Braidwell LP Lowers Stake in Alphatec Holdings, Inc. $ATEC

Braidwell LP cut its stake in Alphatec Holdings, Inc. (NASDAQ:ATEC) by 84.0% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,514,604 shares of the medical technology company’s stock after selling 7,938,568 shares during the period. Braidwell LP owned about 1.02% of Alphatec worth $22,022,000 at the end of the most recent quarter.

Several other institutional investors also recently added to or reduced their stakes in ATEC. Granite Investment Partners LLC boosted its position in Alphatec by 320.6% in the 2nd quarter. Granite Investment Partners LLC now owns 1,720,944 shares of the medical technology company’s stock valued at $19,102,000 after buying an additional 1,311,748 shares during the period. Assenagon Asset Management S.A. grew its stake in Alphatec by 7,083.2% in the 3rd quarter. Assenagon Asset Management S.A. now owns 750,429 shares of the medical technology company’s stock worth $10,911,000 after acquiring an additional 739,982 shares in the last quarter. Two Sigma Investments LP increased its position in shares of Alphatec by 59.0% during the third quarter. Two Sigma Investments LP now owns 1,794,324 shares of the medical technology company’s stock worth $26,089,000 after acquiring an additional 665,634 shares during the period. Balyasny Asset Management L.P. increased its position in shares of Alphatec by 173.1% during the second quarter. Balyasny Asset Management L.P. now owns 719,469 shares of the medical technology company’s stock worth $7,986,000 after acquiring an additional 456,063 shares during the period. Finally, Jump Financial LLC raised its stake in shares of Alphatec by 200.0% during the second quarter. Jump Financial LLC now owns 609,773 shares of the medical technology company’s stock valued at $6,768,000 after acquiring an additional 406,489 shares in the last quarter. Hedge funds and other institutional investors own 66.35% of the company’s stock.

Insider Activity

In related news, CEO Patrick Miles sold 100,000 shares of the firm’s stock in a transaction dated Monday, January 5th. The stock was sold at an average price of $21.01, for a total transaction of $2,101,000.00. Following the sale, the chief executive officer owned 5,135,398 shares of the company’s stock, valued at $107,894,711.98. This trade represents a 1.91% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Craig E. Hunsaker sold 82,765 shares of Alphatec stock in a transaction dated Monday, March 9th. The shares were sold at an average price of $12.45, for a total value of $1,030,424.25. Following the completion of the transaction, the executive vice president owned 1,726,209 shares in the company, valued at $21,491,302.05. This trade represents a 4.58% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 836,337 shares of company stock worth $13,386,642 over the last ninety days. 20.90% of the stock is currently owned by corporate insiders.

Alphatec Stock Performance

Shares of NASDAQ:ATEC opened at $12.28 on Friday. The firm has a 50 day moving average of $15.11 and a 200 day moving average of $16.88. The company has a quick ratio of 1.28, a current ratio of 2.06 and a debt-to-equity ratio of 40.35. The company has a market capitalization of $1.86 billion, a price-to-earnings ratio of -12.93 and a beta of 1.02. Alphatec Holdings, Inc. has a 52 week low of $8.81 and a 52 week high of $23.29.

Alphatec (NASDAQ:ATEC) last announced its earnings results on Tuesday, February 24th. The medical technology company reported $0.06 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.04 by $0.02. The company had revenue of $212.93 million for the quarter, compared to the consensus estimate of $212.67 million. During the same period last year, the business posted ($0.23) EPS. The firm’s revenue was up 20.4% compared to the same quarter last year. On average, sell-side analysts predict that Alphatec Holdings, Inc. will post -1.08 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of analysts recently issued reports on the company. TD Cowen reiterated a “buy” rating on shares of Alphatec in a report on Tuesday, January 27th. Barclays lifted their target price on Alphatec from $23.00 to $27.00 and gave the company an “overweight” rating in a research report on Wednesday, January 7th. Weiss Ratings reiterated a “sell (e+)” rating on shares of Alphatec in a report on Monday, December 29th. Morgan Stanley set a $23.00 price target on Alphatec in a research report on Tuesday, December 2nd. Finally, Loop Capital set a $25.00 price objective on Alphatec in a report on Wednesday, December 10th. Ten equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $22.82.

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.