Paradigm Capital Management Inc. NY Makes New $9.41 Million Investment in Alphatec Holdings, Inc. $ATEC

Paradigm Capital Management Inc. NY bought a new stake in shares of Alphatec Holdings, Inc. (NASDAQ:ATEC) during the 2nd quarter, HoldingsChannel.com reports. The firm bought 1,088,200 shares of the medical technology company’s stock, valued at approximately $9,413,000.

A number of other hedge funds also recently modified their holdings of the business. Millennium Management LLC grew its holdings in shares of Alphatec by 292.2% during the fourth quarter. Millennium Management LLC now owns 2,225,927 shares of the medical technology company’s stock valued at $46,834,000 after buying an additional 1,658,349 shares in the last quarter. Iron Triangle Partners LP purchased a new stake in Alphatec in the 4th quarter worth about $27,051,000. Morgan Stanley boosted its position in Alphatec by 22.0% during the 4th quarter. Morgan Stanley now owns 4,340,936 shares of the medical technology company’s stock worth $91,333,000 after acquiring an additional 784,191 shares during the period. M&G PLC purchased a new position in Alphatec during the 4th quarter valued at about $14,055,000. Finally, Two Sigma Investments LP increased its holdings in shares of Alphatec by 59.0% in the 3rd quarter. Two Sigma Investments LP now owns 1,794,324 shares of the medical technology company’s stock valued at $26,089,000 after purchasing an additional 665,634 shares during the period. Hedge funds and other institutional investors own 66.35% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts recently commented on ATEC shares. Lake Street Capital restated a “buy” rating and set a $15.00 price target on shares of Alphatec in a report on Wednesday, May 6th. Wells Fargo & Company dropped their price objective on shares of Alphatec from $28.00 to $14.00 and set an “overweight” rating on the stock in a research note on Thursday, May 7th. Wall Street Zen downgraded shares of Alphatec from a “buy” rating to a “hold” rating in a research report on Sunday, July 12th. Weiss Ratings reissued a “sell (d-)” rating on shares of Alphatec in a research note on Monday, August 3rd. Finally, Barclays lowered their price target on shares of Alphatec from $27.00 to $24.00 and set an “overweight” rating on the stock in a report on Thursday, May 7th. Thirteen 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. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $17.40.

Insider Buying and Selling at Alphatec

In related news, Director Karen K. Mcginnis sold 6,050 shares of Alphatec stock in a transaction on Thursday, June 11th. The shares were sold at an average price of $8.01, for a total value of $48,460.50. Following the completion of the sale, the director owned 94,671 shares of the company’s stock, valued at approximately $758,314.71. The trade was a 6.01% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 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 Eliot Marshall sold 8,168 shares of the company’s stock in a transaction on Wednesday, August 5th. The stock was sold at an average price of $9.65, for a total transaction of $78,821.20. Following the completion of the sale, the general counsel owned 630,398 shares of the company’s stock, valued at $6,083,340.70. This represents a 1.28% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 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. Corporate insiders own 13.48% of the company’s stock.

Alphatec Trading Down 2.5%

Shares of NASDAQ ATEC opened at $9.24 on Tuesday. The business has a 50 day simple moving average of $9.14 and a 200 day simple moving average of $10.19. Alphatec Holdings, Inc. has a 52 week low of $6.82 and a 52 week high of $23.29. The stock has a market cap of $1.43 billion, a price-to-earnings ratio of -13.01 and a beta of 0.85. The company has a debt-to-equity ratio of 40.35, a quick ratio of 1.07 and a current ratio of 1.89.

Alphatec (NASDAQ:ATEC) last issued its quarterly earnings data on Tuesday, August 4th. The medical technology company reported $0.07 earnings per share for the quarter, meeting the consensus estimate of $0.07. The firm had revenue of $213.51 million for the quarter, compared to analyst estimates of $211.26 million. Alphatec had a negative net margin of 13.49% and a negative return on equity of 6,752.24%. The company’s revenue for the quarter was up 15.1% on a year-over-year basis. During the same quarter last year, the firm earned $0.02 earnings per share. On average, research analysts predict that Alphatec Holdings, Inc. will post -0.45 earnings per share for the current fiscal year.

Alphatec Profile

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.