Paradigm Capital Management Inc. NY acquired a new position in Alphatec Holdings, Inc. (NASDAQ:ATEC - Free Report) in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 1,088,200 shares of the medical technology company's stock, valued at approximately $9,413,000. Paradigm Capital Management Inc. NY owned 0.70% of Alphatec as of its most recent SEC filing.
Other large investors have also recently bought and sold shares of the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in shares of Alphatec by 4.5% in 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 acquiring an additional 3,196 shares in the last quarter. Dynamic Technology Lab Private Ltd acquired a new position in shares of Alphatec during the first quarter valued at approximately $257,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its stake in shares of Alphatec by 18.4% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 265,907 shares of the medical technology company's stock valued at $2,696,000 after acquiring an additional 41,264 shares during the period. Quantbot Technologies LP bought a new stake in Alphatec during the second quarter worth approximately $242,000. Finally, Invesco Ltd. raised its holdings in Alphatec by 455.0% during the second quarter. Invesco Ltd. now owns 282,212 shares of the medical technology company's stock worth $3,133,000 after purchasing an additional 231,367 shares in the last quarter. Institutional investors and hedge funds own 66.35% of the company's stock.
Wall Street Analyst Weigh In
A number of brokerages have issued reports on ATEC. TD Cowen increased their price target on Alphatec from $11.00 to $13.00 and gave the company a "buy" rating in a research note on Wednesday, August 5th. Needham & Company LLC dropped their price objective on Alphatec from $25.00 to $14.00 and set a "buy" rating on the stock in a research note on Wednesday, May 6th. Canaccord Genuity Group cut their price objective on Alphatec from $25.00 to $23.00 and set a "buy" rating for the company in a report on Wednesday, May 6th. Stephens started coverage on Alphatec in a research note on Thursday, July 23rd. They set an "overweight" rating and a $15.00 target price for the company. Finally, Stifel Nicolaus lowered their target price on Alphatec from $16.00 to $13.00 and set a "buy" rating on the stock in a report on Wednesday, July 8th. Thirteen equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, Alphatec presently has an average rating of "Moderate Buy" and an average target price of $17.40.
Get Our Latest Stock Analysis on Alphatec
Alphatec Trading Down 2.5%
Alphatec stock opened at $9.24 on Tuesday. The company has a debt-to-equity ratio of 40.35, a quick ratio of 1.07 and a current ratio of 1.89. The firm has a market cap of $1.43 billion, a price-to-earnings ratio of -13.01 and a beta of 0.85. Alphatec Holdings, Inc. has a 1 year low of $6.82 and a 1 year high of $23.29. The firm's 50 day moving average price is $9.14 and its two-hundred day moving average price is $10.19.
Alphatec (NASDAQ:ATEC - Get Free Report) last announced its quarterly earnings data on Tuesday, August 4th. The medical technology company reported $0.07 EPS for the quarter, meeting analysts' consensus estimates of $0.07. The company had revenue of $213.51 million during the quarter, compared to the consensus estimate of $211.26 million. Alphatec had a negative return on equity of 6,752.24% and a negative net margin of 13.49%.The company's quarterly revenue was up 15.1% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.02 EPS. On average, research analysts predict that Alphatec Holdings, Inc. will post -0.45 EPS for the current fiscal year.
Insiders Place Their Bets
In other news, Director Karen K. Mcginnis sold 6,050 shares of the business's stock in a transaction on Thursday, June 11th. The stock was sold at an average price of $8.01, for a total transaction of $48,460.50. Following the sale, the director directly owned 94,671 shares of the company's stock, valued at $758,314.71. The trade was a 6.01% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, 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, General Counsel Tyson Eliot Marshall sold 8,168 shares of the company's stock in a transaction on Wednesday, August 5th. The shares were sold at an average price of $9.65, for a total value of $78,821.20. Following the sale, the general counsel directly owned 630,398 shares of the company's stock, valued at approximately $6,083,340.70. This represents a 1.28% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 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. 13.48% of the stock is owned by insiders.
Alphatec Profile
(
Free Report)
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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