abrdn plc Sells 102,470 Shares of Alphatec Holdings, Inc. (NASDAQ:ATEC)

abrdn plc lowered its holdings in Alphatec Holdings, Inc. (NASDAQ:ATEC) by 6.2% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,539,524 shares of the medical technology company’s stock after selling 102,470 shares during the quarter. abrdn plc’s holdings in Alphatec were worth $8,560,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Comerica Bank boosted its holdings in Alphatec by 64.8% in the first quarter. Comerica Bank now owns 6,443 shares of the medical technology company’s stock worth $89,000 after purchasing an additional 2,534 shares during the last quarter. EntryPoint Capital LLC purchased a new position in shares of Alphatec in the 1st quarter worth $141,000. Van ECK Associates Corp boosted its stake in shares of Alphatec by 11.8% in the 2nd quarter. Van ECK Associates Corp now owns 12,275 shares of the medical technology company’s stock worth $128,000 after buying an additional 1,300 shares during the last quarter. Cetera Advisors LLC grew its holdings in shares of Alphatec by 15.6% in the first quarter. Cetera Advisors LLC now owns 12,720 shares of the medical technology company’s stock worth $175,000 after acquiring an additional 1,720 shares during the period. Finally, Net Worth Advisory Group purchased a new stake in Alphatec during the third quarter valued at $76,000. 66.35% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of research firms have issued reports on ATEC. Piper Sandler cut their price target on Alphatec from $17.00 to $12.00 and set an “overweight” rating for the company in a research note on Thursday, August 1st. Barclays initiated coverage on shares of Alphatec in a report on Monday, July 8th. They set an “overweight” rating and a $19.00 target price for the company. Stifel Nicolaus dropped their price target on shares of Alphatec from $19.00 to $16.00 and set a “buy” rating on the stock in a research note on Thursday, August 1st. Lake Street Capital reduced their price objective on Alphatec from $32.00 to $18.00 and set a “buy” rating for the company in a research note on Tuesday, September 3rd. Finally, Wells Fargo & Company lowered their target price on Alphatec from $26.00 to $19.00 and set an “overweight” rating on the stock in a research report on Thursday, August 1st. One research analyst has rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to MarketBeat.com, Alphatec has a consensus rating of “Moderate Buy” and a consensus price target of $17.00.

Insiders Place Their Bets

In related news, Director David M. Demski acquired 50,000 shares of Alphatec stock in a transaction dated Wednesday, August 21st. The shares were purchased at an average price of $5.67 per share, for a total transaction of $283,500.00. Following the completion of the transaction, the director now directly owns 288,441 shares in the company, valued at approximately $1,635,460.47. This represents a 0.00 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 22.80% of the stock is currently owned by corporate insiders.

Alphatec Trading Up 3.3 %

Shares of ATEC stock opened at $8.11 on Friday. The company has a debt-to-equity ratio of 30.21, a quick ratio of 1.21 and a current ratio of 2.22. The stock has a fifty day simple moving average of $5.82 and a two-hundred day simple moving average of $8.65. The firm has a market capitalization of $1.14 billion, a PE ratio of -6.34 and a beta of 1.39. Alphatec Holdings, Inc. has a 52-week low of $4.88 and a 52-week high of $17.34.

Alphatec (NASDAQ:ATEC) last released its earnings results on Wednesday, July 31st. The medical technology company reported ($0.29) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.26) by ($0.03). Alphatec had a negative return on equity of 401.88% and a negative net margin of 31.06%. The business had revenue of $145.57 million for the quarter, compared to analysts’ expectations of $144.55 million. During the same quarter in the prior year, the business posted ($0.43) EPS. The business’s revenue for the quarter was up 24.5% compared to the same quarter last year. On average, analysts predict that Alphatec Holdings, Inc. will post -1.08 EPS 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.