Walleye Capital LLC Buys 172,957 Shares of Alphatec Holdings, Inc. $ATEC

Key Points

• Walleye Capital LLC increased its stake in Alphatec Holdings by 17.0%, acquiring an additional 172,957 shares, bringing its total ownership to approximately $12.06 million.
• Several institutional investors have significantly boosted their holdings in Alphatec, with Nuveen LLC purchasing a new stake valued at about $135.87 million.
• Alphatec recently reported a quarterly earnings per share (EPS) of $0.02, beating estimates and showing a revenue increase of 27.5% year-over-year.

Walleye Capital LLC boosted its stake in Alphatec Holdings, Inc. (NASDAQ:ATEC - Free Report) by 17.0% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,189,466 shares of the medical technology company's stock after purchasing an additional 172,957 shares during the quarter. Walleye Capital LLC owned about 0.81% of Alphatec worth $12,061,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in ATEC. Nuveen LLC bought a new stake in Alphatec in the first quarter valued at about $135,874,000. Royal Bank of Canada increased its holdings in shares of Alphatec by 171.2% in the fourth quarter. Royal Bank of Canada now owns 3,185,283 shares of the medical technology company's stock worth $29,240,000 after acquiring an additional 2,010,806 shares in the last quarter. Nuveen Asset Management LLC increased its holdings in shares of Alphatec by 78.4% in the fourth quarter. Nuveen Asset Management LLC now owns 2,584,996 shares of the medical technology company's stock worth $23,730,000 after acquiring an additional 1,136,330 shares in the last quarter. Motley Fool Wealth Management LLC bought a new stake in shares of Alphatec in the first quarter worth about $9,070,000. Finally, American Century Companies Inc. increased its holdings in shares of Alphatec by 16.9% in the first quarter. American Century Companies Inc. now owns 5,830,031 shares of the medical technology company's stock worth $59,117,000 after acquiring an additional 840,974 shares in the last quarter. Institutional investors own 66.35% of the company's stock.

Insider Activity at Alphatec

In related news, General Counsel Tyson Eliot Marshall sold 18,092 shares of the stock in a transaction that occurred on Tuesday, August 5th. The stock was 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 of the company's stock, valued at approximately $6,535,515.21. This represents a 3.96% 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 Craig E. Hunsaker sold 186,122 shares of the stock in a transaction that occurred on Wednesday, June 4th. The shares were sold at an average price of $12.34, for a total value of $2,296,745.48. Following the transaction, the executive vice president directly owned 1,463,896 shares of the company's stock, valued at $18,064,476.64. This trade represents a 11.28% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 410,247 shares of company stock valued at $5,376,804. Insiders own 22.80% of the company's stock.

Analyst Ratings Changes

A number of research analysts recently issued reports on the company. Needham & Company LLC reiterated a "buy" rating and set a $16.00 price objective on shares of Alphatec in a report on Friday, May 2nd. Barclays reiterated an "overweight" rating and set a $22.00 price objective (up from $21.00) on shares of Alphatec in a report on Monday, August 4th. Wall Street Zen upgraded Alphatec from a "hold" rating to a "buy" rating in a report on Saturday, August 9th. Piper Sandler reiterated an "overweight" rating and set a $15.00 price objective (up from $13.00) on shares of Alphatec in a report on Friday, May 2nd. Finally, Canaccord Genuity Group reiterated a "buy" rating and set a $20.00 price objective on shares of Alphatec in a report on Friday, August 1st. Six analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, Alphatec currently has a consensus rating of "Buy" and an average price target of $18.50.

Alphatec Stock Performance

Shares of NASDAQ ATEC opened at $16.14 on Monday. The stock has a 50 day moving average price of $12.37 and a 200 day moving average price of $11.57. Alphatec Holdings, Inc. has a 52 week low of $4.88 and a 52 week high of $16.47. The company has a debt-to-equity ratio of 23.22, a quick ratio of 1.77 and a current ratio of 2.88. The stock has a market capitalization of $2.39 billion, a PE ratio of -14.28 and a beta of 1.05.

Alphatec (NASDAQ:ATEC - Get Free Report) last issued its quarterly earnings results on Thursday, July 31st. The medical technology company reported $0.02 EPS for the quarter, beating the consensus estimate of ($0.06) by $0.08. Alphatec had a negative return on equity of 1,657.19% and a negative net margin of 24.33%.The firm had revenue of $185.54 million during the quarter, compared to analysts' expectations of $178.85 million. During the same period in the prior year, the firm posted ($0.29) earnings per share. The business's quarterly revenue was up 27.5% compared to the same quarter last year. Alphatec has set its FY 2025 guidance at EPS. Analysts predict that Alphatec Holdings, Inc. will post -1.08 earnings per share for the current fiscal year.

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.

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