Arizona State Retirement System Boosts Stake in Alphatec Holdings, Inc. (NASDAQ:ATEC)

Arizona State Retirement System raised its holdings in shares of Alphatec Holdings, Inc. (NASDAQ:ATEC) by 20.1% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 26,342 shares of the medical technology company’s stock after buying an additional 4,412 shares during the quarter. Arizona State Retirement System’s holdings in Alphatec were worth $398,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. HighMark Wealth Management LLC grew its position in Alphatec by 3,043.5% during the fourth quarter. HighMark Wealth Management LLC now owns 36,150 shares of the medical technology company’s stock worth $546,000 after buying an additional 35,000 shares in the last quarter. Perkins Capital Management Inc. grew its position in Alphatec by 7.3% during the fourth quarter. Perkins Capital Management Inc. now owns 184,867 shares of the medical technology company’s stock worth $2,793,000 after buying an additional 12,550 shares in the last quarter. Raymond James Financial Services Advisors Inc. purchased a new position in Alphatec during the fourth quarter worth about $202,000. Raymond James & Associates lifted its stake in Alphatec by 26.3% during the fourth quarter. Raymond James & Associates now owns 14,287 shares of the medical technology company’s stock worth $216,000 after purchasing an additional 2,975 shares during the last quarter. Finally, SG Americas Securities LLC bought a new stake in Alphatec during the fourth quarter worth about $316,000. 66.35% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

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

Insider Buying and Selling

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

Alphatec Stock Up 1.6 %

ATEC stock opened at $12.54 on Friday. Alphatec Holdings, Inc. has a fifty-two week low of $8.66 and a fifty-two week high of $19.14. The business’s 50 day moving average price is $13.95 and its two-hundred day moving average price is $13.43. The company has a debt-to-equity ratio of 6.54, a quick ratio of 1.99 and a current ratio of 2.86. The company has a market capitalization of $1.73 billion, a price-to-earnings ratio of -8.09 and a beta of 1.55.

Alphatec (NASDAQ:ATEC) last posted its earnings results on Tuesday, February 27th. The medical technology company reported ($0.37) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.28) by ($0.09). The business had revenue of $138.00 million during the quarter, compared to analysts’ expectations of $131.90 million. The business’s revenue for the quarter was up 30.3% on a year-over-year basis. During the same quarter last year, the business earned ($0.33) EPS. As a group, analysts forecast that Alphatec Holdings, Inc. will post -1.1 earnings per share 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.