PNC Financial Services Group Inc. Reduces Position in Alphatec Holdings, Inc. (NASDAQ:ATEC)

PNC Financial Services Group Inc. trimmed its holdings in Alphatec Holdings, Inc. (NASDAQ:ATEC) by 3.4% during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 311,834 shares of the medical technology company’s stock after selling 11,054 shares during the quarter. PNC Financial Services Group Inc. owned approximately 0.22% of Alphatec worth $1,734,000 at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. Net Worth Advisory Group purchased a new stake in Alphatec in the third quarter worth $76,000. Comerica Bank grew its holdings in shares of Alphatec by 64.8% in the first quarter. Comerica Bank now owns 6,443 shares of the medical technology company’s stock worth $89,000 after purchasing an additional 2,534 shares during the last quarter. Van ECK Associates Corp increased its stake in Alphatec by 57.0% in the 3rd quarter. Van ECK Associates Corp now owns 19,273 shares of the medical technology company’s stock worth $99,000 after buying an additional 6,998 shares during the period. Tempus Wealth Planning LLC bought a new stake in Alphatec during the 3rd quarter valued at about $107,000. Finally, Atria Investments Inc boosted its position in Alphatec by 8.0% in the 3rd quarter. Atria Investments Inc now owns 19,609 shares of the medical technology company’s stock valued at $109,000 after buying an additional 1,460 shares during the period. Hedge funds and other institutional investors own 66.35% of the company’s stock.

Alphatec Trading Down 0.1 %

NASDAQ ATEC opened at $9.61 on Wednesday. The firm has a market cap of $1.36 billion, a PE ratio of -7.45 and a beta of 1.31. Alphatec Holdings, Inc. has a 52 week low of $4.88 and a 52 week high of $17.34. 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 company has a 50 day moving average price of $6.78 and a 200 day moving average price of $8.21.

Wall Street Analysts Forecast Growth

ATEC has been the subject of a number of research reports. Canaccord Genuity Group reiterated a “buy” rating and issued a $20.00 price target on shares of Alphatec in a report on Friday, August 30th. HC Wainwright restated a “buy” rating and set a $20.00 price target on shares of Alphatec in a research note on Thursday, October 31st. Piper Sandler lowered their price objective on shares of Alphatec from $17.00 to $12.00 and set an “overweight” rating for the company in a research note on Thursday, August 1st. Wells Fargo & Company cut their target price on shares of Alphatec from $26.00 to $19.00 and set an “overweight” rating on the stock in a research report on Thursday, August 1st. Finally, Barclays boosted their price target on shares of Alphatec from $19.00 to $20.00 and gave the company an “overweight” rating in a report on Tuesday, November 19th. One analyst has rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to data from MarketBeat, Alphatec currently has a consensus rating of “Moderate Buy” and an average price target of $17.11.

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.