Squarepoint Ops LLC Cuts Stock Holdings in Alphatec Holdings, Inc. $ATEC

Key Points

• Squarepoint Ops LLC reduced its Alphatec stake by 46.2% in the second quarter, selling 280,570 shares and retaining 326,548 shares valued at approximately $2.83 million. Hedge funds and other institutional investors collectively own 66.35% of ATEC.
• Alphatec reported quarterly revenue of $213.5 million, up 15.1% year over year, while earnings of $0.07 per share matched analyst expectations. The company remains unprofitable, with analysts forecasting a full-year loss of $0.45 per share.
• Analyst sentiment is broadly positive, with a consensus “Moderate Buy” rating and an average price target of $17.40 versus a recent price of $10.58. CEO Patrick Miles also purchased 115,000 shares, while General Counsel Tyson Marshall sold shares to cover tax obligations.

Squarepoint Ops LLC lowered its position in shares of Alphatec Holdings, Inc. (NASDAQ:ATEC - Free Report) by 46.2% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 326,548 shares of the medical technology company's stock after selling 280,570 shares during the period. Squarepoint Ops LLC owned approximately 0.21% of Alphatec worth $2,825,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently added to or reduced their stakes in ATEC. Creative Planning increased its holdings in shares of Alphatec by 0.9% in the 3rd quarter. Creative Planning now owns 58,654 shares of the medical technology company's stock worth $853,000 after purchasing an additional 534 shares in the last quarter. Great Lakes Advisors LLC lifted its stake in Alphatec by 0.4% during the 4th quarter. Great Lakes Advisors LLC now owns 278,717 shares of the medical technology company's stock valued at $5,864,000 after acquiring an additional 1,226 shares during the period. Franklin Resources Inc. boosted its holdings in shares of Alphatec by 2.0% during the 4th quarter. Franklin Resources Inc. now owns 64,774 shares of the medical technology company's stock valued at $1,363,000 after acquiring an additional 1,299 shares during the last quarter. Northwestern Mutual Wealth Management Co. boosted 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 valued at $54,000 after acquiring an additional 1,571 shares during the last quarter. Finally, ProShare Advisors LLC grew its stake in shares of Alphatec by 8.2% in the fourth 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 during the period. 66.35% of the stock is currently owned by hedge funds and other institutional investors.

Alphatec Stock Performance

ATEC opened at $10.58 on Monday. 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 company has a market cap of $1.63 billion, a price-to-earnings ratio of -14.90 and a beta of 0.85. The company's 50 day moving average is $9.30 and its 200 day moving average is $9.79. Alphatec Holdings, Inc. has a 12-month low of $6.82 and a 12-month high of $23.29.

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

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on the stock. Stephens assumed coverage on shares of Alphatec in a report on Thursday, July 23rd. They set an "overweight" rating and a $15.00 price objective for the company. Weiss Ratings restated a "sell (d-)" rating on shares of Alphatec in a report on Monday, August 3rd. TD Cowen lifted their target price on shares of Alphatec from $11.00 to $13.00 and gave the stock a "buy" rating in a research report on Wednesday, August 5th. 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 research note on Wednesday, August 5th. Finally, Wall Street Zen downgraded Alphatec from a "buy" rating to a "hold" rating in a research note on Sunday, July 12th. Thirteen investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $17.40.

Insiders Place Their Bets

In other Alphatec news, General Counsel Tyson Marshall sold 8,168 shares of the business's stock in a transaction dated Wednesday, August 5th. The stock was sold at an average price of $9.65, for a total transaction of $78,821.20. Following the completion of the sale, the general counsel owned 630,398 shares of the company's stock, valued at approximately $6,083,340.70. The trade was a 1.28% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. 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, CEO Patrick Miles acquired 115,000 shares of the firm's stock in a transaction dated Thursday, September 10th. The stock was bought at an average cost of $8.81 per share, for a total transaction of $1,013,150.00. Following the purchase, the chief executive officer directly owned 5,893,551 shares of the company's stock, valued at approximately $51,922,184.31. This trade represents a 1.99% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Insiders own 13.48% of the company's stock.

Alphatec Company Profile

Alphatec Holdings, Inc NASDAQ: ATEC is a medical technology company focused on improving the surgical treatment of spinal disorders. The company develops and commercializes products designed to support spine surgery, including implants, biologics, surgical instruments and related technologies.

Its portfolio is intended for procedures addressing conditions such as spinal deformities, degenerative disc disease and other disorders affecting the spine. Alphatec emphasizes surgeon-focused solutions and integrated technologies that support preoperative planning, intraoperative decision-making and the placement of spinal implants.

Headquartered in Carlsbad, California, Alphatec serves hospitals, surgeons and other healthcare providers in the United States and select international markets.

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