Polar Asset Management Partners Inc. Lowers Position in Alphatec Holdings, Inc. $ATEC

Key Points

• Polar Asset Management Partners Inc. significantly reduced its holdings in Alphatec, selling 198,526 shares, which represents a 93.5% decrease, leaving them with only 13,718 shares valued at approximately $139,000.
• Several institutional investors have recently increased their stakes in Alphatec, with Nuveen LLC making a significant new investment worth about $135.87 million.
• Alphatec reported a quarterly earnings per share (EPS) of $0.02, beating analysts' expectations, and experienced a 27.5% year-over-year revenue growth to $185.54 million.

Polar Asset Management Partners Inc. trimmed its holdings in Alphatec Holdings, Inc. (NASDAQ:ATEC - Free Report) by 93.5% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 13,718 shares of the medical technology company's stock after selling 198,526 shares during the quarter. Polar Asset Management Partners Inc.'s holdings in Alphatec were worth $139,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors also recently modified their holdings of the company. Wealth Enhancement Advisory Services LLC increased its stake in shares of Alphatec by 301.0% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 59,987 shares of the medical technology company's stock worth $608,000 after acquiring an additional 45,027 shares in the last quarter. GAMMA Investing LLC increased its stake in shares of Alphatec by 38,433.3% in the 1st 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 in the last quarter. SG Americas Securities LLC increased its stake in shares of Alphatec by 28.3% in the 1st quarter. SG Americas Securities LLC now owns 56,927 shares of the medical technology company's stock worth $577,000 after acquiring an additional 12,553 shares in the last quarter. Oppenheimer Asset Management Inc. increased its stake in shares of Alphatec by 13.4% in the 1st quarter. Oppenheimer Asset Management Inc. now owns 13,144 shares of the medical technology company's stock worth $133,000 after acquiring an additional 1,552 shares in the last quarter. Finally, Rhumbline Advisers increased its stake in shares of Alphatec by 6.9% in the 1st quarter. Rhumbline Advisers now owns 148,749 shares of the medical technology company's stock worth $1,508,000 after acquiring an additional 9,661 shares in the last quarter. 66.35% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Alphatec

In other Alphatec news, Director Mortimer Berkowitz III sold 62,500 shares of Alphatec stock in a transaction that occurred on Tuesday, September 9th. The shares were sold at an average price of $15.97, for a total transaction of $998,125.00. Following the transaction, the director owned 618,050 shares of the company's stock, valued at $9,870,258.50. The trade was a 9.18% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Patrick Miles sold 300,000 shares of Alphatec stock in a transaction that occurred on Tuesday, September 2nd. The shares were sold at an average price of $15.73, for a total transaction of $4,719,000.00. Following the transaction, the chief executive officer directly owned 5,564,078 shares in the company, valued at $87,522,946.94. This represents a 5.12% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 546,057 shares of company stock valued at $8,326,072. 20.90% of the stock is currently owned by company insiders.

Alphatec Price Performance

NASDAQ:ATEC traded down $0.48 during trading hours on Friday, hitting $15.15. 521,088 shares of the stock traded hands, compared to its average volume of 2,070,035. The company has a quick ratio of 1.77, a current ratio of 2.88 and a debt-to-equity ratio of 23.22. Alphatec Holdings, Inc. has a 1 year low of $4.88 and a 1 year high of $16.70. The company has a market cap of $2.24 billion, a price-to-earnings ratio of -13.40 and a beta of 1.02. The stock has a 50 day moving average price of $13.76 and a 200 day moving average price of $12.05.

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 for the quarter, beating the consensus estimate of ($0.06) by $0.08. Alphatec had a negative net margin of 24.33% and a negative return on equity of 1,657.19%. The business had revenue of $185.54 million for the quarter, compared to the consensus estimate of $178.85 million. During the same quarter in the previous year, the firm earned ($0.29) earnings per share. The company's revenue for the quarter was up 27.5% on a year-over-year basis. Alphatec has set its FY 2025 guidance at EPS. Sell-side analysts forecast that Alphatec Holdings, Inc. will post -1.08 EPS for the current fiscal year.

Analyst Ratings Changes

A number of research firms have weighed in on ATEC. Canaccord Genuity Group restated a "buy" rating and set a $20.00 price objective on shares of Alphatec in a research note on Friday, August 1st. Wall Street Zen upgraded shares of Alphatec from a "hold" rating to a "buy" rating in a research note on Sunday, September 7th. Lake Street Capital upgraded shares of Alphatec to a "buy" rating and set a $18.00 price objective for the company in a research note on Monday, June 16th. Finally, Barclays restated an "overweight" rating and set a $22.00 price objective (up from $21.00) on shares of Alphatec in a research note on Monday, August 4th. Six equities research analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, the company presently has an average rating of "Buy" and an average 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.