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

Royce & Associates LP reduced its holdings in shares of Alphatec Holdings, Inc. (NASDAQ:ATEC) by 13.4% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 554,694 shares of the medical technology company’s stock after selling 85,481 shares during the quarter. Royce & Associates LP’s holdings in Alphatec were worth $8,065,000 at the end of the most recent quarter.

Other large investors also recently made changes to their positions in the company. Aster Capital Management DIFC Ltd purchased a new position in shares of Alphatec in the 3rd quarter valued at $34,000. Osterweis Capital Management Inc. acquired a new stake in Alphatec in the 2nd quarter valued at $37,000. China Universal Asset Management Co. Ltd. purchased a new position in Alphatec in the third quarter valued at about $73,000. Nisa Investment Advisors LLC raised its position in Alphatec by 22.4% in the second quarter. Nisa Investment Advisors LLC now owns 5,714 shares of the medical technology company’s stock valued at $63,000 after purchasing an additional 1,045 shares during the period. Finally, State of Alaska Department of Revenue acquired a new position in shares of Alphatec during the third quarter worth about $120,000. Institutional investors and hedge funds own 66.35% of the company’s stock.

Alphatec Price Performance

ATEC opened at $13.02 on Wednesday. The company has a market capitalization of $1.97 billion, a P/E ratio of -13.71 and a beta of 1.02. The company has a 50-day moving average of $16.43 and a 200-day moving average of $17.08. The company has a debt-to-equity ratio of 40.35, a quick ratio of 1.28 and a current ratio of 2.06. Alphatec Holdings, Inc. has a 1-year low of $8.81 and a 1-year high of $23.29.

Alphatec (NASDAQ:ATEC) last posted its quarterly earnings results on Tuesday, February 24th. The medical technology company reported $0.06 EPS for the quarter, topping analysts’ consensus estimates of $0.04 by $0.02. The firm had revenue of $212.93 million during the quarter, compared to analyst estimates of $212.67 million. The firm’s revenue for the quarter was up 20.4% on a year-over-year basis. During the same quarter last year, the business posted ($0.23) earnings per share. Equities analysts expect that Alphatec Holdings, Inc. will post -1.08 EPS for the current fiscal year.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on ATEC shares. TD Cowen reiterated a “buy” rating on shares of Alphatec in a research note on Tuesday, January 27th. HC Wainwright restated a “buy” rating and issued a $24.00 price target on shares of Alphatec in a report on Monday, January 12th. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Alphatec in a research report on Monday, December 29th. Wall Street Zen raised shares of Alphatec from a “hold” rating to a “buy” rating in a research report on Saturday, January 31st. Finally, Needham & Company LLC restated a “buy” rating and issued a $22.00 target price on shares of Alphatec in a research note on Monday, January 12th. Ten analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $22.82.

Insider Buying and Selling

In related news, EVP David Sponsel sold 60,425 shares of the business’s stock in a transaction dated Thursday, February 5th. The shares were sold at an average price of $13.79, for a total transaction of $833,260.75. Following the completion of the sale, the executive vice president owned 349,500 shares of the company’s stock, valued at $4,819,605. This represents a 14.74% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Patrick Miles sold 100,000 shares of the stock in a transaction dated Monday, January 5th. The stock was sold at an average price of $21.01, for a total transaction of $2,101,000.00. Following the sale, the chief executive officer owned 5,135,398 shares in the company, valued at approximately $107,894,711.98. This trade represents a 1.91% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders have sold 1,336,125 shares of company stock worth $27,174,878. 22.80% of the stock is currently owned by insiders.

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.