FirstWave Capital Management LLC Invests $1.24 Million in Alphatec Holdings, Inc. $ATEC

FirstWave Capital Management LLC bought a new stake in shares of Alphatec Holdings, Inc. (NASDAQ:ATEC) in the 2nd quarter, HoldingsChannel.com reports. The firm bought 143,851 shares of the medical technology company’s stock, valued at approximately $1,244,000.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Vanguard Group Inc. raised its holdings in Alphatec by 1.0% during the 4th quarter. Vanguard Group Inc. now owns 6,883,626 shares of the medical technology company’s stock worth $144,831,000 after buying an additional 68,568 shares during the period. Morgan Stanley boosted its holdings in shares of Alphatec by 22.0% in the fourth quarter. Morgan Stanley now owns 4,340,936 shares of the medical technology company’s stock worth $91,333,000 after buying an additional 784,191 shares during the period. State Street Corp increased its position in shares of Alphatec by 6.4% in the fourth quarter. State Street Corp now owns 2,889,240 shares of the medical technology company’s stock worth $60,790,000 after acquiring an additional 174,287 shares in the last quarter. Geode Capital Management LLC raised its holdings in shares of Alphatec by 1.2% during the fourth quarter. Geode Capital Management LLC now owns 2,828,026 shares of the medical technology company’s stock valued at $59,511,000 after acquiring an additional 32,465 shares during the period. Finally, Bank of America Corp DE raised its holdings in shares of Alphatec by 26.9% during the first quarter. Bank of America Corp DE now owns 2,560,971 shares of the medical technology company’s stock valued at $27,863,000 after acquiring an additional 543,059 shares during the period. Institutional investors and hedge funds own 66.35% of the company’s stock.

Alphatec Stock Up 1.3%

ATEC stock opened at $9.45 on Friday. The company has a 50 day moving average of $9.26 and a two-hundred day moving average of $9.95. The company has a market cap of $1.46 billion, a price-to-earnings ratio of -13.31 and a beta of 0.85. Alphatec Holdings, Inc. has a 12-month low of $6.82 and a 12-month high of $23.29. 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 (NASDAQ:ATEC) last posted its quarterly earnings results on Tuesday, August 4th. The medical technology company reported $0.07 EPS for the quarter, meeting the consensus estimate of $0.07. Alphatec had a negative net margin of 13.49% and a negative return on equity of 6,752.24%. The business had revenue of $213.51 million for the quarter, compared to analysts’ expectations of $211.26 million. During the same period in the previous year, the company posted $0.02 EPS. Alphatec’s revenue was up 15.1% on a year-over-year basis. On average, equities analysts anticipate that Alphatec Holdings, Inc. will post -0.45 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of equities analysts recently commented on ATEC shares. BMO Capital Markets raised their price objective on shares of Alphatec from $11.00 to $12.00 and gave the stock an “outperform” rating in a research note on Wednesday, August 5th. Stifel Nicolaus reduced their target price on Alphatec from $16.00 to $13.00 and set a “buy” rating for the company in a report on Wednesday, July 8th. UBS Group raised their target price on Alphatec from $15.00 to $16.00 and gave the stock a “buy” rating in a research report on Wednesday, August 5th. TD Cowen lifted their price target on Alphatec from $11.00 to $13.00 and gave the company a “buy” rating in a report on Wednesday, August 5th. Finally, Stephens started coverage on Alphatec in a research report on Thursday, July 23rd. They set an “overweight” rating and a $15.00 price target on the stock. Thirteen research 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. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $17.40.

Insider Transactions at Alphatec

In other Alphatec news, Director Karen McGinnis sold 6,050 shares of the business’s stock in a transaction dated Thursday, June 11th. The stock was sold at an average price of $8.01, for a total value of $48,460.50. Following the transaction, the director owned 94,671 shares in the company, valued at $758,314.71. The trade was a 6.01% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 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 Marshall sold 8,168 shares of the company’s stock in a transaction dated Wednesday, August 5th. The stock was sold at an average price of $9.65, for a total value of $78,821.20. Following the completion of the transaction, the general counsel directly owned 630,398 shares in the company, valued at approximately $6,083,340.70. The trade was a 1.28% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 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. Insiders own 13.48% of the company’s stock.

About Alphatec

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.