18,488 Shares in Alphatec Holdings, Inc. (NASDAQ:ATEC) Purchased by M&T Bank Corp

M&T Bank Corp purchased a new position in Alphatec Holdings, Inc. (NASDAQ:ATEC) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 18,488 shares of the medical technology company’s stock, valued at approximately $170,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in ATEC. Polar Asset Management Partners Inc. lifted its holdings in Alphatec by 381.9% during the third quarter. Polar Asset Management Partners Inc. now owns 621,224 shares of the medical technology company’s stock valued at $3,454,000 after purchasing an additional 492,324 shares during the last quarter. Bank of New York Mellon Corp lifted its holdings in Alphatec by 119.3% during the fourth quarter. Bank of New York Mellon Corp now owns 662,239 shares of the medical technology company’s stock valued at $6,079,000 after purchasing an additional 360,258 shares during the last quarter. Congress Asset Management Co. lifted its holdings in Alphatec by 235.4% during 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 last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. lifted its holdings in Alphatec by 11.3% during the third quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 2,928,094 shares of the medical technology company’s stock valued at $16,280,000 after purchasing an additional 297,850 shares during the last quarter. Finally, State Street Corp lifted its holdings in Alphatec by 10.1% during the third quarter. State Street Corp now owns 3,138,960 shares of the medical technology company’s stock valued at $17,453,000 after purchasing an additional 287,350 shares during the last quarter. 66.35% of the stock is owned by hedge funds and other institutional investors.

Alphatec Stock Up 0.2 %

ATEC stock opened at $9.29 on Friday. 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’s 50 day moving average is $10.95 and its 200 day moving average is $8.74. The stock has a market cap of $1.34 billion, a price-to-earnings ratio of -7.26 and a beta of 1.39. Alphatec Holdings, Inc. has a 1-year low of $4.88 and a 1-year high of $14.88.

Alphatec (NASDAQ:ATEC) last posted its quarterly earnings data on Wednesday, February 26th. The medical technology company reported ($0.23) earnings per share for the quarter, missing the consensus estimate of ($0.19) by ($0.04). The company had revenue of $176.79 million during the quarter, compared to the consensus estimate of $172.74 million. Alphatec had a negative return on equity of 541.39% and a negative net margin of 31.06%. Sell-side analysts predict that Alphatec Holdings, Inc. will post -1.08 EPS for the current fiscal year.

Insider Buying and Selling at Alphatec

In other news, CEO Patrick Miles sold 50,000 shares of the firm’s stock in a transaction that occurred on Wednesday, January 29th. The shares were sold at an average price of $12.03, for a total value of $601,500.00. Following the transaction, the chief executive officer now owns 6,152,544 shares in the company, valued at approximately $74,015,104.32. This trade represents a 0.81 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP David Sponsel sold 58,283 shares of the firm’s stock in a transaction that occurred on Monday, January 13th. The stock was sold at an average price of $10.71, for a total transaction of $624,210.93. Following the completion of the transaction, the executive vice president now owns 502,311 shares in the company, valued at $5,379,750.81. This represents a 10.40 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 337,321 shares of company stock worth $3,828,060 over the last ninety days. Insiders own 22.80% of the company’s stock.

Wall Street Analysts Forecast Growth

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

Alphatec 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.