HighMark Wealth Management LLC Reduces Stock Position in Alphatec Holdings, Inc. (NASDAQ:ATEC)

HighMark Wealth Management LLC reduced its holdings in Alphatec Holdings, Inc. (NASDAQ:ATEC) by 7.4% during the fourth quarter, Holdings Channel.com reports. The institutional investor owned 99,400 shares of the medical technology company’s stock after selling 8,000 shares during the quarter. Alphatec accounts for about 0.5% of HighMark Wealth Management LLC’s investment portfolio, making the stock its 23rd largest holding. HighMark Wealth Management LLC’s holdings in Alphatec were worth $912,000 as of its most recent filing with the SEC.

Several other large investors have also added to or reduced their stakes in ATEC. BNP PARIBAS ASSET MANAGEMENT Holding S.A. grew its stake in Alphatec by 11.3% in the third quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 2,928,094 shares of the medical technology company’s stock worth $16,280,000 after purchasing an additional 297,850 shares during the period. Barclays PLC grew its stake 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 acquiring an additional 133,653 shares during the period. Franklin Resources Inc. raised its stake in Alphatec by 299.3% during the 3rd quarter. Franklin Resources Inc. now owns 64,450 shares of the medical technology company’s stock valued at $343,000 after buying an additional 48,308 shares during the last quarter. AlphaCentric Advisors LLC purchased a new stake in Alphatec during the third quarter valued at $2,057,000. Finally, Royce & Associates LP increased its position in shares of Alphatec by 15.9% during the 3rd quarter. Royce & Associates LP now owns 1,212,286 shares of the medical technology company’s stock valued at $6,740,000 after purchasing an additional 165,954 shares during the last quarter. Institutional investors own 66.35% of the company’s stock.

Alphatec Price Performance

ATEC stock opened at $10.74 on Tuesday. The company has a fifty day simple moving average of $10.39 and a two-hundred day simple moving average of $8.14. The company has a quick ratio of 1.15, a current ratio of 2.32 and a debt-to-equity ratio of 30.21. The firm has a market capitalization of $1.52 billion, a P/E ratio of -8.39 and a beta of 1.43. Alphatec Holdings, Inc. has a 52 week low of $4.88 and a 52 week high of $16.20.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on the company. Barclays raised their target price on Alphatec from $20.00 to $21.00 and gave the stock an “overweight” rating in a report on Wednesday, January 22nd. Needham & Company LLC boosted their price objective on Alphatec from $13.00 to $16.00 and gave the company a “buy” rating in a research report on Monday, January 13th. Finally, HC Wainwright reiterated a “buy” rating and set a $20.00 target price on shares of Alphatec in a research report on Tuesday, January 14th. One research analyst has rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat, Alphatec currently has a consensus rating of “Moderate Buy” and a consensus price target of $17.56.

Insider Buying and Selling

In other news, COO Scott Lish sold 27,453 shares of the stock in a transaction that occurred on Thursday, February 6th. The stock was sold at an average price of $11.49, for a total value of $315,434.97. Following the sale, the chief operating officer now directly owns 867,677 shares in the company, valued at approximately $9,969,608.73. This represents a 3.07 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP David Sponsel sold 58,283 shares of Alphatec stock in a transaction on Monday, January 13th. The stock was sold at an average price of $10.71, for a total value of $624,210.93. Following the sale, the executive vice president now owns 502,311 shares of the company’s stock, valued at approximately $5,379,750.81. This trade represents a 10.40 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 222,376 shares of company stock worth $2,557,148. 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.