Alphatec Holdings, Inc. (NASDAQ:ATEC) Shares Sold by American Century Companies Inc.

American Century Companies Inc. trimmed its position in Alphatec Holdings, Inc. (NASDAQ:ATEC) by 3.0% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 4,041,542 shares of the medical technology company’s stock after selling 125,246 shares during the quarter. American Century Companies Inc. owned about 2.89% of Alphatec worth $42,234,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in ATEC. Comerica Bank lifted 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 valued at $89,000 after acquiring an additional 2,534 shares during the last quarter. Van ECK Associates Corp grew its holdings in shares of Alphatec by 11.8% during the 2nd quarter. Van ECK Associates Corp now owns 12,275 shares of the medical technology company’s stock worth $128,000 after purchasing an additional 1,300 shares during the period. Tidemark LLC acquired a new stake in shares of Alphatec during the 4th quarter worth about $137,000. EntryPoint Capital LLC purchased a new stake in Alphatec in the 1st quarter valued at about $141,000. Finally, Amalgamated Bank lifted its position in Alphatec by 7.3% in the fourth quarter. Amalgamated Bank now owns 9,720 shares of the medical technology company’s stock valued at $147,000 after buying an additional 660 shares during the last quarter. 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 recent analyst reports. Lake Street Capital dropped their price target on shares of Alphatec from $32.00 to $18.00 and set a “buy” rating for the company in a research report on Tuesday, September 3rd. Morgan Stanley lowered Alphatec from an “overweight” rating to an “equal weight” rating in a research report on Thursday, August 1st. Wells Fargo & Company lowered their price target on Alphatec from $26.00 to $19.00 and set an “overweight” rating for the company in a research report on Thursday, August 1st. HC Wainwright reaffirmed a “buy” rating and issued a $20.00 price objective on shares of Alphatec in a research note on Thursday, August 1st. Finally, Piper Sandler decreased their target price on Alphatec from $17.00 to $12.00 and set an “overweight” rating on the stock in a research note on Thursday, August 1st. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and nine have assigned a buy rating to the company’s stock. According to data from MarketBeat, Alphatec presently has an average rating of “Moderate Buy” and a consensus target price of $17.50.

Insider Buying and Selling

In other Alphatec news, Director David M. Demski purchased 50,000 shares of the business’s stock in a transaction on Wednesday, August 21st. The shares were bought at an average cost of $5.67 per share, for a total transaction of $283,500.00. Following the completion of the purchase, the director now directly owns 288,441 shares in the company, valued at $1,635,460.47. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 22.80% of the company’s stock.

Alphatec Stock Performance

Shares of ATEC opened at $5.91 on Tuesday. Alphatec Holdings, Inc. has a 1 year low of $5.28 and a 1 year high of $17.34. The stock has a market capitalization of $826.71 million, a PE ratio of -4.03 and a beta of 1.40. 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 50-day simple moving average of $7.89 and a 200-day simple moving average of $10.52.

Alphatec (NASDAQ:ATEC) last issued its quarterly earnings results on Wednesday, July 31st. The medical technology company reported ($0.29) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.26) by ($0.03). Alphatec had a negative return on equity of 816.57% and a negative net margin of 33.48%. The firm had revenue of $145.57 million during the quarter, compared to analysts’ expectations of $144.55 million. During the same quarter in the prior year, the firm earned ($0.43) EPS. The firm’s revenue was up 24.5% compared to the same quarter last year. On average, analysts predict that Alphatec Holdings, Inc. will post -1.08 earnings per share for the current fiscal 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.