143,851 Shares in Alphatec Holdings, Inc. $ATEC Acquired by FirstWave Capital Management LLC

Key Points

• FirstWave Capital Management acquired 143,851 Alphatec shares in the second quarter, valued at approximately $1.24 million; institutional investors collectively own 66.35% of ATEC.
• Analyst sentiment remains broadly positive, with a consensus “Moderate Buy” rating and an average price target of $17.40, despite some downgrades and a sell rating.
• Alphatec reported quarterly revenue of $213.51 million, up 15.1% year over year, while earnings per share of $0.07 matched estimates; analysts nevertheless expect a full-year loss of $0.45 per share.

FirstWave Capital Management LLC acquired a new stake in shares of Alphatec Holdings, Inc. (NASDAQ:ATEC - Free Report) in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 143,851 shares of the medical technology company's stock, valued at approximately $1,244,000. FirstWave Capital Management LLC owned 0.09% of Alphatec at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in ATEC. Creative Planning boosted its holdings in shares of Alphatec by 0.9% during the third quarter. Creative Planning now owns 58,654 shares of the medical technology company's stock valued at $853,000 after acquiring an additional 534 shares during the period. Great Lakes Advisors LLC increased its holdings in shares of Alphatec by 0.4% in the 4th quarter. Great Lakes Advisors LLC now owns 278,717 shares of the medical technology company's stock worth $5,864,000 after acquiring an additional 1,226 shares during the period. Franklin Resources Inc. increased its holdings in shares of Alphatec by 2.0% in the 4th quarter. Franklin Resources Inc. now owns 64,774 shares of the medical technology company's stock worth $1,363,000 after acquiring an additional 1,299 shares during the period. Oppenheimer Asset Management Inc. lifted its position in Alphatec by 9.9% in the 4th quarter. Oppenheimer Asset Management Inc. now owns 15,075 shares of the medical technology company's stock valued at $317,000 after purchasing an additional 1,353 shares during the last quarter. Finally, Northwestern Mutual Wealth Management Co. lifted its position in Alphatec by 157.1% in the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 2,571 shares of the medical technology company's stock valued at $54,000 after purchasing an additional 1,571 shares during the last quarter. 66.35% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

ATEC has been the subject of several recent analyst reports. Stephens initiated coverage on shares of Alphatec in a research report on Thursday, July 23rd. They issued an "overweight" rating and a $15.00 target price for the company. Weiss Ratings reiterated a "sell (d-)" rating on shares of Alphatec in a research report on Monday, August 3rd. Stifel Nicolaus decreased their price objective on Alphatec from $16.00 to $13.00 and set a "buy" rating for the company in a report on Wednesday, July 8th. UBS Group boosted their price target on Alphatec from $15.00 to $16.00 and gave the stock a "buy" rating in a research report on Wednesday, August 5th. Finally, Wall Street Zen cut Alphatec from a "buy" rating to a "hold" rating in a research note on Sunday, July 12th. Thirteen investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $17.40.

Insider Transactions at Alphatec

In other news, Director Karen K. Mcginnis sold 6,050 shares of the firm's stock in a transaction dated Thursday, June 11th. The shares were sold at an average price of $8.01, for a total transaction of $48,460.50. Following the completion of the transaction, the director owned 94,671 shares in the company, valued at approximately $758,314.71. This trade represents a 6.01% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, General Counsel Tyson Marshall sold 8,168 shares of Alphatec stock in a transaction that occurred on Wednesday, August 5th. The stock was sold at an average price of $9.65, for a total transaction of $78,821.20. Following the completion of the transaction, the general counsel directly owned 630,398 shares in the company, valued at $6,083,340.70. This represents a 1.28% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. 13.48% of the stock is owned by insiders.

Alphatec Price Performance

NASDAQ ATEC opened at $9.45 on Friday. Alphatec Holdings, Inc. has a 12 month low of $6.82 and a 12 month high of $23.29. The company has a debt-to-equity ratio of 40.35, a current ratio of 1.89 and a quick ratio of 1.07. The firm has a market capitalization of $1.46 billion, a PE ratio of -13.31 and a beta of 0.85. The company's 50 day simple moving average is $9.26 and its 200 day simple moving average is $9.95.

Alphatec (NASDAQ:ATEC - Get Free Report) last released its earnings results on Tuesday, August 4th. The medical technology company reported $0.07 earnings per share for the quarter, hitting analysts' consensus estimates of $0.07. Alphatec had a negative return on equity of 6,752.24% and a negative net margin of 13.49%.The firm had revenue of $213.51 million during the quarter, compared to the consensus estimate of $211.26 million. During the same period in the prior year, the firm posted $0.02 earnings per share. The firm's revenue for the quarter was up 15.1% compared to the same quarter last year. As a group, equities research analysts forecast that Alphatec Holdings, Inc. will post -0.45 EPS for the current fiscal year.

About Alphatec

Alphatec Holdings, Inc NASDAQ: ATEC is a medical technology company focused on the design, development and commercialization of products for the surgical correction of degenerative spinal conditions. The company's portfolio centers on interbody implants, biologics, fixation devices and surgical planning tools intended to improve patient outcomes in spinal fusion procedures. Alphatec's flagship offerings include customizable interbody cages, bone graft materials and specialized instrumentation designed for minimally invasive and open spinal surgeries.

Founded as Alphatec Spine in 1985 and rebranded as Alphatec Holdings in 2018, the company has grown from a single-product organization into a multi-platform innovator in the spine market.

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