Alphatec Holdings, Inc. $ATEC Shares Sold by Hsbc Holdings PLC

Hsbc Holdings PLC lowered its holdings in Alphatec Holdings, Inc. (NASDAQ:ATEC) by 51.5% during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 180,790 shares of the medical technology company’s stock after selling 191,695 shares during the period. Hsbc Holdings PLC owned about 0.12% of Alphatec worth $3,807,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the stock. Vanguard Group Inc. grew its position in shares of Alphatec by 1.0% during the fourth quarter. Vanguard Group Inc. now owns 6,883,626 shares of the medical technology company’s stock worth $144,831,000 after acquiring an additional 68,568 shares during the last quarter. American Century Companies Inc. increased its position in Alphatec by 2.6% in the 3rd quarter. American Century Companies Inc. now owns 6,336,491 shares of the medical technology company’s stock valued at $92,133,000 after acquiring an additional 159,330 shares during the period. Morgan Stanley raised its stake in Alphatec by 22.0% during the 4th quarter. Morgan Stanley now owns 4,340,936 shares of the medical technology company’s stock valued at $91,333,000 after acquiring an additional 784,191 shares in the last quarter. State Street Corp raised its stake in Alphatec by 6.4% during the 4th quarter. State Street Corp now owns 2,889,240 shares of the medical technology company’s stock valued at $60,790,000 after acquiring an additional 174,287 shares in the last quarter. Finally, Geode Capital Management LLC raised its stake in Alphatec by 1.2% during the 4th quarter. Geode Capital Management LLC now owns 2,828,026 shares of the medical technology company’s stock valued at $59,511,000 after acquiring an additional 32,465 shares in the last quarter. 66.35% of the stock is currently owned by institutional investors and hedge funds.

Alphatec Stock Performance

Shares of ATEC opened at $9.30 on Monday. The company has a 50-day moving average of $8.62 and a two-hundred day moving average of $12.97. The stock has a market cap of $1.43 billion, a price-to-earnings ratio of -11.34 and a beta of 0.88. The company has a debt-to-equity ratio of 40.35, a current ratio of 1.90 and a quick ratio of 1.12. Alphatec Holdings, Inc. has a one year low of $6.82 and a one year high of $23.29.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on ATEC shares. Wells Fargo & Company decreased their price target on Alphatec from $28.00 to $14.00 and set an “overweight” rating for the company in a research note on Thursday, May 7th. HC Wainwright reaffirmed a “buy” rating and issued a $24.00 price objective on shares of Alphatec in a research note on Thursday, May 7th. Canaccord Genuity Group dropped their target price on shares of Alphatec from $25.00 to $23.00 and set a “buy” rating on the stock in a report on Wednesday, May 6th. Needham & Company LLC cut their target price on shares of Alphatec from $25.00 to $14.00 and set a “buy” rating for the company in a research note on Wednesday, May 6th. Finally, JPMorgan Chase & Co. reduced their target price on shares of Alphatec from $24.00 to $16.00 and set an “overweight” rating for the company in a report on Wednesday, May 6th. Ten equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, Alphatec currently has a consensus rating of “Moderate Buy” and an average price target of $18.58.

Insider Buying and Selling at Alphatec

In related news, Director Karen K. Mcginnis sold 6,050 shares of the company’s stock in a transaction on Thursday, June 11th. The stock was sold at an average price of $8.01, for a total transaction of $48,460.50. Following the transaction, the director directly owned 94,671 shares of the company’s stock, valued at approximately $758,314.71. The trade was a 6.01% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 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. Corporate insiders own 13.48% of the company’s stock.

About Alphatec

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.