Divisadero Street Capital Management LP Invests $1.10 Million in Alphatec Holdings, Inc. (NASDAQ:ATEC)

Divisadero Street Capital Management LP bought a new position in shares of Alphatec Holdings, Inc. (NASDAQ:ATEC - Free Report) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 119,348 shares of the medical technology company's stock, valued at approximately $1,096,000. Divisadero Street Capital Management LP owned approximately 0.08% of Alphatec at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of ATEC. Barclays PLC increased its holdings in shares of Alphatec by 362.3% in the 3rd quarter. Barclays PLC now owns 170,546 shares of the medical technology company's stock valued at $948,000 after acquiring an additional 133,653 shares during the last quarter. Courier Capital LLC increased its stake in Alphatec by 76.9% in the fourth quarter. Courier Capital LLC now owns 69,000 shares of the medical technology company's stock valued at $633,000 after purchasing an additional 30,000 shares during the last quarter. Ballentine Partners LLC purchased a new position in Alphatec in the fourth quarter valued at approximately $120,000. Nisa Investment Advisors LLC raised its holdings in 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. Finally, Mount Yale Investment Advisors LLC purchased a new stake in shares of Alphatec during the 4th quarter worth approximately $152,000. Hedge funds and other institutional investors own 66.35% of the company's stock.

Alphatec Price Performance

ATEC traded down $0.52 on Friday, hitting $12.22. 1,888,232 shares of the company were exchanged, compared to its average volume of 2,046,862. The business's fifty day moving average is $10.50 and its 200 day moving average is $10.13. Alphatec Holdings, Inc. has a fifty-two week low of $4.88 and a fifty-two week high of $12.82. 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 capitalization of $1.79 billion, a P/E ratio of -9.55 and a beta of 1.06.

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 firm had revenue of $169.18 million during the quarter, compared to analysts' expectations 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 for the quarter was up 22.2% on a year-over-year basis. During the same period in the previous year, the business earned ($0.34) earnings per share. As a group, sell-side analysts anticipate that Alphatec Holdings, Inc. will post -1.08 EPS for the current year.

Insider Buying and Selling

In other Alphatec news, EVP David Sponsel sold 33,732 shares of the company's stock in a transaction dated Thursday, March 6th. The shares were sold at an average price of $10.83, for a total value of $365,317.56. Following the sale, the executive vice president now owns 668,977 shares of the company's stock, valued at $7,245,020.91. This represents a 4.80 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Patrick Miles sold 32,393 shares of the stock in a transaction that occurred on Wednesday, February 26th. The shares were sold at an average price of $10.89, for a total transaction of $352,759.77. Following the completion of the sale, the chief executive officer now owns 5,940,391 shares in the company, valued at $64,690,857.99. This represents a 0.54 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 126,945 shares of company stock worth $1,416,352 in the last three months. Corporate insiders own 20.90% of the company's stock.

Analysts Set New Price Targets

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

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.