Norden Group LLC Grows Holdings in Alphatec Holdings, Inc. (NASDAQ:ATEC)

Norden Group LLC increased its position in Alphatec Holdings, Inc. (NASDAQ:ATEC) by 1,012.2% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 433,764 shares of the medical technology company’s stock after acquiring an additional 394,763 shares during the quarter. Norden Group LLC owned about 0.31% of Alphatec worth $5,982,000 at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in ATEC. First Light Asset Management LLC grew its holdings in Alphatec by 97.0% during the 4th 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 buying an additional 2,943,310 shares in the last quarter. Cerity Partners LLC purchased a new stake in Alphatec during the 4th quarter valued at approximately $28,451,000. Artisan Partners Limited Partnership purchased a new stake in Alphatec during the 4th quarter valued at approximately $19,050,000. Goldman Sachs Group Inc. grew its holdings in Alphatec by 93.9% during the 4th quarter. Goldman Sachs Group Inc. now owns 1,451,499 shares of the medical technology company’s stock valued at $21,932,000 after buying an additional 702,950 shares in the last quarter. Finally, Intrinsic Edge Capital Management LLC grew its holdings 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 buying an additional 670,788 shares in the last quarter. 66.35% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, CFO John Todd Koning sold 37,500 shares of the firm’s stock in a transaction on Wednesday, April 24th. The stock was sold at an average price of $12.82, for a total value of $480,750.00. Following the completion of the sale, the chief financial officer now directly owns 393,356 shares in the company, valued at $5,042,823.92. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In other news, CFO John Todd Koning sold 37,500 shares of Alphatec stock in a transaction on Wednesday, April 24th. The stock was sold at an average price of $12.82, for a total transaction of $480,750.00. Following the completion of the sale, the chief financial officer now directly owns 393,356 shares in the company, valued at $5,042,823.92. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, General Counsel Tyson Eliot Marshall sold 50,232 shares of Alphatec stock in a transaction on Wednesday, June 12th. The stock was sold at an average price of $10.88, for a total value of $546,524.16. Following the sale, the general counsel now owns 245,638 shares of the company’s stock, valued at $2,672,541.44. The disclosure for this sale can be found here. 22.80% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of brokerages have issued reports on ATEC. Piper Sandler cut their price objective on shares of Alphatec from $19.00 to $17.00 and set an “overweight” rating for the company in a report on Wednesday, May 8th. Canaccord Genuity Group reiterated a “buy” rating and set a $25.00 target price on shares of Alphatec in a research report on Wednesday, March 20th. Finally, Needham & Company LLC reiterated a “buy” rating and set a $23.00 target price on shares of Alphatec in a research report on Wednesday, May 8th. One equities research analyst has rated the stock with a sell rating and eight have assigned a buy rating to the company. According to MarketBeat, Alphatec currently has a consensus rating of “Moderate Buy” and an average target price of $21.75.

Alphatec Stock Up 0.8 %

Shares of ATEC opened at $9.98 on Friday. The company has a market cap of $1.40 billion, a PE ratio of -6.70 and a beta of 1.40. The business has a fifty day moving average of $10.84 and a 200 day moving average of $13.24. Alphatec Holdings, Inc. has a 52-week low of $8.66 and a 52-week high of $19.14. The company has a quick ratio of 1.49, a current ratio of 2.39 and a debt-to-equity ratio of 13.63.

Alphatec (NASDAQ:ATEC) last issued its quarterly earnings results on Tuesday, May 7th. The medical technology company reported ($0.34) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.33) by ($0.01). The company had revenue of $138.48 million during the quarter, compared to the consensus estimate of $134.07 million. Alphatec had a negative return on equity of 1,767.81% and a negative net margin of 37.45%. The firm’s quarterly revenue was up 26.9% compared to the same quarter last year. During the same quarter in the prior year, the business earned ($0.40) earnings per share. On average, sell-side analysts expect that Alphatec Holdings, Inc. will post -1.04 EPS for the current year.

Alphatec Company 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.