Great Lakes Advisors LLC Takes $2.42 Million Position in Alphatec Holdings, Inc. $ATEC

Great Lakes Advisors LLC bought a new position in Alphatec Holdings, Inc. (NASDAQ:ATEC) during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund bought 280,161 shares of the medical technology company’s stock, valued at approximately $2,423,000.

Other hedge funds also recently made changes to their positions in the company. Bank of New York Mellon Corp purchased a new position in shares of Alphatec in the second quarter valued at $3,092,000. Handelsbanken Fonder AB bought a new position in shares of Alphatec in the 2nd quarter valued at about $427,000. Redhawk Wealth Advisors Inc. grew its position in Alphatec by 87.8% in the second quarter. Redhawk Wealth Advisors Inc. now owns 19,412 shares of the medical technology company’s stock worth $168,000 after acquiring an additional 9,077 shares in the last quarter. Atlas Brown Inc. purchased a new position in Alphatec in the second quarter worth about $111,000. Finally, Valeo Financial Advisors LLC increased its stake in Alphatec by 7.2% during the second quarter. Valeo Financial Advisors LLC now owns 44,363 shares of the medical technology company’s stock worth $384,000 after acquiring an additional 2,967 shares during the last quarter. 66.35% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other Alphatec news, Director Karen K. Mcginnis sold 6,050 shares of the company’s stock in a transaction dated Thursday, June 11th. The shares were sold at an average price of $8.01, for a total value of $48,460.50. Following the transaction, the director directly owned 94,671 shares in the company, valued at $758,314.71. This represents a 6.01% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 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, General Counsel Tyson Eliot Marshall sold 8,168 shares of the firm’s stock in a transaction that occurred on Wednesday, August 5th. The stock was sold at an average price of $9.65, for a total transaction of $78,821.20. Following the transaction, the general counsel directly owned 630,398 shares in the company, valued at approximately $6,083,340.70. This trade represents a 1.28% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 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. 13.48% of the stock is owned by insiders.

Alphatec Price Performance

ATEC opened at $9.48 on Friday. The business has a fifty day moving average of $9.12 and a 200 day moving average of $10.26. The stock has a market cap of $1.46 billion, a P/E ratio of -13.35 and a beta of 0.85. The company has a quick ratio of 1.07, a current ratio of 1.89 and a debt-to-equity ratio of 40.35. Alphatec Holdings, Inc. has a 52-week low of $6.82 and a 52-week high of $23.29.

Alphatec (NASDAQ:ATEC) last issued its earnings results on Tuesday, August 4th. The medical technology company reported $0.07 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.07. The firm had revenue of $213.51 million during the quarter, compared to analyst estimates of $211.26 million. Alphatec had a negative net margin of 13.49% and a negative return on equity of 6,752.24%. The business’s revenue was up 15.1% on a year-over-year basis. During the same period in the previous year, the firm earned $0.02 earnings per share. As a group, sell-side analysts anticipate that Alphatec Holdings, Inc. will post -0.45 EPS for the current year.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on the company. Barclays lowered their price objective on Alphatec from $27.00 to $24.00 and set an “overweight” rating for the company in a research note on Thursday, May 7th. HC Wainwright restated a “buy” rating and set a $24.00 price target on shares of Alphatec in a report on Thursday, May 7th. Canaccord Genuity Group lowered their price target on Alphatec from $25.00 to $23.00 and set a “buy” rating for the company in a research report on Wednesday, May 6th. TD Cowen lifted their price objective on shares of Alphatec from $11.00 to $13.00 and gave the stock a “buy” rating in a research note on Wednesday, August 5th. Finally, Lake Street Capital reiterated a “buy” rating and set a $15.00 price objective on shares of Alphatec in a research report on Wednesday, May 6th. Thirteen research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $17.40.

Alphatec Profile

Alphatec Holdings, Inc (NASDAQ: ATEC) is a medical technology company focused on the design, development and commercialization of products for the surgical correction of degenerative spinal conditions. The company’s portfolio centers on interbody implants, biologics, fixation devices and surgical planning tools intended to improve patient outcomes in spinal fusion procedures. Alphatec’s flagship offerings include customizable interbody cages, bone graft materials and specialized instrumentation designed for minimally invasive and open spinal surgeries.

Founded as Alphatec Spine in 1985 and rebranded as Alphatec Holdings in 2018, the company has grown from a single-product organization into a multi-platform innovator in the spine market.