Alphatec Holdings, Inc. $ATEC Shares Sold by Algert Global LLC

Key Points

• Algert Global LLC has reduced its stake in Alphatec Holdings, Inc. by 11.6%, now holding 145,669 shares valued at approximately $1.48 million.
• Alphatec announced a profit of $0.02 earnings per share for the quarter, surpassing estimates and marking a 27.5% increase in revenue year-over-year.
• Several analysts have upgraded Alphatec's stock rating to "buy", with a consensus price target set at $18.50.

Algert Global LLC trimmed its stake in Alphatec Holdings, Inc. (NASDAQ:ATEC - Free Report) by 11.6% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 145,669 shares of the medical technology company's stock after selling 19,170 shares during the quarter. Algert Global LLC owned approximately 0.10% of Alphatec worth $1,477,000 at the end of the most recent quarter.

Other institutional investors also recently made changes to their positions in the company. GAMMA Investing LLC raised its holdings in shares of Alphatec by 38,433.3% in the first quarter. GAMMA Investing LLC now owns 2,312 shares of the medical technology company's stock worth $228,000 after acquiring an additional 2,306 shares during the last quarter. Comerica Bank raised its holdings in shares of Alphatec by 66.8% in the fourth quarter. Comerica Bank now owns 3,116 shares of the medical technology company's stock worth $29,000 after acquiring an additional 1,248 shares during the last quarter. Larson Financial Group LLC acquired a new position in Alphatec in the first quarter valued at $54,000. Quarry LP increased its stake in Alphatec by 79.2% in the fourth quarter. Quarry LP now owns 5,374 shares of the medical technology company's stock valued at $49,000 after purchasing an additional 2,375 shares during the last quarter. Finally, Lazard Asset Management LLC acquired a new position in Alphatec in the fourth quarter valued at $76,000. 66.35% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Alphatec

In other news, COO Scott Lish sold 6,323 shares of the company's stock in a transaction dated Thursday, August 21st. The stock was sold at an average price of $16.01, for a total value of $101,231.23. Following the completion of the sale, the chief operating officer owned 658,707 shares of the company's stock, valued at $10,545,899.07. This represents a 0.95% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, General Counsel Tyson Eliot Marshall sold 18,092 shares of the company's stock in a transaction dated Tuesday, August 5th. The stock was sold at an average price of $14.91, for a total value of $269,751.72. Following the completion of the sale, the general counsel directly owned 438,331 shares of the company's stock, valued at $6,535,515.21. The trade was a 3.96% decrease in their position. The disclosure for this sale can be found here. Insiders sold 410,247 shares of company stock valued at $5,376,804 over the last quarter. Company insiders own 22.80% of the company's stock.

Alphatec Trading Up 0.7%

NASDAQ:ATEC traded up $0.12 on Wednesday, hitting $16.17. 846,182 shares of the stock were exchanged, compared to its average volume of 2,059,030. The stock has a market cap of $2.39 billion, a PE ratio of -14.31 and a beta of 1.05. The company has a current ratio of 2.88, a quick ratio of 1.77 and a debt-to-equity ratio of 23.22. The stock has a fifty day moving average of $12.57 and a 200-day moving average of $11.63. Alphatec Holdings, Inc. has a fifty-two week low of $4.88 and a fifty-two week high of $16.47.

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

Wall Street Analyst Weigh In

ATEC has been the subject of several analyst reports. Wall Street Zen upgraded Alphatec from a "hold" rating to a "buy" rating in a research note on Saturday, August 9th. Canaccord Genuity Group reiterated a "buy" rating and issued a $20.00 target price on shares of Alphatec in a research note on Friday, August 1st. Lake Street Capital upgraded Alphatec to a "buy" rating and set a $18.00 target price for the company in a research note on Monday, June 16th. Piper Sandler reiterated an "overweight" rating and issued a $15.00 target price (up from $13.00) on shares of Alphatec in a research note on Friday, May 2nd. Finally, Needham & Company LLC reiterated a "buy" rating and issued a $16.00 target price on shares of Alphatec in a research note on Friday, May 2nd. Six equities research analysts have rated the stock with a Buy rating, Based on data from MarketBeat, Alphatec has a consensus rating of "Buy" and a consensus target price of $18.50.

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.