Magnetar Financial LLC Takes Position in Alphatec Holdings, Inc. (NASDAQ:ATEC)

Magnetar Financial LLC acquired a new position in Alphatec Holdings, Inc. (NASDAQ:ATEC) during the second quarter, according to the company in its most recent filing with the SEC. The fund acquired 1,048,511 shares of the medical technology company’s stock, valued at approximately $10,957,000. Magnetar Financial LLC owned approximately 0.75% of Alphatec at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. First Light Asset Management LLC boosted its holdings in Alphatec by 97.0% in the fourth quarter. First Light Asset Management LLC now owns 5,976,851 shares of the medical technology company’s stock valued at $90,310,000 after purchasing an additional 2,943,310 shares during the last quarter. Artisan Partners Limited Partnership bought a new stake in shares of Alphatec in the fourth quarter worth $19,050,000. Goldman Sachs Group Inc. raised its holdings in Alphatec by 93.9% in the fourth quarter. Goldman Sachs Group Inc. now owns 1,451,499 shares of the medical technology company’s stock valued at $21,932,000 after acquiring an additional 702,950 shares in the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. raised its holdings in Alphatec by 48.1% in the first quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 2,125,042 shares of the medical technology company’s stock valued at $29,305,000 after acquiring an additional 690,022 shares in the last quarter. Finally, Intrinsic Edge Capital Management LLC boosted its stake in Alphatec by 72.2% during the 4th quarter. Intrinsic Edge Capital Management LLC now owns 1,599,849 shares of the medical technology company’s stock valued at $24,174,000 after acquiring an additional 670,788 shares during the last quarter. 66.35% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on the stock. Piper Sandler cut their target price on shares of Alphatec from $17.00 to $12.00 and set an “overweight” rating on the stock in a research note on Thursday, August 1st. Wells Fargo & Company cut their price objective on Alphatec from $26.00 to $19.00 and set an “overweight” rating on the stock in a research note on Thursday, August 1st. Needham & Company LLC decreased their target price on Alphatec from $23.00 to $13.00 and set a “buy” rating for the company in a research report on Thursday, August 22nd. Canaccord Genuity Group reissued a “buy” rating and set a $20.00 price target on shares of Alphatec in a research report on Friday, August 30th. Finally, Lake Street Capital decreased their price objective on shares of Alphatec from $32.00 to $18.00 and set a “buy” rating for the company in a report on Tuesday, September 3rd. One research analyst has rated the stock with a sell rating, one has given a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $17.50.

Insider Buying and Selling at Alphatec

In related news, Director David M. Demski acquired 50,000 shares of the stock in a transaction that occurred on Wednesday, August 21st. The shares were acquired at an average price of $5.67 per share, for a total transaction of $283,500.00. Following the completion of the purchase, the director now directly owns 288,441 shares of the company’s stock, valued at $1,635,460.47. The purchase was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 22.80% of the stock is owned by corporate insiders.

Alphatec Trading Down 2.9 %

Shares of NASDAQ:ATEC opened at $6.03 on Monday. The company has a quick ratio of 1.21, a current ratio of 2.22 and a debt-to-equity ratio of 30.21. The company’s 50-day moving average price is $7.40 and its 200 day moving average price is $10.27. The company has a market cap of $843.50 million, a PE ratio of -4.05 and a beta of 1.40. Alphatec Holdings, Inc. has a fifty-two week low of $5.28 and a fifty-two week high of $17.34.

Alphatec (NASDAQ:ATEC) last issued its quarterly earnings data on Wednesday, July 31st. The medical technology company reported ($0.29) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.26) by ($0.03). Alphatec had a negative return on equity of 816.57% and a negative net margin of 33.48%. The business had revenue of $145.57 million for the quarter, compared to analyst estimates of $144.55 million. During the same quarter in the prior year, the firm posted ($0.43) earnings per share. The business’s quarterly revenue was up 24.5% on a year-over-year basis. Sell-side analysts anticipate that Alphatec Holdings, Inc. will post -1.08 earnings per share for the current year.

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.