Castleark Management LLC Cuts Position in Alphatec Holdings, Inc. (NASDAQ:ATEC)

Castleark Management LLC lowered its stake in shares of Alphatec Holdings, Inc. (NASDAQ:ATEC) by 44.9% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 112,340 shares of the medical technology company’s stock after selling 91,433 shares during the quarter. Castleark Management LLC owned 0.08% of Alphatec worth $1,549,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also recently modified their holdings of ATEC. Vanguard Group Inc. raised its holdings in Alphatec by 1.8% during the third quarter. Vanguard Group Inc. now owns 4,615,223 shares of the medical technology company’s stock worth $59,859,000 after purchasing an additional 80,101 shares in the last quarter. SG Americas Securities LLC purchased a new position in shares of Alphatec in the 4th quarter valued at $316,000. Raymond James & Associates increased its stake in Alphatec by 26.3% during the 4th quarter. Raymond James & Associates now owns 14,287 shares of the medical technology company’s stock worth $216,000 after buying an additional 2,975 shares during the period. Raymond James Financial Services Advisors Inc. purchased a new stake in Alphatec during the 4th quarter worth $202,000. Finally, Perkins Capital Management Inc. increased its position in shares of Alphatec by 7.3% in the 4th quarter. Perkins Capital Management Inc. now owns 184,867 shares of the medical technology company’s stock worth $2,793,000 after purchasing an additional 12,550 shares during the last quarter. Institutional investors and hedge funds own 66.35% of the company’s stock.

Analysts Set New Price Targets

Several research firms have recently commented on ATEC. Stifel Nicolaus decreased their price target on shares of Alphatec from $19.00 to $16.00 and set a “buy” rating for the company in a report on Thursday. HC Wainwright restated a “buy” rating and set a $20.00 price target on shares of Alphatec in a research report on Thursday. Wells Fargo & Company cut their target price on shares of Alphatec from $26.00 to $19.00 and set an “overweight” rating for the company in a research note on Thursday. Piper Sandler reduced their price target on shares of Alphatec from $17.00 to $12.00 and set an “overweight” rating for the company in a research report on Thursday. Finally, Canaccord Genuity Group reiterated a “buy” rating and issued a $25.00 target price on shares of Alphatec in a research report on Thursday, July 25th. One investment analyst has rated the stock with a sell rating and nine have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $19.11.

Alphatec Trading Down 23.8 %

NASDAQ ATEC traded down $2.40 during trading on Thursday, reaching $7.70. 8,934,218 shares of the stock traded hands, compared to its average volume of 1,653,323. The firm has a market cap of $1.08 billion, a price-to-earnings ratio of -5.27 and a beta of 1.40. The stock’s 50-day moving average price is $10.45 and its 200 day moving average price is $12.71. The company has a quick ratio of 1.49, a current ratio of 2.39 and a debt-to-equity ratio of 13.63. Alphatec Holdings, Inc. has a fifty-two week low of $6.97 and a fifty-two week high of $18.32.

Alphatec (NASDAQ:ATEC) last announced its quarterly earnings results on Wednesday, July 31st. The medical technology company reported ($0.29) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.26) by ($0.03). The company had revenue of $145.57 million during the quarter, compared to the consensus estimate of $144.55 million. Alphatec had a negative net margin of 37.45% and a negative return on equity of 1,767.81%. The business’s quarterly revenue was up 24.5% compared to the same quarter last year. During the same period in the previous year, the firm posted ($0.43) EPS. Analysts predict that Alphatec Holdings, Inc. will post -1.04 EPS for the current year.

Insider Buying and Selling at Alphatec

In related news, General Counsel Tyson Eliot Marshall sold 50,232 shares of the company’s stock in a transaction dated Wednesday, June 12th. The shares were sold at an average price of $10.88, for a total transaction of $546,524.16. Following the completion of the sale, the general counsel now owns 245,638 shares of the company’s stock, valued at $2,672,541.44. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 22.80% of the company’s stock.

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.