Quantbot Technologies LP Acquires 162,282 Shares of Alphatec Holdings, Inc. $ATEC

Quantbot Technologies LP grew its holdings in Alphatec Holdings, Inc. (NASDAQ:ATEC) by 745.8% during the 3rd quarter, Holdings Channel reports. The fund owned 184,041 shares of the medical technology company’s stock after buying an additional 162,282 shares during the period. Quantbot Technologies LP’s holdings in Alphatec were worth $2,676,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also modified their holdings of the company. Aster Capital Management DIFC Ltd bought a new stake in shares of Alphatec during the 3rd quarter valued at $34,000. Semanteon Capital Management LP lifted its position in Alphatec by 262.3% during the third quarter. Semanteon Capital Management LP now owns 38,490 shares of the medical technology company’s stock valued at $560,000 after purchasing an additional 27,866 shares in the last quarter. China Universal Asset Management Co. Ltd. bought a new stake in Alphatec during the third quarter valued at about $73,000. Vanguard Group Inc. grew its holdings in Alphatec by 2.4% during the third quarter. Vanguard Group Inc. now owns 6,815,058 shares of the medical technology company’s stock valued at $99,091,000 after purchasing an additional 158,295 shares during the period. Finally, Fifth Third Bancorp purchased a new stake in Alphatec in the third quarter worth about $314,000. Hedge funds and other institutional investors own 66.35% of the company’s stock.

Alphatec Trading Down 3.3%

ATEC stock opened at $13.02 on Wednesday. The company has a debt-to-equity ratio of 40.35, a current ratio of 2.06 and a quick ratio of 1.28. Alphatec Holdings, Inc. has a 1-year low of $8.81 and a 1-year high of $23.29. The business has a 50 day simple moving average of $16.43 and a two-hundred day simple moving average of $17.08. The company has a market capitalization of $1.97 billion, a price-to-earnings ratio of -13.71 and a beta of 1.02.

Alphatec (NASDAQ:ATEC) last released its earnings results on Tuesday, February 24th. The medical technology company reported $0.06 EPS for the quarter, topping the consensus estimate of $0.04 by $0.02. The company had revenue of $212.93 million during the quarter, compared to analysts’ expectations of $212.67 million. During the same period last year, the firm posted ($0.23) EPS. Alphatec’s quarterly revenue was up 20.4% compared to the same quarter last year. Research analysts anticipate that Alphatec Holdings, Inc. will post -1.08 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on ATEC shares. Wall Street Zen upgraded Alphatec from a “hold” rating to a “buy” rating in a research note on Saturday, January 31st. TD Cowen reaffirmed a “buy” rating on shares of Alphatec in a report on Tuesday, January 27th. Needham & Company LLC reiterated a “buy” rating and issued a $22.00 price target on shares of Alphatec in a research report on Monday, January 12th. Lake Street Capital reissued a “buy” rating on shares of Alphatec in a research note on Wednesday, February 25th. Finally, Barclays raised their price objective on shares of Alphatec from $23.00 to $27.00 and gave the company an “overweight” rating in a research report on Wednesday, January 7th. Ten analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $22.82.

Insiders Place Their Bets

In other Alphatec news, EVP David Sponsel sold 60,425 shares of the stock in a transaction dated Thursday, February 5th. The shares were sold at an average price of $13.79, for a total transaction of $833,260.75. Following the completion of the transaction, the executive vice president owned 349,500 shares of the company’s stock, valued at $4,819,605. This represents a 14.74% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director David R. Pelizzon sold 250,000 shares of the firm’s stock in a transaction dated Tuesday, December 16th. The shares were sold at an average price of $19.66, for a total value of $4,915,000.00. Following the transaction, the director owned 10,395,045 shares of the company’s stock, valued at approximately $204,366,584.70. The trade was a 2.35% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders have sold 1,336,125 shares of company stock worth $27,174,878. 22.80% of the stock is owned by corporate insiders.

Alphatec Company 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.