MetLife Investment Management LLC Acquires 1,150,669 Shares of Alphatec Holdings, Inc. $ATEC

Key Points

• MetLife Investment Management LLC significantly increased its stake in Alphatec Holdings by 1,818.5%, now owning over 1.2 million shares worth approximately $12.3 million.
• Alphatec received multiple upgrades from research analysts, with new price targets set as high as $22.00, reflecting strong investor confidence in the company's prospects.
• Despite recent insider stock sales, with notable transactions reducing ownership percentages, institutional investors control 66.35% of Alphatec's stock, indicating substantial institutional interest.

MetLife Investment Management LLC grew its holdings in shares of Alphatec Holdings, Inc. (NASDAQ:ATEC - Free Report) by 1,818.5% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,213,943 shares of the medical technology company's stock after purchasing an additional 1,150,669 shares during the quarter. MetLife Investment Management LLC owned about 0.83% of Alphatec worth $12,309,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also modified their holdings of the business. Nuveen LLC bought a new position in shares of Alphatec during the 1st quarter valued at $135,874,000. Vanguard Group Inc. raised its holdings in Alphatec by 0.8% in the 1st quarter. Vanguard Group Inc. now owns 6,014,772 shares of the medical technology company's stock worth $60,990,000 after acquiring an additional 45,792 shares during the period. American Century Companies Inc. raised its holdings in Alphatec by 16.9% in the 1st quarter. American Century Companies Inc. now owns 5,830,031 shares of the medical technology company's stock worth $59,117,000 after acquiring an additional 840,974 shares during the period. Royal Bank of Canada raised its holdings in Alphatec by 171.2% in the 4th quarter. Royal Bank of Canada now owns 3,185,283 shares of the medical technology company's stock worth $29,240,000 after acquiring an additional 2,010,806 shares during the period. Finally, Nuveen Asset Management LLC raised its holdings in Alphatec by 78.4% in the 4th quarter. Nuveen Asset Management LLC now owns 2,584,996 shares of the medical technology company's stock worth $23,730,000 after acquiring an additional 1,136,330 shares during the period. Institutional investors own 66.35% of the company's stock.

Insiders Place Their Bets

In other Alphatec news, COO Scott Lish sold 36,081 shares of the business's stock in a transaction dated Friday, August 1st. The shares were sold at an average price of $12.53, for a total value of $452,094.93. Following the completion of the transaction, the chief operating officer directly owned 708,855 shares of the company's stock, valued at approximately $8,881,953.15. The trade was a 4.84% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP Craig E. Hunsaker sold 186,122 shares of the business's stock in a transaction dated Wednesday, June 4th. The stock was sold at an average price of $12.34, for a total transaction of $2,296,745.48. Following the completion of the transaction, the executive vice president directly owned 1,463,896 shares of the company's stock, valued at approximately $18,064,476.64. This represents a 11.28% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 410,247 shares of company stock valued at $5,376,804. Insiders own 20.90% of the company's stock.

Analyst Ratings Changes

ATEC has been the topic of several research analyst reports. Canaccord Genuity Group restated a "buy" rating and issued a $20.00 price target on shares of Alphatec in a research report on Friday, August 1st. Barclays restated an "overweight" rating and issued a $22.00 price target (up from $21.00) on shares of Alphatec in a research report on Monday, August 4th. Wall Street Zen lowered shares of Alphatec from a "buy" rating to a "hold" rating in a research report on Saturday. Finally, Lake Street Capital upgraded shares of Alphatec to a "buy" rating and set a $18.00 price target on the stock in a research report on Monday, June 16th. Six equities research analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, the stock presently has a consensus rating of "Buy" and a consensus price target of $18.50.

Alphatec Price Performance

NASDAQ:ATEC traded down $0.13 on Friday, reaching $15.90. The stock had a trading volume of 1,651,222 shares, compared to its average volume of 3,265,962. The company has a market capitalization of $2.35 billion, a P/E ratio of -14.07 and a beta of 1.05. Alphatec Holdings, Inc. has a 1-year low of $4.88 and a 1-year high of $16.47. The company has a quick ratio of 1.77, a current ratio of 2.88 and a debt-to-equity ratio of 23.22. The stock has a fifty day moving average price of $12.88 and a 200-day moving average price of $11.74.

Alphatec (NASDAQ:ATEC - Get Free Report) last released its quarterly earnings results on Thursday, July 31st. The medical technology company reported $0.02 EPS for the quarter, beating analysts' consensus estimates of ($0.06) by $0.08. The firm had revenue of $185.54 million for the quarter, compared to analyst estimates of $178.85 million. Alphatec had a negative net margin of 24.33% and a negative return on equity of 1,657.19%. The company's revenue for the quarter was up 27.5% compared to the same quarter last year. During the same period in the previous year, the business earned ($0.29) earnings per share. Alphatec has set its FY 2025 guidance at EPS. Research analysts forecast that Alphatec Holdings, Inc. will post -1.08 EPS for the current 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.