Birchview Capital LP Sells 140,000 Shares of Alphatec Holdings, Inc. (NASDAQ:ATEC)

Birchview Capital LP lowered its position in shares of Alphatec Holdings, Inc. (NASDAQ:ATEC) by 70.7% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 58,000 shares of the medical technology company’s stock after selling 140,000 shares during the period. Birchview Capital LP’s holdings in Alphatec were worth $532,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of ATEC. Barclays PLC increased its holdings in shares of Alphatec by 362.3% in the third quarter. Barclays PLC now owns 170,546 shares of the medical technology company’s stock worth $948,000 after purchasing an additional 133,653 shares during the period. Franklin Resources Inc. increased its stake in Alphatec by 299.3% in the 3rd quarter. Franklin Resources Inc. now owns 64,450 shares of the medical technology company’s stock worth $343,000 after acquiring an additional 48,308 shares during the last quarter. Congress Asset Management Co. raised its holdings in shares of Alphatec by 235.4% in the 4th quarter. Congress Asset Management Co. now owns 434,966 shares of the medical technology company’s stock valued at $3,993,000 after acquiring an additional 305,296 shares in the last quarter. Rhumbline Advisers boosted its position in shares of Alphatec by 1.3% during the 4th quarter. Rhumbline Advisers now owns 139,088 shares of the medical technology company’s stock valued at $1,277,000 after acquiring an additional 1,746 shares during the last quarter. Finally, Nisa Investment Advisors LLC grew its holdings in shares of Alphatec by 973.3% during the fourth quarter. Nisa Investment Advisors LLC now owns 4,669 shares of the medical technology company’s stock worth $43,000 after purchasing an additional 4,234 shares in the last quarter. Institutional investors own 66.35% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on ATEC shares. Needham & Company LLC reaffirmed a “buy” rating and issued a $16.00 target price on shares of Alphatec in a research note on Thursday, February 27th. Piper Sandler lifted their price objective on shares of Alphatec from $12.00 to $13.00 and gave the stock an “overweight” rating in a report on Thursday, February 27th. StockNews.com raised Alphatec from a “sell” rating to a “hold” rating in a research note on Friday, February 28th. HC Wainwright restated a “buy” rating and set a $20.00 price target on shares of Alphatec in a research report on Monday, April 14th. Finally, Barclays upped their price objective on Alphatec from $20.00 to $21.00 and gave the stock an “overweight” rating in a report on Wednesday, January 22nd. Two research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $17.67.

Insider Activity

In other Alphatec news, EVP David Sponsel sold 36,256 shares of the stock in a transaction dated Monday, February 3rd. The stock was sold at an average price of $11.42, for a total value of $414,043.52. Following the transaction, the executive vice president now owns 735,074 shares of the company’s stock, valued at approximately $8,394,545.08. This represents a 4.70 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, COO Scott Lish sold 27,453 shares of the firm’s stock in a transaction that occurred on Thursday, February 6th. The stock was sold at an average price of $11.49, for a total transaction of $315,434.97. Following the completion of the transaction, the chief operating officer now directly owns 867,677 shares in the company, valued at approximately $9,969,608.73. The trade was a 3.07 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 272,113 shares of company stock valued at $3,121,225 in the last 90 days. 22.80% of the stock is currently owned by insiders.

Alphatec Price Performance

Shares of Alphatec stock opened at $11.51 on Friday. Alphatec Holdings, Inc. has a one year low of $4.88 and a one year high of $13.79. The stock has a market capitalization of $1.66 billion, a P/E ratio of -8.99 and a beta of 1.20. The business’s 50 day simple moving average is $10.40 and its two-hundred day simple moving average is $9.65. The company has a debt-to-equity ratio of 30.21, a current ratio of 2.32 and a quick ratio of 1.15.

Alphatec (NASDAQ:ATEC) last issued its earnings results on Wednesday, February 26th. The medical technology company reported ($0.23) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.19) by ($0.04). The firm had revenue of $176.79 million during the quarter, compared to the consensus estimate of $172.74 million. Alphatec had a negative return on equity of 541.39% and a negative net margin of 31.06%. Analysts forecast that Alphatec Holdings, Inc. will post -1.08 EPS for the current year.

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.