PDT Partners LLC Purchases Shares of 112,072 Alphatec Holdings, Inc. $ATEC

Key Points

• PDT Partners LLC acquired a new stake in Alphatec Holdings, purchasing 112,072 shares valued at approximately $1,136,000 during the first quarter of the year.
• In the first quarter, several other institutional investors also significantly increased their stakes in Alphatec, with Wealth Enhancement Advisory Services expanding their holdings by 301.0%.
• Alphatec's stock has received mixed analyst ratings, with a recent downgrade from a "buy" to a "hold" by Wall Street Zen, while Lake Street Capital upgraded it to a "buy" with an $18.00 price target.

PDT Partners LLC purchased a new position in Alphatec Holdings, Inc. (NASDAQ:ATEC - Free Report) during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 112,072 shares of the medical technology company's stock, valued at approximately $1,136,000. PDT Partners LLC owned about 0.08% of Alphatec as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently added to or reduced their stakes in the business. GAMMA Investing LLC grew 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. Comerica Bank grew its position in Alphatec by 66.8% in the fourth quarter. Comerica Bank now owns 3,116 shares of the medical technology company's stock valued at $29,000 after acquiring an additional 1,248 shares during the period. Larson Financial Group LLC acquired a new stake in shares of Alphatec during the first quarter worth approximately $54,000. Lazard Asset Management LLC acquired a new stake in shares of Alphatec during the fourth quarter worth approximately $76,000. Finally, State of Wyoming bought a new stake in shares of Alphatec during the fourth quarter valued at approximately $86,000. Institutional investors and hedge funds own 66.35% of the company's stock.

Analysts Set New Price Targets

ATEC has been the topic of a number of recent analyst reports. Canaccord Genuity Group reissued a "buy" rating and set a $20.00 price target on shares of Alphatec in a research report on Friday, August 1st. Lake Street Capital raised shares of Alphatec to a "buy" rating and set a $18.00 price target on the stock in a research report on Monday, June 16th. Wall Street Zen raised shares of Alphatec from a "hold" rating to a "buy" rating in a research report on Sunday. Finally, Barclays reissued an "overweight" rating and set a $22.00 price target (up from $21.00) on shares of Alphatec in a research report on Monday, August 4th. Six equities research analysts have rated the stock with a Buy rating, According to MarketBeat.com, the company has an average rating of "Buy" and a consensus price target of $18.50.

Insider Buying and Selling at Alphatec

In related news, General Counsel Tyson Eliot Marshall sold 18,092 shares of the company's stock in a transaction that occurred on Tuesday, August 5th. The shares were sold at an average price of $14.91, for a total transaction of $269,751.72. Following the completion of the transaction, the general counsel directly owned 438,331 shares in the company, valued at $6,535,515.21. This represents a 3.96% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, COO Scott Lish sold 6,323 shares of the company's stock in a transaction that occurred on Thursday, August 21st. The stock was sold at an average price of $16.01, for a total transaction of $101,231.23. Following the transaction, the chief operating officer owned 658,707 shares of the company's stock, valued at approximately $10,545,899.07. This represents a 0.95% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 510,247 shares of company stock worth $7,627,527. 22.80% of the stock is currently owned by company insiders.

Alphatec Stock Down 2.1%

Shares of NASDAQ:ATEC traded down $0.35 during midday trading on Tuesday, reaching $16.00. 439,390 shares of the company were exchanged, compared to its average volume of 2,064,555. The stock has a fifty day simple moving average of $13.48 and a two-hundred day simple moving average of $11.97. Alphatec Holdings, Inc. has a fifty-two week low of $4.88 and a fifty-two week high of $16.70. The firm has a market cap of $2.37 billion, a PE ratio of -14.15 and a beta of 1.02. 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 (NASDAQ:ATEC - Get Free Report) last announced its quarterly earnings data on Thursday, July 31st. The medical technology company reported $0.02 EPS for the quarter, beating analysts' consensus estimates of ($0.06) by $0.08. The company had revenue of $185.54 million during the quarter, compared to the consensus estimate of $178.85 million. Alphatec had a negative net margin of 24.33% and a negative return on equity of 1,657.19%. The company's quarterly revenue was up 27.5% on a year-over-year basis. During the same quarter last year, the firm posted ($0.29) EPS. Alphatec has set its FY 2025 guidance at EPS. As a group, sell-side analysts forecast that Alphatec Holdings, Inc. will post -1.08 earnings per share for the current year.

Alphatec 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.