Alphatec Holdings, Inc. $ATEC Stock Position Raised by BNP Paribas Financial Markets

BNP Paribas Financial Markets raised its position in shares of Alphatec Holdings, Inc. (NASDAQ:ATEC) by 11.3% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 708,548 shares of the medical technology company’s stock after purchasing an additional 71,933 shares during the period. BNP Paribas Financial Markets owned 0.48% of Alphatec worth $14,908,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Creative Planning raised its stake in shares of Alphatec by 0.9% in the 3rd quarter. Creative Planning now owns 58,654 shares of the medical technology company’s stock valued at $853,000 after acquiring an additional 534 shares in the last quarter. Arizona State Retirement System raised its stake in shares of Alphatec by 2.8% in the 3rd quarter. Arizona State Retirement System now owns 34,603 shares of the medical technology company’s stock valued at $503,000 after acquiring an additional 949 shares in the last quarter. Oppenheimer Asset Management Inc. raised its stake in shares of Alphatec by 9.9% in the 4th quarter. Oppenheimer Asset Management Inc. now owns 15,075 shares of the medical technology company’s stock valued at $317,000 after acquiring an additional 1,353 shares in the last quarter. Northwestern Mutual Wealth Management Co. raised its stake in shares of Alphatec by 157.1% in the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 2,571 shares of the medical technology company’s stock valued at $54,000 after acquiring an additional 1,571 shares in the last quarter. Finally, ProShare Advisors LLC raised its stake in shares of Alphatec by 8.2% in the 4th quarter. ProShare Advisors LLC now owns 21,470 shares of the medical technology company’s stock valued at $452,000 after acquiring an additional 1,633 shares in the last quarter. 66.35% of the stock is owned by hedge funds and other institutional investors.

Alphatec Price Performance

Shares of NASDAQ:ATEC opened at $8.00 on Friday. Alphatec Holdings, Inc. has a 1-year low of $6.82 and a 1-year high of $23.29. The firm has a market capitalization of $1.23 billion, a PE ratio of -9.76 and a beta of 0.88. The business’s 50 day moving average is $9.42 and its 200-day moving average is $14.35. 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 (NASDAQ:ATEC) last announced its quarterly earnings data on Tuesday, May 5th. The medical technology company reported ($0.22) earnings per share for the quarter, missing the consensus estimate of ($0.01) by ($0.21). The firm had revenue of $192.11 million for the quarter, compared to analyst estimates of $197.51 million. Alphatec had a negative return on equity of 1,183.84% and a negative net margin of 15.93%.Alphatec’s revenue for the quarter was up 13.6% compared to the same quarter last year. During the same period in the previous year, the business posted ($0.35) EPS. Sell-side analysts predict that Alphatec Holdings, Inc. will post -0.44 earnings per share for the current year.

Insider Activity at Alphatec

In related news, EVP Craig E. Hunsaker sold 82,765 shares of the business’s stock in a transaction on 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 sale, the executive vice president owned 1,726,209 shares of the company’s stock, valued at $21,491,302.05. The trade was a 4.58% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP David Sponsel sold 163,452 shares of Alphatec stock in a transaction on Wednesday, March 11th. The shares were sold at an average price of $12.52, for a total value of $2,046,419.04. Following the completion of the transaction, the executive vice president owned 504,932 shares of the company’s stock, valued at approximately $6,321,748.64. The trade was a 24.45% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 506,752 shares of company stock valued at $6,281,424 in the last 90 days. 13.48% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on ATEC. Canaccord Genuity Group cut their price objective on Alphatec from $25.00 to $23.00 and set a “buy” rating on the stock in a research note on Wednesday, May 6th. TD Cowen cut their price objective on Alphatec from $20.00 to $11.00 and set a “buy” rating on the stock in a research note on Wednesday, May 6th. Stifel Nicolaus cut their price objective on Alphatec from $24.00 to $20.00 and set a “buy” rating on the stock in a research note on Monday, March 9th. JPMorgan Chase & Co. dropped their price target on Alphatec from $24.00 to $16.00 and set an “overweight” rating on the stock in a research report on Wednesday, May 6th. Finally, Weiss Ratings raised Alphatec from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Wednesday, May 6th. Ten analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $18.58.

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.