Soviero Asset Management LP Purchases Shares of 100,000 Alphatec Holdings, Inc. (NASDAQ:ATEC)

Soviero Asset Management LP purchased a new stake in shares of Alphatec Holdings, Inc. (NASDAQ:ATEC) in the 4th quarter, HoldingsChannel reports. The firm purchased 100,000 shares of the medical technology company’s stock, valued at approximately $918,000.

A number of other institutional investors also recently modified their holdings of ATEC. Congress Asset Management Co. lifted its holdings in Alphatec by 235.4% in the fourth quarter. Congress Asset Management Co. now owns 434,966 shares of the medical technology company’s stock worth $3,993,000 after buying an additional 305,296 shares during the period. Rhumbline Advisers increased its stake in shares of Alphatec by 1.3% during the fourth quarter. Rhumbline Advisers now owns 139,088 shares of the medical technology company’s stock valued at $1,277,000 after purchasing an additional 1,746 shares in the last quarter. Russell Investments Group Ltd. increased its stake in shares of Alphatec by 20.0% during the fourth quarter. Russell Investments Group Ltd. now owns 199,886 shares of the medical technology company’s stock valued at $1,835,000 after purchasing an additional 33,362 shares in the last quarter. Nisa Investment Advisors LLC increased its stake in shares of Alphatec by 973.3% during the fourth quarter. Nisa Investment Advisors LLC now owns 4,669 shares of the medical technology company’s stock valued at $43,000 after purchasing an additional 4,234 shares in the last quarter. Finally, Ballentine Partners LLC bought a new position in shares of Alphatec during the fourth quarter valued at approximately $120,000. 66.35% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, CEO Patrick Miles sold 12,691 shares of the business’s stock in a transaction dated Friday, March 7th. The shares were sold at an average price of $10.64, for a total value of $135,032.24. Following the sale, the chief executive officer now directly owns 5,857,603 shares in the company, valued at $62,324,895.92. The trade was a 0.22% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP David Sponsel sold 12,946 shares of the business’s stock in a transaction dated Monday, February 24th. The stock was sold at an average price of $10.73, for a total transaction of $138,910.58. Following the completion of the sale, the executive vice president now owns 722,128 shares in the company, valued at approximately $7,748,433.44. This trade represents a 1.76% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 126,945 shares of company stock worth $1,416,352 in the last 90 days. 20.90% of the stock is currently owned by corporate insiders.

Alphatec Stock Up 1.7%

Shares of ATEC stock opened at $12.96 on Monday. The stock has a market cap of $1.89 billion, a P/E ratio of -10.13 and a beta of 1.06. Alphatec Holdings, Inc. has a 52 week low of $4.88 and a 52 week high of $13.03. The company has a quick ratio of 1.15, a current ratio of 2.32 and a debt-to-equity ratio of 30.21. The company’s fifty day simple moving average is $10.73 and its two-hundred day simple moving average is $10.40.

Alphatec (NASDAQ:ATEC) last announced its quarterly earnings results on Thursday, May 1st. The medical technology company reported ($0.35) EPS for the quarter, missing the consensus estimate of ($0.12) by ($0.23). The company had revenue of $169.18 million during the quarter, compared to analysts’ expectations of $167.57 million. Alphatec had a negative return on equity of 541.39% and a negative net margin of 31.06%. The firm’s revenue for the quarter was up 22.2% compared to the same quarter last year. During the same quarter in the previous year, the firm earned ($0.34) EPS. Analysts predict that Alphatec Holdings, Inc. will post -1.08 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

ATEC has been the subject of a number of analyst reports. Needham & Company LLC reaffirmed a “buy” rating and set a $16.00 target price on shares of Alphatec in a research note on Friday, May 2nd. Barclays raised their target price on shares of Alphatec from $20.00 to $21.00 and gave the company an “overweight” rating in a research note on Wednesday, January 22nd. StockNews.com raised shares of Alphatec from a “sell” rating to a “hold” rating in a research note on Friday, February 28th. Piper Sandler reaffirmed an “overweight” rating and set a $15.00 target price (up previously from $13.00) on shares of Alphatec in a research note on Friday, May 2nd. Finally, HC Wainwright reaffirmed a “buy” rating and set a $20.00 target price on shares of Alphatec in a research note on Monday, April 14th. Two research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat, Alphatec has an average rating of “Moderate Buy” and an average target price of $17.89.

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.