Arcadia Investment Management Corp MI Has $64,000 Position in Alphatec Holdings, Inc. (NASDAQ:ATEC)

Arcadia Investment Management Corp MI cut its stake in Alphatec Holdings, Inc. (NASDAQ:ATEC) by 56.6% in the 4th quarter, Holdings Channel.com reports. The fund owned 4,235 shares of the medical technology company’s stock after selling 5,523 shares during the quarter. Arcadia Investment Management Corp MI’s holdings in Alphatec were worth $64,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently modified their holdings of ATEC. Zurcher Kantonalbank Zurich Cantonalbank lifted its position in Alphatec by 23.8% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 12,120 shares of the medical technology company’s stock worth $157,000 after purchasing an additional 2,331 shares during the period. Mirae Asset Global Investments Co. Ltd. lifted its holdings in shares of Alphatec by 10.4% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 44,509 shares of the medical technology company’s stock worth $577,000 after acquiring an additional 4,210 shares during the period. Allspring Global Investments Holdings LLC boosted its position in shares of Alphatec by 140.7% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 13,797 shares of the medical technology company’s stock worth $179,000 after acquiring an additional 8,065 shares in the last quarter. Principal Financial Group Inc. increased its stake in Alphatec by 8.1% in the third quarter. Principal Financial Group Inc. now owns 148,062 shares of the medical technology company’s stock valued at $1,920,000 after acquiring an additional 11,037 shares during the last quarter. Finally, Victory Capital Management Inc. acquired a new position in Alphatec during the third quarter valued at approximately $609,000. 66.35% of the stock is currently owned by institutional investors.

Alphatec Stock Up 7.0 %

NASDAQ ATEC traded up $0.74 on Thursday, hitting $11.34. 4,209,159 shares of the company were exchanged, compared to its average volume of 1,699,122. The company has a current ratio of 2.86, a quick ratio of 1.99 and a debt-to-equity ratio of 6.54. The company has a market cap of $1.59 billion, a PE ratio of -7.32 and a beta of 1.48. The stock has a fifty day moving average of $13.21 and a 200-day moving average of $13.53. Alphatec Holdings, Inc. has a 12 month low of $8.66 and a 12 month high of $19.14.

Alphatec (NASDAQ:ATEC) last issued its earnings results on Tuesday, May 7th. The medical technology company reported ($0.34) EPS for the quarter, missing the consensus estimate of ($0.33) by ($0.01). The firm had revenue of $138.48 million during the quarter, compared to the consensus estimate of $134.07 million. During the same period in the previous year, the company posted ($0.40) EPS. Alphatec’s revenue for the quarter was up 26.9% compared to the same quarter last year. As a group, analysts forecast that Alphatec Holdings, Inc. will post -1.1 earnings per share for the current year.

Insider Buying and Selling at Alphatec

In other Alphatec news, EVP David Sponsel sold 2,500 shares of the business’s stock in a transaction on Wednesday, February 14th. The shares were sold at an average price of $16.16, for a total transaction of $40,400.00. Following the completion of the sale, the executive vice president now owns 637,418 shares in the company, valued at approximately $10,300,674.88. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other Alphatec news, EVP David Sponsel sold 2,500 shares of Alphatec stock in a transaction dated Wednesday, February 14th. The stock was sold at an average price of $16.16, for a total transaction of $40,400.00. Following the completion of the transaction, the executive vice president now owns 637,418 shares in the company, valued at approximately $10,300,674.88. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, COO Scott Lish sold 11,963 shares of the stock in a transaction that occurred on Wednesday, February 21st. The stock was sold at an average price of $15.34, for a total value of $183,512.42. Following the completion of the sale, the chief operating officer now directly owns 538,240 shares of the company’s stock, valued at $8,256,601.60. The disclosure for this sale can be found here. Over the last quarter, insiders sold 285,069 shares of company stock valued at $3,971,495. Company insiders own 29.12% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on the company. HC Wainwright reaffirmed a “buy” rating and issued a $20.00 target price on shares of Alphatec in a report on Monday, March 4th. Needham & Company LLC reaffirmed a “buy” rating and issued a $23.00 price objective on shares of Alphatec in a research note on Wednesday. Canaccord Genuity Group reissued a “buy” rating and set a $25.00 target price on shares of Alphatec in a research note on Wednesday, March 20th. Piper Sandler reduced their price target on shares of Alphatec from $19.00 to $17.00 and set an “overweight” rating on the stock in a research note on Wednesday. Finally, Wells Fargo & Company started coverage on shares of Alphatec in a report on Friday, February 9th. They set an “overweight” rating and a $26.00 price target on the stock. One investment analyst has rated the stock with a sell rating and eight have assigned a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $22.89.

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.