Nuveen LLC Acquires New Holdings in Alphatec Holdings, Inc. (NASDAQ:ATEC)

Key Points

• Nuveen LLC acquired a new stake in Alphatec Holdings, buying approximately 13.4 million shares valued at around $135.9 million, representing about 9.17% ownership of the company.
• Analysts maintain a generally positive outlook with multiple firms, including Barclays and Piper Sandler, issuing "overweight" ratings and raising their target prices for Alphatec, indicating confidence in its future performance.
• Alphatec reported quarterly earnings of $0.02 EPS, exceeding estimates, with a revenue increase of 27.5% compared to the prior year, suggesting strong performance in its financial results.

Nuveen LLC acquired a new position in Alphatec Holdings, Inc. (NASDAQ:ATEC - Free Report) in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund acquired 13,399,811 shares of the medical technology company's stock, valued at approximately $135,874,000. Nuveen LLC owned approximately 9.17% of Alphatec as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also bought and sold shares of ATEC. Wealth Enhancement Advisory Services LLC increased its holdings in 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 valued at $608,000 after buying an additional 45,027 shares during the period. GAMMA Investing LLC increased its position in Alphatec by 38,433.3% during the 1st quarter. GAMMA Investing LLC now owns 2,312 shares of the medical technology company's stock worth $228,000 after purchasing an additional 2,306 shares in the last quarter. SG Americas Securities LLC increased its position in Alphatec by 28.3% during the 1st quarter. SG Americas Securities LLC now owns 56,927 shares of the medical technology company's stock worth $577,000 after purchasing an additional 12,553 shares in the last quarter. Oppenheimer Asset Management Inc. increased its position in Alphatec by 13.4% during the 1st quarter. Oppenheimer Asset Management Inc. now owns 13,144 shares of the medical technology company's stock worth $133,000 after purchasing an additional 1,552 shares in the last quarter. Finally, Rhumbline Advisers increased its position in Alphatec by 6.9% during the 1st quarter. Rhumbline Advisers now owns 148,749 shares of the medical technology company's stock worth $1,508,000 after purchasing an additional 9,661 shares in the last quarter. Institutional investors and hedge funds own 66.35% of the company's stock.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on ATEC shares. Lake Street Capital raised shares of Alphatec to a "buy" rating and set a $18.00 target price on the stock in a report on Monday, June 16th. Piper Sandler reaffirmed an "overweight" rating and issued a $15.00 price objective (up from $13.00) on shares of Alphatec in a research note on Friday, May 2nd. Needham & Company LLC reaffirmed a "buy" rating and issued a $16.00 price objective on shares of Alphatec in a research note on Friday, May 2nd. Barclays reaffirmed an "overweight" rating and issued a $22.00 price objective (up from $21.00) on shares of Alphatec in a research note on Monday, August 4th. Finally, Wall Street Zen raised shares of Alphatec from a "hold" rating to a "buy" rating in a research note on Saturday, August 9th. Seven analysts have rated the stock with a buy rating, According to MarketBeat, Alphatec currently has an average rating of "Buy" and a consensus price target of $18.50.

Alphatec Stock Down 1.5%

Shares of Alphatec stock traded down $0.23 during trading on Thursday, reaching $15.57. 1,665,981 shares of the company traded hands, compared to its average volume of 2,078,440. The company has a debt-to-equity ratio of 23.22, a current ratio of 2.88 and a quick ratio of 1.77. Alphatec Holdings, Inc. has a 1-year low of $4.88 and a 1-year high of $16.01. The company has a 50 day moving average price of $11.82 and a 200-day moving average price of $11.37. The firm has a market capitalization of $2.30 billion, a PE ratio of -13.78 and a beta of 1.05.

Alphatec (NASDAQ:ATEC - Get Free Report) last released its earnings results on Thursday, July 31st. The medical technology company reported $0.02 earnings per share (EPS) for the quarter, beating analysts' consensus estimates 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 company 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 company earned ($0.29) EPS. Alphatec's quarterly revenue was up 27.5% compared to the same quarter last year. As a group, equities research analysts expect that Alphatec Holdings, Inc. will post -1.08 earnings per share for the current fiscal year.

Insider Activity at Alphatec

In other Alphatec news, COO Scott Lish sold 55,375 shares of the company's stock in a transaction on Monday, May 19th. The shares were sold at an average price of $13.00, for a total transaction of $719,875.00. Following the transaction, the chief operating officer owned 771,645 shares in the company, valued at approximately $10,031,385. This represents a 6.70% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, EVP Craig E. Hunsaker sold 186,122 shares of the company's stock in a transaction on Wednesday, June 4th. The stock was sold at an average price of $12.34, for a total transaction of $2,296,745.48. Following the transaction, the executive vice president owned 1,463,896 shares in the company, valued at approximately $18,064,476.64. The trade was a 11.28% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 449,997 shares of company stock worth $5,846,616 in the last quarter. Company insiders own 20.90% of the company's stock.

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.