a “buy” rating and issued a $20.00 price target on shares of Alphatec in a report on Tuesday, January 14th. Piper Sandler raised their target price on shares of Alphatec from $12.00 to $13.00 and gave the stock an “overweight” rating in a report on Thursday, February 27th. Barclays upped their price target on Alphatec from $20.00 to $21.00 and gave the company an “overweight” rating in a report on Wednesday, January 22nd. StockNews.com raised Alphatec from a “sell” rating to a “hold” rating in a research note on Friday, February 28th. Finally, Needham & Company LLC reaffirmed a “buy” rating and set a $16.00 target price on shares of Alphatec in a research report on Thursday, February 27th. Two analysts have rated the stock with a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $17.67.

Insiders Place Their Bets

In other Alphatec news, EVP David Sponsel sold 33,732 shares of the company’s stock in a transaction dated Thursday, March 6th. The stock was sold at an average price of $10.83, for a total value of $365,317.56. Following the transaction, the executive vice president now directly owns 668,977 shares of the company’s stock, valued at $7,245,020.91. This represents a 4.80 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Patrick Miles sold 12,691 shares of Alphatec stock in a transaction dated Friday, March 7th. The shares were sold at an average price of $10.64, for a total value of $135,032.24. Following the sale, the chief executive officer now owns 5,857,603 shares of the company’s stock, valued at approximately $62,324,895.92. This represents a 0.22 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 337,321 shares of company stock worth $3,828,060 in the last quarter. 22.80% of the stock is currently owned by corporate insiders.

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.