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

Bank of New York Mellon Corp increased its stake in shares of Alphatec Holdings, Inc. (NASDAQ:ATEC) by 119.3% during the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 662,239 shares of the medical technology company’s stock after purchasing an additional 360,258 shares during the period. Bank of New York Mellon Corp owned 0.47% of Alphatec worth $6,079,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in ATEC. R Squared Ltd bought a new position in shares of Alphatec during the 4th quarter valued at about $29,000. Nisa Investment Advisors LLC lifted its stake in shares of Alphatec by 973.3% in the 4th quarter. Nisa Investment Advisors LLC now owns 4,669 shares of the medical technology company’s stock valued at $43,000 after purchasing an additional 4,234 shares during the period. Newton One Investments LLC purchased a new position in shares of Alphatec in the 4th quarter valued at approximately $50,000. XTX Topco Ltd purchased a new position in shares of Alphatec in the 3rd quarter valued at approximately $69,000. Finally, Ballentine Partners LLC bought a new position in Alphatec during the 4th quarter valued at approximately $120,000. 66.35% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

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

Alphatec Trading Up 0.2 %

ATEC opened at $9.29 on Monday. The stock has a market cap of $1.34 billion, a price-to-earnings ratio of -7.26 and a beta of 1.39. The stock’s 50 day moving average price is $10.95 and its 200-day moving average price is $8.76. Alphatec Holdings, Inc. has a one year low of $4.88 and a one year high of $14.88. The company has a debt-to-equity ratio of 30.21, a quick ratio of 1.15 and a current ratio of 2.32.

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

Insider Activity at Alphatec

In related news, COO Scott Lish sold 27,453 shares of the company’s stock in a transaction on Thursday, February 6th. The stock was sold at an average price of $11.49, for a total value of $315,434.97. Following the transaction, the chief operating officer now directly owns 867,677 shares of the company’s stock, valued at $9,969,608.73. This represents a 3.07 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP David Sponsel sold 58,283 shares of the company’s stock in a transaction on Monday, January 13th. The shares were sold at an average price of $10.71, for a total value of $624,210.93. Following the completion of the transaction, the executive vice president now directly owns 502,311 shares in the company, valued at approximately $5,379,750.81. The trade was a 10.40 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 337,321 shares of company stock worth $3,828,060. Company insiders own 22.80% of the company’s stock.

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.