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. grew its stake in shares of Alphatec by 17.0% in the 2nd quarter. Ameritas Investment Partners Inc. now owns 5,397 shares of the medical technology company’s stock worth $83,000 after acquiring an additional 785 shares in the last quarter. Altshuler Shaham Ltd grew its stake in shares of Alphatec by 103.4% in the 1st quarter. Altshuler Shaham Ltd now owns 6,223 shares of the medical technology company’s stock worth $98,000 after acquiring an additional 3,164 shares in the last quarter. O Shaughnessy Asset Management LLC bought a new stake in shares of Alphatec in the 1st quarter worth $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 news, SVP Scott Lish sold 10,000 shares of the stock in a transaction dated Tuesday, August 3rd. The shares were sold at an average price of $14.24, for a total value of $142,400.00. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 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. Zacks Investment Research lowered shares of Alphatec from a “hold” rating to a “sell” rating in a research note on Tuesday, October 5th. Cowen assumed 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. Needham & Company LLC assumed coverage on shares of Alphatec in a report on Wednesday, August 25th. They issued a “buy” rating and a $18.00 price target on the stock. 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. Finally, Piper Sandler boosted their price target on shares of Alphatec from $19.00 to $22.00 and gave the stock an “overweight” 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.

NASDAQ ATEC opened at $12.20 on Thursday. The company has a market cap of $1.22 billion, a PE ratio of -9.84 and a beta of 1.58. Alphatec Holdings, Inc. has a 52 week low of $8.27 and a 52 week high of $19.36. The company has a quick ratio of 1.11, a current ratio of 1.92 and a debt-to-equity ratio of 0.26. The firm’s 50-day simple moving average is $13.37 and its two-hundred day simple moving average is $14.55.

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, equities research analysts anticipate that Alphatec Holdings, Inc. will post -1.13 EPS 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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