HighMark Wealth Management LLC Lowers Position in Alphatec Holdings, Inc. (NASDAQ:ATEC)

HighMark Wealth Management LLC decreased its holdings in shares of Alphatec Holdings, Inc. (NASDAQ:ATEC) by 5.0% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The firm owned 94,400 shares of the medical technology company’s stock after selling 5,000 shares during the period. Alphatec makes up about 0.6% of HighMark Wealth Management LLC’s holdings, making the stock its 22nd largest holding. HighMark Wealth Management LLC owned 0.07% of Alphatec worth $957,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Royal Bank of Canada grew its holdings in shares of Alphatec by 171.2% during the fourth quarter. Royal Bank of Canada now owns 3,185,283 shares of the medical technology company’s stock worth $29,240,000 after purchasing an additional 2,010,806 shares in the last quarter. American Century Companies Inc. lifted its position in Alphatec by 36.5% during the fourth quarter. American Century Companies Inc. now owns 4,989,057 shares of the medical technology company’s stock valued at $45,800,000 after purchasing an additional 1,334,780 shares during the last quarter. Nuveen Asset Management LLC grew its stake in Alphatec by 78.4% in the 4th quarter. Nuveen Asset Management LLC now owns 2,584,996 shares of the medical technology company’s stock worth $23,730,000 after buying an additional 1,136,330 shares in the last quarter. Marshall Wace LLP increased its holdings in shares of Alphatec by 139.2% in the 4th quarter. Marshall Wace LLP now owns 1,773,246 shares of the medical technology company’s stock worth $16,278,000 after buying an additional 1,032,070 shares during the last quarter. Finally, Emerald Advisers LLC increased its holdings in shares of Alphatec by 112.4% in the 4th quarter. Emerald Advisers LLC now owns 1,456,033 shares of the medical technology company’s stock worth $13,366,000 after buying an additional 770,586 shares during the last quarter. 66.35% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Alphatec

In related news, COO Scott Lish sold 55,375 shares of Alphatec stock in a transaction on Monday, May 19th. The shares were sold at an average price of $13.00, for a total value of $719,875.00. Following the sale, the chief operating officer now owns 771,645 shares in the company, valued at $10,031,385. The trade was a 6.70% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Craig E. Hunsaker sold 186,122 shares of the company’s stock in a transaction on Wednesday, June 4th. The stock was sold at an average price of $12.34, for a total transaction of $2,296,745.48. Following the completion of the transaction, the executive vice president now owns 1,463,896 shares of the company’s stock, valued at $18,064,476.64. This trade represents a 11.28% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 294,065 shares of company stock worth $3,633,172. 20.90% of the stock is currently owned by company insiders.

Alphatec Price Performance

Shares of ATEC stock opened at $10.90 on Friday. The business has a 50-day moving average of $11.87 and a 200 day moving average of $10.88. Alphatec Holdings, Inc. has a 1-year low of $4.88 and a 1-year high of $13.14. The stock has a market capitalization of $1.59 billion, a PE ratio of -9.48 and a beta of 1.10.

Alphatec (NASDAQ:ATEC) last announced its quarterly earnings data on Thursday, May 1st. The medical technology company reported ($0.35) earnings per share for the quarter, missing the consensus estimate of ($0.12) by ($0.23). Alphatec had a negative net margin of 25.77% and a negative return on equity of 1,657.19%. The company had revenue of $169.18 million during the quarter, compared to the consensus estimate of $167.57 million. During the same quarter in the previous year, the firm posted ($0.34) EPS. The business’s revenue for the quarter was up 22.2% compared to the same quarter last year. Analysts anticipate that Alphatec Holdings, Inc. will post -1.08 EPS for the current year.

Analysts Set New Price Targets

A number of analysts have recently issued reports on ATEC shares. HC Wainwright reaffirmed a “buy” rating and set a $20.00 price objective on shares of Alphatec in a report on Monday, April 14th. Piper Sandler reiterated an “overweight” rating and issued a $15.00 price objective (up from $13.00) on shares of Alphatec in a report on Friday, May 2nd. Needham & Company LLC reiterated a “buy” rating and set a $16.00 price objective on shares of Alphatec in a research report on Friday, May 2nd. Lake Street Capital upgraded Alphatec to a “buy” rating and set a $18.00 target price for the company in a research report on Monday, June 16th. Finally, Wall Street Zen raised Alphatec from a “sell” rating to a “hold” rating in a research note on Friday, February 28th. Two research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $17.89.

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.