It was reported on June 3, 2023, that GSA Capital Partners LLP decreased its holdings in Alphatec Holdings, Inc. (NASDAQ:ATEC) by a whopping 37.1% in the fourth quarter of the previous year. The medical technology firm had owned 74,856 shares of ATEC’s stock and sold off 44,213 shares during the stated period. At the end of the quarter under reference, GSA Capital Partners’ ATEC holdings were worth $924,000 or 0.07% of Alphatec’s total value.
Alphatec issued its latest earnings report on February 28th earlier in the year. As per the report, ATEC recorded earnings per share of ($0.33) for Q4 – a figure that fell short of analysts’ estimates by $0.03 as they had predicted ($0.30). In terms of profitability metrics for this period, ATEC saw a negative net margin of nearly 40% and sustained a loss to equity return percentage well over five hundred percent (-575.45%). Alphatec registered revenues worth $105.94 million over the previous quarter as compared to analyst projections for revenue of $105.70 million.
Based out of Carlsbad, CA., Alphatec Holding’s chief focus is on designing and developing spinal fusion tech products that provide solutions for prevalent spinal disorders like fractures and vertebral slippage issues that necessitate surgical intervention. Along with providing access systems and precise intra-operative neuromonitoring technologies support systems facilitate medical practitioners’ revision surgeries — all culminating in an outcome that enhances patient outcomes so critically vital these days.
Given that several market sectors call ALPHATEC’s product range into play going ahead – there are indications at least some industry players foresee rising demand down the line: Investors should not make their decisions purely based on the short-term changes to stock holdings and look at the bigger picture of stock market dynamics that create rich opportunities for enterprising individuals.
Alphatec Holdings, Inc. Sees Changes in Stock Ownership and Insider Trading Activity
Alphatec Holdings, Inc. has recently seen a number of significant changes in its stock ownership and insider trading. Hedge funds and other institutional investors now own nearly half of the company’s stock, with JPMorgan Chase & Co. owning over 2 million shares worth $25.5 million. Advisory Research Inc., HRT Financial LP, Aigen Investment Management LP, and Mirae Asset Global Investments Co. Ltd. also purchased new positions in Alphatec during the fourth quarter of last year.
The medical technology company’s stock opened at $15.32 on Friday, with a 50-day simple moving average of $15.33 and a 200-day simple moving average of $13.57. While the company’s 12-month high is $17.13, it also has a year-low of $5.73.
Alphatec specializes in designing, developing, and marketing spinal fusion technology products and solutions for treating spinal disorders such as intra-operative information and neuromonitoring technologies, access systems, interbody implants fixation systems, and various biologics offerings.
Several analysts have weighed in on the stock in recent months, with Morgan Stanley lifting its target price from $17 to $18 in March and giving the company an “overweight” rating. StockNews.com started coverage on Alphatec last month with a “sell” rating while Needham & Company LLC reaffirmed its “buy” rating with an $18 target price.
In insider trading news, Director L-5 Healthcare Partners sold 1.7 million shares of Alphatec stock earlier this month at an average price of $14.88 for a total value of over $25 million while EVP Craig E. Hunsaker sold over 58 thousand shares at an average price of $15.29 for nearly $890 thousand.
Despite conflicting ratings from analysts and significant insider selling activity, Alphatec Holdings, Inc. remains a major player in the spinal fusion technology industry and continues to attract interest from hedge funds and institutional investors.