Russell Investments Group Ltd. Purchases 9,008 Shares of Alphatec Holdings, Inc. (NASDAQ:ATEC)

Russell Investments Group Ltd. grew its position in shares of Alphatec Holdings, Inc. (NASDAQ:ATEC) by 2.3% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 392,472 shares of the medical technology company’s stock after purchasing an additional 9,008 shares during the period. Russell Investments Group Ltd. owned about 0.29% of Alphatec worth $5,930,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of ATEC. Handelsbanken Fonder AB lifted its position in Alphatec by 5.0% in the 4th quarter. Handelsbanken Fonder AB now owns 20,900 shares of the medical technology company’s stock worth $316,000 after buying an additional 1,000 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in shares of Alphatec by 94.5% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 23,579 shares of the medical technology company’s stock worth $356,000 after acquiring an additional 11,459 shares during the last quarter. Valeo Financial Advisors LLC grew its holdings in shares of Alphatec by 5.0% during the 4th quarter. Valeo Financial Advisors LLC now owns 19,025 shares of the medical technology company’s stock valued at $287,000 after purchasing an additional 900 shares during the last quarter. Cerity Partners LLC bought a new position in shares of Alphatec during the 4th quarter valued at $28,451,000. Finally, Arizona State Retirement System lifted its stake in Alphatec by 20.1% in the fourth quarter. Arizona State Retirement System now owns 26,342 shares of the medical technology company’s stock worth $398,000 after purchasing an additional 4,412 shares during the last quarter. 66.35% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Alphatec news, EVP Craig E. Hunsaker sold 41,560 shares of the firm’s stock in a transaction on Monday, February 26th. The stock was sold at an average price of $15.05, for a total transaction of $625,478.00. Following the completion of the transaction, the executive vice president now owns 1,188,444 shares of the company’s stock, valued at $17,886,082.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In related news, CFO John Todd Koning sold 121,601 shares of the company’s stock in a transaction that occurred on Friday, March 1st. The stock was sold at an average price of $13.30, for a total value of $1,617,293.30. Following the sale, the chief financial officer now owns 430,856 shares in the company, valued at approximately $5,730,384.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Craig E. Hunsaker sold 41,560 shares of Alphatec stock in a transaction on Monday, February 26th. The shares were sold at an average price of $15.05, for a total value of $625,478.00. Following the transaction, the executive vice president now owns 1,188,444 shares of the company’s stock, valued at approximately $17,886,082.20. The disclosure for this sale can be found here. Insiders have sold a total of 285,069 shares of company stock valued at $3,971,495 over the last ninety days. Company insiders own 29.12% of the company’s stock.

Alphatec Stock Down 21.9 %

Shares of NASDAQ ATEC opened at $10.60 on Thursday. The firm has a fifty day simple moving average of $13.25 and a two-hundred day simple moving average of $13.54. Alphatec Holdings, Inc. has a 12 month low of $8.66 and a 12 month high of $19.14. 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 firm has a market capitalization of $1.48 billion, a PE ratio of -6.84 and a beta of 1.48.

Alphatec (NASDAQ:ATEC) last issued its quarterly earnings data 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 business had revenue of $138.48 million for the quarter, compared to analyst estimates of $134.07 million. During the same period in the previous year, the business earned ($0.40) EPS. Alphatec’s revenue for the quarter was up 26.9% compared to the same quarter last year. Equities analysts expect that Alphatec Holdings, Inc. will post -1.1 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on ATEC. HC Wainwright reaffirmed a “buy” rating and set a $20.00 price objective on shares of Alphatec in a research note on Monday, March 4th. Piper Sandler decreased their price target on Alphatec from $19.00 to $17.00 and set an “overweight” rating on the stock in a research note on Wednesday. Wells Fargo & Company initiated coverage on Alphatec in a research note on Friday, February 9th. They set an “overweight” rating and a $26.00 price objective for the company. Canaccord Genuity Group reaffirmed a “buy” rating and issued a $25.00 target price on shares of Alphatec in a research note on Wednesday, March 20th. Finally, Needham & Company LLC reiterated a “buy” rating and set a $23.00 price target on shares of Alphatec in a report on Wednesday. One equities research analyst has rated the stock with a sell rating and eight have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $22.89.

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.