Hsbc Holdings PLC Decreases Stake in Alphatec Holdings, Inc. $ATEC

Hsbc Holdings PLC reduced its position in Alphatec Holdings, Inc. (NASDAQ:ATEC) by 51.5% during the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 180,790 shares of the medical technology company’s stock after selling 191,695 shares during the period. Hsbc Holdings PLC owned 0.12% of Alphatec worth $3,807,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Osterweis Capital Management Inc. purchased a new position in shares of Alphatec in the second quarter worth about $37,000. Northwestern Mutual Wealth Management Co. lifted its stake in shares of Alphatec by 157.1% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 2,571 shares of the medical technology company’s stock valued at $54,000 after buying an additional 1,571 shares in the last quarter. FNY Investment Advisers LLC bought a new position in Alphatec in the 3rd quarter worth approximately $74,000. State of Wyoming bought a new position in Alphatec in the 2nd quarter worth approximately $124,000. Finally, Focus Partners Wealth purchased a new position in Alphatec in the 3rd quarter valued at approximately $138,000. 66.35% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Alphatec

In other news, Director Karen K. Mcginnis sold 6,050 shares of Alphatec stock in a transaction dated Thursday, June 11th. The stock was sold at an average price of $8.01, for a total transaction of $48,460.50. Following the completion of the sale, the director owned 94,671 shares in the company, valued at approximately $758,314.71. This trade represents a 6.01% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. 13.48% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on the company. HC Wainwright restated a “buy” rating and set a $24.00 target price on shares of Alphatec in a research report on Thursday, May 7th. TD Cowen reduced their price target on Alphatec from $20.00 to $11.00 and set a “buy” rating for the company in a research report on Wednesday, May 6th. Lake Street Capital reiterated a “buy” rating and set a $15.00 price objective on shares of Alphatec in a research note on Wednesday, May 6th. Weiss Ratings raised Alphatec from a “sell (e+)” rating to a “sell (d-)” rating in a report on Wednesday, May 6th. Finally, Needham & Company LLC cut their target price on Alphatec from $25.00 to $14.00 and set a “buy” rating for the company in a research note on Wednesday, May 6th. Eleven investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, Alphatec currently has a consensus rating of “Moderate Buy” and a consensus target price of $17.46.

Alphatec Trading Up 3.3%

Alphatec stock opened at $9.51 on Friday. The stock has a market cap of $1.46 billion, a P/E ratio of -11.60 and a beta of 0.85. Alphatec Holdings, Inc. has a fifty-two week low of $6.82 and a fifty-two week high of $23.29. The firm’s fifty day moving average price is $8.36 and its 200-day moving average price is $12.28. The company has a debt-to-equity ratio of 40.35, a quick ratio of 1.12 and a current ratio of 1.90.

Alphatec Company Profile

Alphatec Holdings, Inc (NASDAQ: ATEC) is a medical technology company focused on the design, development and commercialization of products for the surgical correction of degenerative spinal conditions. The company’s portfolio centers on interbody implants, biologics, fixation devices and surgical planning tools intended to improve patient outcomes in spinal fusion procedures. Alphatec’s flagship offerings include customizable interbody cages, bone graft materials and specialized instrumentation designed for minimally invasive and open spinal surgeries.

Founded as Alphatec Spine in 1985 and rebranded as Alphatec Holdings in 2018, the company has grown from a single-product organization into a multi-platform innovator in the spine market.