BNP Paribas Arbitrage SA Sells 5,648 Shares of Alphatec Holdings, Inc. (NASDAQ:ATEC)

BNP Paribas Arbitrage SA lessened its holdings in shares of Alphatec Holdings, Inc. (NASDAQ:ATEC) by 67.4% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,729 shares of the medical technology company’s stock after selling 5,648 shares during the quarter. BNP Paribas Arbitrage SA’s holdings in Alphatec were worth $42,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. Ameritas Investment Partners Inc. increased its stake in Alphatec by 17.0% during the 2nd quarter. Ameritas Investment Partners Inc. now owns 5,397 shares of the medical technology company’s stock valued at $83,000 after purchasing an additional 785 shares in the last quarter. Altshuler Shaham Ltd increased its stake in Alphatec by 103.4% during the 1st quarter. Altshuler Shaham Ltd now owns 6,223 shares of the medical technology company’s stock valued at $98,000 after purchasing an additional 3,164 shares in the last quarter. O Shaughnessy Asset Management LLC bought a new stake in Alphatec during the 1st quarter valued at $118,000. Pinz Capital Management LP bought a new stake in shares of Alphatec in the 1st quarter worth $129,000. Finally, CIBC Private Wealth Group LLC bought a new stake in shares of Alphatec in the 1st quarter worth $158,000. Institutional investors and hedge funds own 44.75% of the company’s stock.

In other Alphatec news, SVP Scott Lish sold 10,000 shares of the company’s stock in a transaction dated Tuesday, August 3rd. The shares were sold at an average price of $14.24, for a total transaction of $142,400.00. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, major shareholder Jennifer N. Pritzker purchased 2,000 shares of the stock in a transaction dated Friday, August 27th. The stock was purchased at an average cost of $13.26 per share, for a total transaction of $26,520.00. Following the completion of the acquisition, the insider now owns 38,200 shares of the company’s stock, valued at approximately $506,532. The disclosure for this purchase can be found here. Over the last ninety days, insiders have acquired 5,631 shares of company stock worth $75,312. Insiders own 34.38% of the company’s stock.

ATEC has been the subject of several recent analyst reports. Needham & Company LLC initiated coverage on shares of Alphatec in a research note on Wednesday, August 25th. They issued a “buy” rating and a $18.00 target price for the company. Cowen initiated coverage on shares of Alphatec in a research note on Wednesday, August 4th. They issued an “outperform” rating and a $22.50 target price for the company. Piper Sandler upped their target price on shares of Alphatec from $19.00 to $22.00 and gave the stock an “overweight” rating in a research note on Wednesday, August 4th. Zacks Investment Research lowered shares of Alphatec from a “hold” rating to a “sell” rating in a research note on Tuesday, October 5th. Finally, Canaccord Genuity boosted their price target on shares of Alphatec from $21.00 to $24.00 and gave the stock a “buy” rating in a report on Wednesday, August 4th. One analyst has rated the stock with a sell rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Buy” and an average target price of $19.31.

Shares of NASDAQ:ATEC opened at $12.20 on Thursday. The company’s 50-day moving average is $13.37 and its 200 day moving average is $14.55. The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.11 and a current ratio of 1.92. The company has a market capitalization of $1.22 billion, a P/E ratio of -9.84 and a beta of 1.58. Alphatec Holdings, Inc. has a fifty-two week low of $8.27 and a fifty-two week high of $19.36.

Alphatec (NASDAQ:ATEC) last released its quarterly earnings data on Monday, August 2nd. The medical technology company reported ($0.39) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.19) by ($0.20). The business had revenue of $62.25 million for the quarter, compared to analysts’ expectations of $51.20 million. Alphatec had a negative net margin of 54.09% and a negative return on equity of 86.64%. As a group, research analysts predict that Alphatec Holdings, Inc. will post -1.13 earnings per share for the current year.

About Alphatec

Alphatec Holdings, Inc engages in the design, development, and marketing of spinal fusion technology products and solutions for the treatment of spinal disorders. It offers intra-operative information and neuromonitoring technologies, access systems, interbody implants, fixation systems, and various biologics offerings.

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Institutional Ownership by Quarter for Alphatec (NASDAQ:ATEC)

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