Walleye Capital LLC Boosts Stake in 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 grew its stake in Alphatec Holdings, Inc. (NASDAQ:ATEC - Free Report) by 17.0% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,189,466 shares of the medical technology company's stock after acquiring an additional 172,957 shares during the period. Walleye Capital LLC owned 0.81% of Alphatec worth $12,061,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in the stock. Lido Advisors LLC grew its stake in Alphatec by 8.4% in the 4th quarter. Lido Advisors LLC now owns 12,247 shares of the medical technology company's stock worth $112,000 after acquiring an additional 953 shares in the last quarter. Comerica Bank grew its stake in Alphatec by 66.8% in the 4th quarter. Comerica Bank now owns 3,116 shares of the medical technology company's stock worth $29,000 after acquiring an additional 1,248 shares in the last quarter. Oppenheimer Asset Management Inc. boosted its stake in shares of Alphatec by 13.4% during the first quarter. Oppenheimer Asset Management Inc. now owns 13,144 shares of the medical technology company's stock valued at $133,000 after purchasing an additional 1,552 shares in the last quarter. Mercer Global Advisors Inc. ADV boosted its stake in shares of Alphatec by 0.6% during the fourth quarter. Mercer Global Advisors Inc. ADV now owns 288,967 shares of the medical technology company's stock valued at $2,653,000 after purchasing an additional 1,784 shares in the last quarter. Finally, Mitsubishi UFJ Asset Management Co. Ltd. boosted its stake in shares of Alphatec by 4.6% during the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 40,734 shares of the medical technology company's stock valued at $413,000 after purchasing an additional 1,792 shares in the last quarter. 66.35% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on the stock. Piper Sandler reiterated an "overweight" rating and set a $15.00 price objective (up from $13.00) on shares of Alphatec in a research note on Friday, May 2nd. Lake Street Capital upgraded shares of Alphatec to a "buy" rating and set a $18.00 price objective on the stock in a research note on Monday, June 16th. Wall Street Zen downgraded shares of Alphatec from a "buy" rating to a "hold" rating in a research note on Saturday. Canaccord Genuity Group reiterated a "buy" rating and set a $20.00 price objective on shares of Alphatec in a research note on Friday, August 1st. Finally, Barclays reiterated an "overweight" rating and set a $22.00 price objective (up from $21.00) on shares of Alphatec in a research note on Monday, August 4th. Six investment analysts have rated the stock with a Buy rating, According to data from MarketBeat, the company presently has an average rating of "Buy" and a consensus price target of $18.50.

Insider Activity at Alphatec

In other Alphatec news, General Counsel Tyson Eliot Marshall sold 18,092 shares of the firm's stock in a transaction on Tuesday, August 5th. The shares were sold at an average price of $14.91, for a total value of $269,751.72. Following the completion of the transaction, the general counsel owned 438,331 shares of the company's stock, valued at approximately $6,535,515.21. This trade represents a 3.96% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, COO Scott Lish sold 6,323 shares of the firm's stock in a transaction 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 completion of the transaction, the chief operating officer directly owned 658,707 shares of the company's stock, valued at approximately $10,545,899.07. This represents a 0.95% decrease in their position. The disclosure for this sale can be found here. Insiders sold 410,247 shares of company stock valued at $5,376,804 over the last 90 days. Insiders own 20.90% of the company's stock.

Alphatec Stock Down 0.8%

NASDAQ:ATEC traded down $0.13 during midday trading on Friday, reaching $15.90. 1,651,222 shares of the stock traded hands, compared to its average volume of 3,265,962. Alphatec Holdings, Inc. has a 12-month low of $4.88 and a 12-month high of $16.47. The business has a 50-day moving average of $12.88 and a two-hundred day moving average of $11.74. 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 $2.35 billion, a PE ratio of -14.07 and a beta of 1.05.

Alphatec (NASDAQ:ATEC - Get Free Report) last posted its earnings results 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. Alphatec had a negative net margin of 24.33% and a negative return on equity of 1,657.19%. The company had revenue of $185.54 million during the quarter, compared to analysts' expectations of $178.85 million. During the same quarter in the prior year, the company posted ($0.29) earnings per share. Alphatec's revenue for the quarter was up 27.5% compared to the same quarter last year. Alphatec has set its FY 2025 guidance at EPS. On average, equities analysts forecast that Alphatec Holdings, Inc. will post -1.08 earnings per share for the current fiscal 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.