Alphatec Holdings, Inc. $ATEC Shares Purchased by Emerald Mutual Fund Advisers Trust

Key Points

• Emerald Mutual Fund Advisers Trust increased its Alphatec stake by 27.1% in the first quarter, adding 246,773 shares to bring its total to 1,156,826 shares, worth about $12.6 million.
• Alphatec also saw mixed insider and institutional activity: director Karen K. Mcginnis sold 6,050 shares under a pre-arranged trading plan, while several other funds disclosed new or larger positions in the stock.
• Analyst sentiment remains cautiously positive, with a Moderate Buy consensus and a $17.46 average price target, though several firms recently trimmed their targets and one analyst downgraded the shares to hold.

Emerald Mutual Fund Advisers Trust grew its position in shares of Alphatec Holdings, Inc. (NASDAQ:ATEC - Free Report) by 27.1% during the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,156,826 shares of the medical technology company's stock after purchasing an additional 246,773 shares during the period. Emerald Mutual Fund Advisers Trust owned approximately 0.75% of Alphatec worth $12,586,000 as of its most recent SEC filing.

A number of other institutional investors have also modified their holdings of ATEC. Summit Securities Group LLC purchased a new stake in shares of Alphatec in the 1st quarter valued at $29,000. Osterweis Capital Management Inc. purchased a new position in Alphatec during the 2nd quarter valued at about $37,000. Northwestern Mutual Wealth Management Co. grew 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 acquiring an additional 1,571 shares in the last quarter. FNY Investment Advisers LLC acquired a new position in Alphatec in the 3rd quarter valued at about $74,000. Finally, State of Wyoming purchased a new stake in Alphatec during the second quarter worth about $124,000. 66.35% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Alphatec

In other Alphatec news, Director Karen K. Mcginnis sold 6,050 shares of the stock in a transaction that occurred on Thursday, June 11th. The shares were sold at an average price of $8.01, for a total value of $48,460.50. Following the sale, the director directly owned 94,671 shares of the company's stock, valued at approximately $758,314.71. This represents a 6.01% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at 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. Corporate insiders own 13.48% of the company's stock.

Alphatec Stock Performance

Shares of Alphatec stock opened at $9.74 on Tuesday. The business has a 50-day simple moving average of $8.36 and a 200-day simple moving average of $12.12. The company has a debt-to-equity ratio of 40.35, a quick ratio of 1.12 and a current ratio of 1.90. Alphatec Holdings, Inc. has a one year low of $6.82 and a one year high of $23.29. The company has a market cap of $1.50 billion, a PE ratio of -11.88 and a beta of 0.85.

Analyst Ratings Changes

Several analysts have recently issued reports on ATEC shares. Needham & Company LLC reduced their price target on shares of Alphatec from $25.00 to $14.00 and set a "buy" rating on the stock in a research report on Wednesday, May 6th. Wall Street Zen cut shares of Alphatec from a "buy" rating to a "hold" rating in a report on Sunday. Lake Street Capital reaffirmed a "buy" rating and set a $15.00 target price on shares of Alphatec in a research note on Wednesday, May 6th. Canaccord Genuity Group reduced their target price on shares of Alphatec from $25.00 to $23.00 and set a "buy" rating on the stock in a report on Wednesday, May 6th. Finally, TD Cowen reduced their target price on shares of Alphatec from $20.00 to $11.00 and set a "buy" rating on the stock in a report on Wednesday, May 6th. One equities research analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, Alphatec currently has a consensus rating of "Moderate Buy" and a consensus target price of $17.46.

Alphatec Profile

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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