Soviero Asset Management LP Takes Position in Alphatec Holdings, Inc. (NASDAQ:ATEC)

Soviero Asset Management LP acquired a new position in Alphatec Holdings, Inc. (NASDAQ:ATEC - Free Report) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 100,000 shares of the medical technology company's stock, valued at approximately $918,000. Soviero Asset Management LP owned approximately 0.07% of Alphatec as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds also recently bought and sold shares of the company. Comerica Bank boosted its stake in Alphatec by 66.8% in the fourth quarter. Comerica Bank now owns 3,116 shares of the medical technology company's stock worth $29,000 after purchasing an additional 1,248 shares in the last quarter. R Squared Ltd acquired a new position in shares of Alphatec during the fourth quarter valued at $29,000. Nisa Investment Advisors LLC lifted its stake in shares of Alphatec by 973.3% during the fourth quarter. Nisa Investment Advisors LLC now owns 4,669 shares of the medical technology company's stock valued at $43,000 after acquiring an additional 4,234 shares during the period. Quarry LP lifted its stake in shares of Alphatec by 79.2% during the fourth quarter. Quarry LP now owns 5,374 shares of the medical technology company's stock valued at $49,000 after acquiring an additional 2,375 shares during the period. Finally, Newton One Investments LLC acquired a new position in shares of Alphatec during the fourth quarter valued at $50,000. Institutional investors and hedge funds own 66.35% of the company's stock.

Insiders Place Their Bets

In related news, CEO Patrick Miles sold 32,393 shares of the stock in a transaction that occurred on Wednesday, February 26th. The stock was sold at an average price of $10.89, for a total transaction of $352,759.77. Following the completion of the transaction, the chief executive officer now directly owns 5,940,391 shares of the company's stock, valued at approximately $64,690,857.99. This represents a 0.54% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP David Sponsel sold 12,946 shares of the stock in a transaction that occurred on Monday, February 24th. The shares were sold at an average price of $10.73, for a total value of $138,910.58. Following the transaction, the executive vice president now directly owns 722,128 shares of the company's stock, valued at $7,748,433.44. This trade represents a 1.76% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 182,320 shares of company stock worth $2,136,227 over the last ninety days. 22.80% of the stock is currently owned by corporate insiders.

Alphatec Trading Down 0.2%

NASDAQ ATEC traded down $0.03 on Friday, reaching $12.45. The company had a trading volume of 1,300,728 shares, compared to its average volume of 2,038,973. The stock's 50 day moving average is $11.06 and its 200-day moving average is $10.53. The stock has a market cap of $1.82 billion, a price-to-earnings ratio of -9.73 and a beta of 1.06. The company has a quick ratio of 1.15, a current ratio of 2.32 and a debt-to-equity ratio of 30.21. Alphatec Holdings, Inc. has a 52 week low of $4.88 and a 52 week high of $13.14.

Alphatec (NASDAQ:ATEC - Get Free Report) last released its quarterly earnings data on Thursday, May 1st. The medical technology company reported ($0.35) EPS for the quarter, missing analysts' consensus estimates of ($0.12) by ($0.23). The company had revenue of $169.18 million during the quarter, compared to the consensus estimate of $167.57 million. Alphatec had a negative net margin of 31.06% and a negative return on equity of 541.39%. The company's revenue for the quarter was up 22.2% compared to the same quarter last year. During the same quarter in the prior year, the company posted ($0.34) EPS. Equities analysts predict that Alphatec Holdings, Inc. will post -1.08 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on ATEC. Needham & Company LLC reaffirmed a "buy" rating and set a $16.00 price target on shares of Alphatec in a research note on Friday, May 2nd. HC Wainwright reaffirmed a "buy" rating and set a $20.00 price target on shares of Alphatec in a research note on Monday, April 14th. Wall Street Zen raised Alphatec from a "sell" rating to a "hold" rating in a research note on Friday, February 28th. Finally, Piper Sandler reaffirmed an "overweight" rating and set a $15.00 price target (up previously from $13.00) on shares of Alphatec in a research note on Friday, May 2nd. Two equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company's stock. Based on data from MarketBeat.com, Alphatec has a consensus rating of "Moderate Buy" and a consensus price target of $17.89.

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.