Western Standard LLC Acquires New Holdings in Alphatec Holdings, Inc. (NASDAQ:ATEC)

Western Standard LLC acquired a new stake in shares of Alphatec Holdings, Inc. (NASDAQ:ATEC - Free Report) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 726,373 shares of the medical technology company's stock, valued at approximately $6,668,000. Alphatec comprises about 4.4% of Western Standard LLC's portfolio, making the stock its 9th largest holding. Western Standard LLC owned about 0.51% of Alphatec as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of ATEC. Soviero Asset Management LP bought a new position in Alphatec in the fourth quarter worth about $918,000. Wexford Capital LP bought a new position in Alphatec in the fourth quarter worth about $95,000. Two Sigma Advisers LP raised its stake in Alphatec by 74.7% in the fourth quarter. Two Sigma Advisers LP now owns 145,900 shares of the medical technology company's stock worth $1,339,000 after buying an additional 62,400 shares in the last quarter. Two Sigma Investments LP raised its stake in Alphatec by 71.4% in the fourth quarter. Two Sigma Investments LP now owns 371,286 shares of the medical technology company's stock worth $3,408,000 after buying an additional 154,616 shares in the last quarter. Finally, State of Wyoming bought a new position in Alphatec in the fourth quarter worth about $86,000. 66.35% of the stock is owned by institutional investors.

Insider Activity

In other news, EVP David Sponsel sold 33,732 shares of the stock in a transaction that occurred on Thursday, March 6th. The shares were sold at an average price of $10.83, for a total transaction of $365,317.56. Following the sale, the executive vice president now owns 668,977 shares in the company, valued at $7,245,020.91. This represents a 4.80% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, COO Scott Lish sold 23,183 shares of the stock in a transaction that occurred on Thursday, February 27th. The shares were sold at an average price of $12.03, for a total transaction of $278,891.49. Following the sale, the chief operating officer now owns 844,494 shares in the company, valued at approximately $10,159,262.82. The trade was a 2.67% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 182,320 shares of company stock worth $2,136,227 over the last 90 days. 22.80% of the stock is currently owned by insiders.

Alphatec Stock Down 0.2%

ATEC traded down $0.03 during midday trading on Friday, reaching $12.45. The company's stock had a trading volume of 1,300,728 shares, compared to its average volume of 2,041,820. The firm has a market capitalization of $1.82 billion, a price-to-earnings ratio of -9.73 and a beta of 1.06. The company has a current ratio of 2.32, a quick ratio of 1.15 and a debt-to-equity ratio of 30.21. Alphatec Holdings, Inc. has a 1 year low of $4.88 and a 1 year high of $13.14. The stock's 50-day moving average is $11.06 and its 200-day moving average is $10.54.

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

Analyst Ratings Changes

A number of equities analysts recently issued reports on the stock. Piper Sandler reissued an "overweight" rating and issued a $15.00 price target (up from $13.00) on shares of Alphatec in a research note on Friday, May 2nd. HC Wainwright reissued a "buy" rating and issued a $20.00 price target on shares of Alphatec in a research note on Monday, April 14th. Needham & Company LLC reissued a "buy" rating and issued a $16.00 price target on shares of Alphatec in a research note on Friday, May 2nd. Finally, Wall Street Zen raised shares of Alphatec from a "sell" rating to a "hold" rating in a research note on Friday, February 28th. Two equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and an average 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.