Alphatec Holdings, Inc. $ATEC Shares Sold by Braidwell LP

Braidwell LP reduced its position in Alphatec Holdings, Inc. (NASDAQ:ATEC) by 84.0% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,514,604 shares of the medical technology company’s stock after selling 7,938,568 shares during the quarter. Braidwell LP’s holdings in Alphatec were worth $22,022,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Aster Capital Management DIFC Ltd purchased a new stake in shares of Alphatec during the 3rd quarter valued at $34,000. Osterweis Capital Management Inc. purchased a new position in Alphatec during the 2nd quarter worth $37,000. China Universal Asset Management Co. Ltd. acquired a new position in Alphatec during the 3rd quarter valued at about $73,000. State of Alaska Department of Revenue acquired a new position in Alphatec during the 3rd quarter valued at about $120,000. Finally, State of Wyoming purchased a new stake in Alphatec in the second quarter valued at about $124,000. Hedge funds and other institutional investors own 66.35% of the company’s stock.

Insider Buying and Selling

In other news, CEO Patrick Miles sold 100,000 shares of the company’s stock in a transaction on Monday, January 5th. The shares were sold at an average price of $21.01, for a total value of $2,101,000.00. Following the sale, the chief executive officer directly owned 5,135,398 shares of the company’s stock, valued at $107,894,711.98. This represents a 1.91% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director David R. Pelizzon sold 250,000 shares of the stock in a transaction on Tuesday, December 16th. The stock was sold at an average price of $19.66, for a total transaction of $4,915,000.00. Following the completion of the sale, the director owned 10,395,045 shares in the company, valued at $204,366,584.70. The trade was a 2.35% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 836,337 shares of company stock worth $13,386,642 in the last quarter. 20.90% of the stock is currently owned by corporate insiders.

Alphatec Stock Down 1.8%

Alphatec stock opened at $12.28 on Friday. The business’s 50-day simple moving average is $15.11 and its two-hundred day simple moving average is $16.88. The company has a debt-to-equity ratio of 40.35, a quick ratio of 1.28 and a current ratio of 2.06. The company has a market cap of $1.86 billion, a PE ratio of -12.93 and a beta of 1.02. Alphatec Holdings, Inc. has a fifty-two week low of $8.81 and a fifty-two week high of $23.29.

Alphatec (NASDAQ:ATEC) last announced its quarterly earnings data on Tuesday, February 24th. The medical technology company reported $0.06 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.04 by $0.02. The firm had revenue of $212.93 million during the quarter, compared to analysts’ expectations of $212.67 million. During the same quarter in the previous year, the business earned ($0.23) earnings per share. The company’s revenue for the quarter was up 20.4% compared to the same quarter last year. Equities analysts anticipate that Alphatec Holdings, Inc. will post -1.08 EPS for the current year.

Wall Street Analyst Weigh In

Several brokerages have weighed in on ATEC. Loop Capital set a $25.00 price target on Alphatec in a report on Wednesday, December 10th. Wall Street Zen upgraded shares of Alphatec from a “hold” rating to a “buy” rating in a report on Saturday, January 31st. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Alphatec in a research report on Monday, December 29th. Stifel Nicolaus dropped their target price on shares of Alphatec from $24.00 to $20.00 and set a “buy” rating on the stock in a research report on Monday, March 9th. Finally, Morgan Stanley set a $23.00 price target on shares of Alphatec in a research note on Tuesday, December 2nd. Ten analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, Alphatec currently has a consensus rating of “Moderate Buy” and an average target price of $22.82.

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.