Corton Capital Inc. Boosts Stock Position in Alphatec Holdings, Inc. $ATEC

Corton Capital Inc. lifted its holdings in shares of Alphatec Holdings, Inc. (NASDAQ:ATEC) by 36.3% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 19,157 shares of the medical technology company’s stock after buying an additional 5,097 shares during the quarter. Corton Capital Inc.’s holdings in Alphatec were worth $213,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in ATEC. Larson Financial Group LLC purchased a new stake in Alphatec in the 1st quarter worth $54,000. Nisa Investment Advisors LLC grew its position in shares of Alphatec by 22.4% in the second quarter. Nisa Investment Advisors LLC now owns 5,714 shares of the medical technology company’s stock valued at $63,000 after purchasing an additional 1,045 shares during the period. FORA Capital LLC purchased a new stake in shares of Alphatec during the first quarter worth about $102,000. PKS Advisory Services LLC purchased a new stake in shares of Alphatec during the first quarter worth about $111,000. Finally, R Squared Ltd acquired a new position in shares of Alphatec during the 2nd quarter worth about $114,000. Hedge funds and other institutional investors own 66.35% of the company’s stock.

Alphatec Stock Performance

Shares of Alphatec stock opened at $19.42 on Wednesday. The business’s 50 day moving average price is $15.41 and its 200 day moving average price is $13.41. The company has a market cap of $2.88 billion, a price-to-earnings ratio of -17.19 and a beta of 1.17. The company has a debt-to-equity ratio of 23.22, a quick ratio of 1.77 and a current ratio of 2.88. Alphatec Holdings, Inc. has a one year low of $7.87 and a one year high of $20.15.

Alphatec (NASDAQ:ATEC) last issued its earnings results on Thursday, October 30th. The medical technology company reported $0.03 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.06) by $0.09. The company had revenue of $196.50 million during the quarter, compared to analysts’ expectations of $182.78 million. During the same quarter in the previous year, the company earned ($0.28) earnings per share. The firm’s quarterly revenue was up 30.4% compared to the same quarter last year. Alphatec has set its FY 2025 guidance at EPS. On average, research analysts predict that Alphatec Holdings, Inc. will post -1.08 EPS for the current year.

Analyst Ratings Changes

Several research firms recently issued reports on ATEC. Needham & Company LLC lifted their price objective on Alphatec from $16.00 to $22.00 and gave the stock a “buy” rating in a report on Friday, October 31st. Stifel Nicolaus initiated coverage on Alphatec in a research note on Tuesday, October 28th. They issued a “buy” rating and a $20.00 price target on the stock. JPMorgan Chase & Co. initiated coverage on Alphatec in a research report on Friday, October 24th. They set an “overweight” rating and a $19.00 price target for the company. Lake Street Capital set a $25.00 price objective on Alphatec and gave the company a “buy” rating in a report on Friday. Finally, Piper Sandler reaffirmed an “overweight” rating and set a $25.00 target price (up previously from $20.00) on shares of Alphatec in a report on Friday. Nine investment analysts have rated the stock with a Buy rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $22.11.

Insider Activity

In other news, CEO Patrick Miles sold 100,000 shares of the stock in a transaction that occurred on Wednesday, October 1st. The shares were sold at an average price of $13.96, for a total value of $1,396,000.00. Following the completion of the sale, the chief executive officer owned 5,464,078 shares of the company’s stock, valued at $76,278,528.88. This represents a 1.80% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, EVP Craig E. Hunsaker sold 100,000 shares of the firm’s stock in a transaction that occurred on Friday, October 31st. The stock was sold at an average price of $19.95, for a total transaction of $1,995,000.00. Following the sale, the executive vice president owned 1,289,142 shares of the company’s stock, valued at $25,718,382.90. This represents a 7.20% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 788,125 shares of company stock valued at $12,604,027 in the last quarter. Insiders own 22.80% of the company’s stock.

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.