BNP Paribas Financial Markets Acquires 71,933 Shares of Alphatec Holdings, Inc. $ATEC

BNP Paribas Financial Markets raised its holdings in Alphatec Holdings, Inc. (NASDAQ:ATEC) by 11.3% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 708,548 shares of the medical technology company’s stock after purchasing an additional 71,933 shares during the quarter. BNP Paribas Financial Markets’ holdings in Alphatec were worth $14,908,000 as of its most recent SEC filing.

Several other institutional investors have also recently bought and sold shares of ATEC. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in shares of Alphatec by 4.5% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 74,005 shares of the medical technology company’s stock worth $750,000 after acquiring an additional 3,196 shares during the last quarter. Dynamic Technology Lab Private Ltd bought a new stake in shares of Alphatec during the first quarter worth $257,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its position in shares of Alphatec by 18.4% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 265,907 shares of the medical technology company’s stock worth $2,696,000 after acquiring an additional 41,264 shares during the last quarter. Quantbot Technologies LP bought a new stake in shares of Alphatec during the second quarter worth $242,000. Finally, Invesco Ltd. raised its position in shares of Alphatec by 455.0% during the second quarter. Invesco Ltd. now owns 282,212 shares of the medical technology company’s stock worth $3,133,000 after acquiring an additional 231,367 shares during the last quarter. Institutional investors own 66.35% of the company’s stock.

Insider Activity at Alphatec

In related news, EVP Craig E. Hunsaker sold 82,765 shares of the company’s stock in a transaction dated Monday, March 9th. The stock was sold at an average price of $12.45, for a total value of $1,030,424.25. Following the completion of the sale, the executive vice president owned 1,726,209 shares in the company, valued at approximately $21,491,302.05. This represents a 4.58% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, EVP David Sponsel sold 163,452 shares of the stock in a transaction dated Wednesday, March 11th. The stock was sold at an average price of $12.52, for a total value of $2,046,419.04. Following the completion of the sale, the executive vice president owned 504,932 shares of the company’s stock, valued at $6,321,748.64. This trade represents a 24.45% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last quarter, insiders sold 506,752 shares of company stock worth $6,281,424. 13.48% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on ATEC shares. Needham & Company LLC dropped their target price on Alphatec from $25.00 to $14.00 and set a “buy” rating for the company in a research report on Wednesday, May 6th. Wells Fargo & Company dropped their target price on Alphatec from $28.00 to $14.00 and set an “overweight” rating for the company in a research report on Thursday, May 7th. Lake Street Capital restated a “buy” rating and set a $15.00 target price on shares of Alphatec in a research report on Wednesday, May 6th. HC Wainwright restated a “buy” rating and set a $24.00 target price on shares of Alphatec in a research report on Thursday, May 7th. Finally, TD Cowen dropped their price objective on Alphatec from $20.00 to $11.00 and set a “buy” rating for the company in a report on Wednesday, May 6th. Ten equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $18.58.

Alphatec Trading Up 1.0%

NASDAQ ATEC opened at $8.00 on Friday. The stock has a 50-day simple moving average of $9.42 and a 200 day simple moving average of $14.35. The company has a market capitalization of $1.23 billion, a PE ratio of -9.76 and a beta of 0.88. The company has a current ratio of 1.90, a quick ratio of 1.12 and a debt-to-equity ratio of 40.35. Alphatec Holdings, Inc. has a 12 month low of $6.82 and a 12 month high of $23.29.

Alphatec (NASDAQ:ATEC) last released its quarterly earnings data on Tuesday, May 5th. The medical technology company reported ($0.22) EPS for the quarter, missing analysts’ consensus estimates of ($0.01) by ($0.21). The company had revenue of $192.11 million during the quarter, compared to the consensus estimate of $197.51 million. Alphatec had a negative net margin of 15.93% and a negative return on equity of 1,183.84%. The company’s revenue for the quarter was up 13.6% compared to the same quarter last year. During the same quarter in the prior year, the company posted ($0.35) EPS. Research analysts forecast that Alphatec Holdings, Inc. will post -0.44 EPS for the current year.

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.