Magnetar Financial LLC Sells 392,438 Shares of Alphatec Holdings, Inc. (NASDAQ:ATEC)

Magnetar Financial LLC lessened its holdings in Alphatec Holdings, Inc. (NASDAQ:ATEC) by 35.6% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 710,576 shares of the medical technology company’s stock after selling 392,438 shares during the period. Magnetar Financial LLC’s holdings in Alphatec were worth $6,523,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also added to or reduced their stakes in the business. Intech Investment Management LLC raised its stake in Alphatec by 14.7% in the 4th quarter. Intech Investment Management LLC now owns 38,904 shares of the medical technology company’s stock valued at $357,000 after acquiring an additional 4,985 shares during the period. First Eagle Investment Management LLC raised its stake in Alphatec by 36.6% in the 4th quarter. First Eagle Investment Management LLC now owns 658,437 shares of the medical technology company’s stock valued at $6,044,000 after acquiring an additional 176,402 shares during the period. Commonwealth Equity Services LLC raised its stake in Alphatec by 55.9% in the 4th quarter. Commonwealth Equity Services LLC now owns 36,929 shares of the medical technology company’s stock valued at $339,000 after acquiring an additional 13,246 shares during the period. Swiss National Bank raised its stake in Alphatec by 1.1% in the 4th quarter. Swiss National Bank now owns 207,200 shares of the medical technology company’s stock valued at $1,902,000 after acquiring an additional 2,300 shares during the period. Finally, Great Lakes Advisors LLC raised its stake in Alphatec by 130.1% in the 4th quarter. Great Lakes Advisors LLC now owns 379,187 shares of the medical technology company’s stock valued at $3,481,000 after acquiring an additional 214,375 shares during the period. Institutional investors own 66.35% of the company’s stock.

Insider Buying and Selling at Alphatec

In other Alphatec news, EVP David Sponsel sold 33,732 shares of Alphatec stock in a transaction dated Thursday, March 6th. The stock was sold at an average price of $10.83, for a total value of $365,317.56. Following the transaction, the executive vice president now owns 668,977 shares in the company, valued at $7,245,020.91. The trade was a 4.80 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Patrick Miles sold 50,000 shares of Alphatec stock in a transaction dated Wednesday, January 29th. The shares were sold at an average price of $12.03, for a total value of $601,500.00. Following the completion of the transaction, the chief executive officer now owns 6,152,544 shares in the company, valued at approximately $74,015,104.32. This represents a 0.81 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 337,321 shares of company stock worth $3,828,060 over the last 90 days. Insiders own 22.80% of the company’s stock.

Alphatec Stock Performance

ATEC opened at $9.54 on Thursday. The firm has a market cap of $1.38 billion, a P/E ratio of -7.45 and a beta of 1.39. Alphatec Holdings, Inc. has a 52-week low of $4.88 and a 52-week high of $14.88. The company has a debt-to-equity ratio of 30.21, a quick ratio of 1.15 and a current ratio of 2.32. The business’s fifty day moving average is $10.95 and its 200-day moving average is $8.80.

Alphatec (NASDAQ:ATEC) last released its earnings results on Wednesday, February 26th. The medical technology company reported ($0.23) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.19) by ($0.04). The company had revenue of $176.79 million for the quarter, compared to analyst estimates of $172.74 million. Alphatec had a negative return on equity of 541.39% and a negative net margin of 31.06%. Sell-side analysts expect that Alphatec Holdings, Inc. will post -1.08 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

ATEC has been the topic of a number of research analyst reports. Needham & Company LLC restated a “buy” rating and issued a $16.00 price target on shares of Alphatec in a research note on Thursday, February 27th. HC Wainwright reaffirmed a “buy” rating and issued a $20.00 price objective on shares of Alphatec in a report on Tuesday, January 14th. StockNews.com raised Alphatec from a “sell” rating to a “hold” rating in a report on Friday, February 28th. Barclays upped their price objective on Alphatec from $20.00 to $21.00 and gave the company an “overweight” rating in a report on Wednesday, January 22nd. Finally, Piper Sandler upped their price objective on Alphatec from $12.00 to $13.00 and gave the company an “overweight” rating in a report on Thursday, February 27th. Two equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $17.67.

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.