Great Lakes Advisors LLC Trims Stake in Alphatec Holdings, Inc. $ATEC

Key Points

• Great Lakes Advisors LLC reduced its stake in Alphatec Holdings, Inc. by 14.2%, owning 325,227 shares worth $3.3 million after selling 53,960 shares.
• Alphatec reported a quarterly revenue of $185.54 million, surpassing analyst estimates, and achieved a positive EPS of $0.02, compared to a loss of ($0.29) EPS from the previous year.
• Several analysts upgraded Alphatec's stock to a buy rating, with the average price target set at $18.50, indicating a bullish outlook on the company's prospects.

Great Lakes Advisors LLC trimmed its stake in Alphatec Holdings, Inc. (NASDAQ:ATEC - Free Report) by 14.2% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 325,227 shares of the medical technology company's stock after selling 53,960 shares during the quarter. Great Lakes Advisors LLC owned 0.22% of Alphatec worth $3,298,000 at the end of the most recent quarter.

Several other hedge funds have also recently modified their holdings of the business. Dynamic Technology Lab Private Ltd purchased a new stake in shares of Alphatec during the first quarter valued at $257,000. Parkman Healthcare Partners LLC boosted its position in shares of Alphatec by 95.4% during the first quarter. Parkman Healthcare Partners LLC now owns 446,106 shares of the medical technology company's stock valued at $4,524,000 after buying an additional 217,772 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in shares of Alphatec by 4.5% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 74,005 shares of the medical technology company's stock valued at $750,000 after buying an additional 3,196 shares during the last quarter. AQR Capital Management LLC boosted its position in shares of Alphatec by 7.6% during the first quarter. AQR Capital Management LLC now owns 676,897 shares of the medical technology company's stock valued at $6,864,000 after buying an additional 47,939 shares during the last quarter. Finally, PDT Partners LLC purchased a new stake in shares of Alphatec during the first quarter valued at $1,136,000. Hedge funds and other institutional investors own 66.35% of the company's stock.

Analyst Ratings Changes

Several research firms recently commented on ATEC. Lake Street Capital raised Alphatec to a "buy" rating and set a $18.00 price objective on the stock in a research report on Monday, June 16th. Canaccord Genuity Group reissued a "buy" rating and issued a $20.00 target price on shares of Alphatec in a report on Friday, August 1st. Barclays reissued an "overweight" rating and issued a $22.00 target price (up previously from $21.00) on shares of Alphatec in a report on Monday, August 4th. Finally, Wall Street Zen raised Alphatec from a "hold" rating to a "buy" rating in a report on Sunday, September 7th. Six research analysts have rated the stock with a Buy rating, According to MarketBeat, Alphatec has an average rating of "Buy" and an average price target of $18.50.

Insider Activity

In related news, Director Mortimer Berkowitz III sold 62,500 shares of the firm's stock in a transaction that occurred on Tuesday, September 9th. The stock was sold at an average price of $15.97, for a total transaction of $998,125.00. Following the completion of the sale, the director directly owned 618,050 shares of the company's stock, valued at approximately $9,870,258.50. This trade represents a 9.18% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Patrick Miles sold 300,000 shares of the firm's stock in a transaction that occurred on Tuesday, September 2nd. The stock was sold at an average price of $15.73, for a total value of $4,719,000.00. Following the sale, the chief executive officer directly owned 5,564,078 shares of the company's stock, valued at $87,522,946.94. This represents a 5.12% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 546,057 shares of company stock worth $8,326,072 in the last three months. Corporate insiders own 22.80% of the company's stock.

Alphatec Trading Down 1.0%

Shares of NASDAQ:ATEC traded down $0.15 during trading on Tuesday, hitting $14.90. The company had a trading volume of 114,318 shares, compared to its average volume of 2,061,080. Alphatec Holdings, Inc. has a one year low of $4.88 and a one year high of $16.70. The company has a debt-to-equity ratio of 23.22, a current ratio of 2.88 and a quick ratio of 1.77. The stock has a market cap of $2.20 billion, a price-to-earnings ratio of -13.22 and a beta of 1.02. The company has a fifty day simple moving average of $13.93 and a two-hundred day simple moving average of $12.11.

Alphatec (NASDAQ:ATEC - Get Free Report) last issued its quarterly earnings results on Thursday, July 31st. The medical technology company reported $0.02 earnings per share (EPS) for the quarter, topping analysts' consensus estimates 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 firm had revenue of $185.54 million during the quarter, compared to analyst estimates of $178.85 million. During the same period last year, the company earned ($0.29) EPS. Alphatec's quarterly revenue was up 27.5% compared to the same quarter last year. Alphatec has set its FY 2025 guidance at EPS. As a group, equities analysts forecast that Alphatec Holdings, Inc. will post -1.08 earnings per share for the current year.

Alphatec Company Profile

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.