BNP Paribas Financial Markets Increases Position in Alphatec Holdings, Inc. (NASDAQ:ATEC)

BNP Paribas Financial Markets lifted its position in Alphatec Holdings, Inc. (NASDAQ:ATEC - Free Report) by 1,665.1% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 381,324 shares of the medical technology company's stock after acquiring an additional 359,721 shares during the quarter. BNP Paribas Financial Markets owned approximately 0.27% of Alphatec worth $3,501,000 at the end of the most recent reporting period.

Several other institutional investors also recently added to or reduced their stakes in the stock. R Squared Ltd bought a new position in Alphatec during the fourth quarter worth about $29,000. Comerica Bank raised its stake in Alphatec by 66.8% in the fourth quarter. Comerica Bank now owns 3,116 shares of the medical technology company's stock valued at $29,000 after purchasing an additional 1,248 shares in the last quarter. Nisa Investment Advisors LLC raised its stake 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 acquiring an additional 4,234 shares in the last quarter. Quarry LP raised its stake in shares of Alphatec by 79.2% during the fourth quarter. Quarry LP now owns 5,374 shares of the medical technology company's stock worth $49,000 after acquiring an additional 2,375 shares in the last quarter. Finally, Newton One Investments LLC bought a new position in shares of Alphatec in the fourth quarter worth approximately $50,000. Institutional investors own 66.35% of the company's stock.

Insider Activity

In related news, CEO Patrick Miles sold 32,393 shares of the firm's stock in a transaction on Wednesday, February 26th. The stock was sold at an average price of $10.89, for a total transaction of $352,759.77. Following the completion of the transaction, the chief executive officer now directly owns 5,940,391 shares of the company's stock, valued at $64,690,857.99. This trade represents a 0.54% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, COO Scott Lish sold 12,000 shares of Alphatec stock in a transaction dated Monday, May 5th. The stock was sold at an average price of $12.12, for a total value of $145,440.00. Following the completion of the transaction, the chief operating officer now directly owns 826,251 shares of the company's stock, valued at approximately $10,014,162.12. This trade represents a 1.43% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 126,945 shares of company stock worth $1,416,352. Insiders own 20.90% of the company's stock.

Wall Street Analysts Forecast Growth

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

Alphatec Stock Performance

Shares of NASDAQ:ATEC traded down $0.18 during trading on Tuesday, hitting $12.85. 119,514 shares of the company traded hands, compared to its average volume of 2,027,968. 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 business's fifty day moving average is $10.80 and its 200-day moving average is $10.44. The stock has a market capitalization of $1.88 billion, a price-to-earnings ratio of -9.98 and a beta of 1.06. Alphatec Holdings, Inc. has a one year low of $4.88 and a one year high of $13.14.

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

About Alphatec

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.