Great Lakes Advisors LLC Acquires Shares of 280,161 Alphatec Holdings, Inc. $ATEC

Key Points

• Great Lakes Advisors purchased 280,161 Alphatec shares worth approximately $2.4 million, joining other institutions that increased their positions. Institutional investors collectively own 66.35% of ATEC.
• Alphatec reported quarterly revenue of $213.5 million, up 15.1% year over year, and earnings per share of $0.07, matching analyst expectations. Analysts forecast a full-year loss of $0.45 per share.
• Wall Street maintains a generally positive view, with 13 Buy ratings and an average price target of $17.40 versus the stock’s reported $9.48 price. However, insiders sold shares under pre-arranged plans to cover tax obligations.

Great Lakes Advisors LLC purchased a new stake in shares of Alphatec Holdings, Inc. (NASDAQ:ATEC - Free Report) in the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor purchased 280,161 shares of the medical technology company's stock, valued at approximately $2,423,000. Great Lakes Advisors LLC owned about 0.18% of Alphatec at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Creative Planning increased its position in Alphatec by 0.9% during the 3rd quarter. Creative Planning now owns 58,654 shares of the medical technology company's stock valued at $853,000 after purchasing an additional 534 shares during the period. Franklin Resources Inc. lifted its holdings in Alphatec by 2.0% in the fourth quarter. Franklin Resources Inc. now owns 64,774 shares of the medical technology company's stock worth $1,363,000 after buying an additional 1,299 shares during the period. Oppenheimer Asset Management Inc. boosted its position in Alphatec by 9.9% during the 4th quarter. Oppenheimer Asset Management Inc. now owns 15,075 shares of the medical technology company's stock valued at $317,000 after acquiring an additional 1,353 shares in the last quarter. Northwestern Mutual Wealth Management Co. grew its holdings in shares of Alphatec by 157.1% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 2,571 shares of the medical technology company's stock worth $54,000 after acquiring an additional 1,571 shares during the period. Finally, ProShare Advisors LLC raised its position in shares of Alphatec by 8.2% in the 4th quarter. ProShare Advisors LLC now owns 21,470 shares of the medical technology company's stock worth $452,000 after acquiring an additional 1,633 shares in the last quarter. 66.35% of the stock is currently owned by institutional investors.

Alphatec Stock Performance

ATEC stock opened at $9.48 on Friday. Alphatec Holdings, Inc. has a 12-month low of $6.82 and a 12-month high of $23.29. The stock's 50 day simple moving average is $9.12 and its 200 day simple moving average is $10.26. The company has a current ratio of 1.89, a quick ratio of 1.07 and a debt-to-equity ratio of 40.35. The stock has a market capitalization of $1.46 billion, a PE ratio of -13.35 and a beta of 0.85.

Alphatec (NASDAQ:ATEC - Get Free Report) last issued its earnings results on Tuesday, August 4th. The medical technology company reported $0.07 earnings per share for the quarter, hitting analysts' consensus estimates of $0.07. Alphatec had a negative return on equity of 6,752.24% and a negative net margin of 13.49%.The business had revenue of $213.51 million during the quarter, compared to analyst estimates of $211.26 million. During the same quarter in the previous year, the firm earned $0.02 EPS. Alphatec's revenue was up 15.1% on a year-over-year basis. As a group, research analysts forecast that Alphatec Holdings, Inc. will post -0.45 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, General Counsel Tyson Eliot Marshall sold 8,168 shares of the company's stock in a transaction on Wednesday, August 5th. The stock was sold at an average price of $9.65, for a total value of $78,821.20. Following the completion of the sale, the general counsel directly owned 630,398 shares in the company, valued at $6,083,340.70. This represents a 1.28% decrease in their position. The transaction 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. Also, Director Karen K. Mcginnis sold 6,050 shares of Alphatec stock in a transaction 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 transaction, the director owned 94,671 shares in the company, valued at $758,314.71. This trade represents a 6.01% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 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. Insiders own 13.48% of the company's stock.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on ATEC. Wells Fargo & Company dropped their price target on Alphatec from $28.00 to $14.00 and set an "overweight" rating on the stock in a research report on Thursday, May 7th. Stephens started coverage on Alphatec in a research report on Thursday, July 23rd. They set an "overweight" rating and a $15.00 price objective for the company. UBS Group boosted their target price on shares of Alphatec from $15.00 to $16.00 and gave the company a "buy" rating in a report on Wednesday, August 5th. Wall Street Zen downgraded shares of Alphatec from a "buy" rating to a "hold" rating in a research report on Sunday, July 12th. Finally, Barclays lowered their price target on shares of Alphatec from $27.00 to $24.00 and set an "overweight" rating for the company in a research report on Thursday, May 7th. Thirteen equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $17.40.

Alphatec Company 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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