Bank of New York Mellon Corp Grows Stock Holdings in Alphatec Holdings, Inc. (NASDAQ:ATEC)

Bank of New York Mellon Corp lifted its position in shares of Alphatec Holdings, Inc. (NASDAQ:ATEC) by 119.3% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 662,239 shares of the medical technology company’s stock after buying an additional 360,258 shares during the period. Bank of New York Mellon Corp’s holdings in Alphatec were worth $6,079,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently added to or reduced their stakes in the stock. Olympiad Research LP acquired a new stake in Alphatec in the 4th quarter valued at approximately $160,000. Ieq Capital LLC purchased a new stake in Alphatec in the fourth quarter valued at $323,000. New York State Common Retirement Fund lifted its position in Alphatec by 21.2% in the fourth quarter. New York State Common Retirement Fund now owns 1,202,334 shares of the medical technology company’s stock valued at $11,037,000 after acquiring an additional 210,519 shares during the last quarter. Congress Asset Management Co. increased its stake in Alphatec by 235.4% in the fourth quarter. Congress Asset Management Co. now owns 434,966 shares of the medical technology company’s stock valued at $3,993,000 after purchasing an additional 305,296 shares during the period. Finally, Rhumbline Advisers increased its stake in Alphatec by 1.3% in the fourth quarter. Rhumbline Advisers now owns 139,088 shares of the medical technology company’s stock valued at $1,277,000 after purchasing an additional 1,746 shares during the period. Institutional investors and hedge funds own 66.35% of the company’s stock.

Wall Street Analysts Forecast Growth

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

Insider Transactions at Alphatec

In other news, EVP David Sponsel sold 33,732 shares of Alphatec stock in a transaction dated Thursday, March 6th. The shares were sold at an average price of $10.83, for a total value of $365,317.56. Following the completion of the transaction, the executive vice president now directly owns 668,977 shares of the company’s stock, valued at approximately $7,245,020.91. The trade was a 4.80 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CEO Patrick Miles sold 6,687 shares of Alphatec stock in a transaction dated Tuesday, January 21st. The shares were sold at an average price of $12.00, for a total transaction of $80,244.00. Following the completion of the transaction, the chief executive officer now directly owns 5,501,715 shares of the company’s stock, valued at $66,020,580. This trade represents a 0.12 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 337,321 shares of company stock valued at $3,828,060. Insiders own 22.80% of the company’s stock.

Alphatec Stock Performance

Shares of ATEC stock opened at $9.29 on Monday. The company’s fifty day simple moving average is $10.95 and its 200-day simple moving average is $8.76. Alphatec Holdings, Inc. has a 52 week low of $4.88 and a 52 week high of $14.88. The company has a current ratio of 2.32, a quick ratio of 1.15 and a debt-to-equity ratio of 30.21. The company has a market cap of $1.34 billion, a PE ratio of -7.26 and a beta of 1.39.

Alphatec (NASDAQ:ATEC) last released its quarterly earnings results on Wednesday, February 26th. The medical technology company reported ($0.23) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.19) by ($0.04). Alphatec had a negative return on equity of 541.39% and a negative net margin of 31.06%. The firm had revenue of $176.79 million for the quarter, compared to analysts’ expectations of $172.74 million. As a group, equities research analysts anticipate that Alphatec Holdings, Inc. will post -1.08 EPS for the current year.

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.