Bayesian Capital Management LP Makes New Investment in Alphatec Holdings, Inc. (NASDAQ:ATEC)

Bayesian Capital Management LP acquired a new position in shares of Alphatec Holdings, Inc. (NASDAQ:ATEC - Free Report) in the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm acquired 49,500 shares of the medical technology company's stock, valued at approximately $454,000.

Other institutional investors and hedge funds also recently modified their holdings of the company. BNP Paribas Financial Markets boosted its holdings in shares of Alphatec by 1,665.1% in the fourth quarter. BNP Paribas Financial Markets now owns 381,324 shares of the medical technology company's stock worth $3,501,000 after buying an additional 359,721 shares during the period. AlTi Global Inc. purchased a new position in Alphatec during the 4th quarter valued at about $92,000. Mercer Global Advisors Inc. ADV increased its holdings in shares of Alphatec by 0.6% in the 4th quarter. Mercer Global Advisors Inc. ADV now owns 288,967 shares of the medical technology company's stock valued at $2,653,000 after purchasing an additional 1,784 shares during the period. Comerica Bank boosted its holdings in shares of Alphatec by 66.8% during the fourth quarter. Comerica Bank now owns 3,116 shares of the medical technology company's stock worth $29,000 after purchasing an additional 1,248 shares during the period. Finally, AQR Capital Management LLC increased its stake in Alphatec by 18.6% in the 4th quarter. AQR Capital Management LLC now owns 628,958 shares of the medical technology company's stock valued at $5,774,000 after buying an additional 98,622 shares during the period. 66.35% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on ATEC shares. StockNews.com raised shares of Alphatec from a "sell" rating to a "hold" rating in a research report on Friday, February 28th. Piper Sandler restated an "overweight" rating and set a $15.00 target price (up previously from $13.00) on shares of Alphatec in a research report on Friday, May 2nd. Needham & Company LLC reaffirmed a "buy" rating and set a $16.00 price objective on shares of Alphatec in a report on Friday, May 2nd. Barclays upped their price objective on shares of Alphatec from $20.00 to $21.00 and gave the company an "overweight" rating in a research report on Wednesday, January 22nd. Finally, HC Wainwright reiterated a "buy" rating and issued a $20.00 price target on shares of Alphatec in a research note on Monday, April 14th. Two research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $17.89.

Alphatec Price Performance

Shares of NASDAQ ATEC traded down $0.52 during mid-day trading on Friday, reaching $12.22. The company had a trading volume of 1,888,232 shares, compared to its average volume of 2,046,422. The company has a debt-to-equity ratio of 30.21, a quick ratio of 1.15 and a current ratio of 2.32. The firm has a market cap of $1.79 billion, a price-to-earnings ratio of -9.55 and a beta of 1.06. Alphatec Holdings, Inc. has a one year low of $4.88 and a one year high of $12.82. The business's 50-day simple moving average is $10.50 and its 200 day simple moving average is $10.10.

Alphatec (NASDAQ:ATEC - Get Free Report) last released its quarterly earnings data on Thursday, May 1st. The medical technology company reported ($0.35) earnings per share for the quarter, missing the consensus estimate of ($0.12) by ($0.23). The company had revenue of $169.18 million during the quarter, compared to the consensus estimate of $167.57 million. Alphatec had a negative net margin of 31.06% and a negative return on equity of 541.39%. The business's revenue was up 22.2% compared to the same quarter last year. During the same quarter in the prior year, the firm earned ($0.34) EPS. On average, research analysts predict that Alphatec Holdings, Inc. will post -1.08 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, COO Scott Lish sold 12,000 shares of the business's stock in a transaction that occurred on Monday, May 5th. The shares were sold at an average price of $12.12, for a total value of $145,440.00. Following the sale, the chief operating officer now owns 826,251 shares of the company's stock, valued at $10,014,162.12. The trade was a 1.43 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Patrick Miles sold 12,691 shares of the firm's stock in a transaction that occurred on Friday, March 7th. The stock was sold at an average price of $10.64, for a total transaction of $135,032.24. Following the completion of the transaction, the chief executive officer now directly owns 5,857,603 shares of the company's stock, valued at approximately $62,324,895.92. This trade represents a 0.22 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 126,945 shares of company stock valued at $1,416,352. Company 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.