Alphatec Holdings, Inc. (NASDAQ:ATEC) Shares Sold by PNC Financial Services Group Inc.

PNC Financial Services Group Inc. reduced its stake in Alphatec Holdings, Inc. (NASDAQ:ATEC) by 3.4% in the 3rd quarter, HoldingsChannel.com reports. The firm owned 311,834 shares of the medical technology company’s stock after selling 11,054 shares during the period. PNC Financial Services Group Inc.’s holdings in Alphatec were worth $1,734,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors also recently bought and sold shares of the stock. Magnetar Financial LLC acquired a new stake in shares of Alphatec during the second quarter worth $10,957,000. First Eagle Investment Management LLC purchased a new position in Alphatec in the 2nd quarter worth $1,071,000. Lighthouse Investment Partners LLC lifted its position in Alphatec by 257.5% during the 2nd quarter. Lighthouse Investment Partners LLC now owns 208,594 shares of the medical technology company’s stock worth $2,180,000 after acquiring an additional 150,244 shares during the period. AlphaCentric Advisors LLC purchased a new stake in Alphatec during the 3rd quarter valued at about $2,057,000. Finally, Royce & Associates LP increased its holdings in shares of Alphatec by 15.9% in the third quarter. Royce & Associates LP now owns 1,212,286 shares of the medical technology company’s stock valued at $6,740,000 after purchasing an additional 165,954 shares during the period. Hedge funds and other institutional investors own 66.35% of the company’s stock.

Analysts Set New Price Targets

ATEC has been the subject of a number of research reports. Piper Sandler decreased their target price on Alphatec from $17.00 to $12.00 and set an “overweight” rating for the company in a report on Thursday, August 1st. Needham & Company LLC reaffirmed a “buy” rating and issued a $13.00 price objective on shares of Alphatec in a report on Thursday, October 31st. Canaccord Genuity Group reissued a “buy” rating and set a $20.00 target price on shares of Alphatec in a report on Friday, August 30th. HC Wainwright reaffirmed a “buy” rating and issued a $20.00 price target on shares of Alphatec in a report on Thursday, October 31st. Finally, Morgan Stanley lowered Alphatec from an “overweight” rating to an “equal weight” rating in a research note on Thursday, August 1st. One research analyst has rated the stock with a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat.com, Alphatec presently has an average rating of “Moderate Buy” and an average target price of $17.11.

Alphatec Stock Performance

NASDAQ ATEC opened at $9.61 on Wednesday. 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 twelve month low of $4.88 and a twelve month high of $17.34. The stock has a 50-day moving average of $6.78 and a 200 day moving average of $8.21. The stock has a market capitalization of $1.36 billion, a price-to-earnings ratio of -7.45 and a beta of 1.31.

Alphatec Company 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.