Jefferies Financial Group Inc. Invests $800,000 in Alphatec Holdings, Inc. $ATEC

Jefferies Financial Group Inc. purchased a new stake in shares of Alphatec Holdings, Inc. (NASDAQ:ATEC) in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund purchased 55,000 shares of the medical technology company’s stock, valued at approximately $800,000.

Several other large investors have also made changes to their positions in the company. Granite Investment Partners LLC raised its position in Alphatec by 320.6% during the second quarter. Granite Investment Partners LLC now owns 1,720,944 shares of the medical technology company’s stock valued at $19,102,000 after acquiring an additional 1,311,748 shares in the last quarter. Assenagon Asset Management S.A. grew its position in Alphatec by 7,083.2% in the third quarter. Assenagon Asset Management S.A. now owns 750,429 shares of the medical technology company’s stock worth $10,911,000 after acquiring an additional 739,982 shares in the last quarter. Balyasny Asset Management L.P. increased its stake in shares of Alphatec by 173.1% during the 2nd quarter. Balyasny Asset Management L.P. now owns 719,469 shares of the medical technology company’s stock worth $7,986,000 after purchasing an additional 456,063 shares during the last quarter. Jump Financial LLC raised its holdings in shares of Alphatec by 200.0% during the 2nd quarter. Jump Financial LLC now owns 609,773 shares of the medical technology company’s stock valued at $6,768,000 after purchasing an additional 406,489 shares in the last quarter. Finally, Next Century Growth Investors LLC raised its holdings in shares of Alphatec by 22.8% during the 2nd quarter. Next Century Growth Investors LLC now owns 2,060,735 shares of the medical technology company’s stock valued at $22,874,000 after purchasing an additional 382,057 shares in the last quarter. Institutional investors own 66.35% of the company’s stock.

Alphatec Trading Down 1.3%

Shares of NASDAQ:ATEC opened at $12.50 on Friday. The company has a debt-to-equity ratio of 40.35, a quick ratio of 1.28 and a current ratio of 2.06. The stock’s 50-day moving average is $15.28 and its 200-day moving average is $16.90. The company has a market cap of $1.89 billion, a P/E ratio of -13.16 and a beta of 1.02. Alphatec Holdings, Inc. has a 52-week low of $8.81 and a 52-week high of $23.29.

Alphatec (NASDAQ:ATEC) last posted its quarterly earnings data on Tuesday, February 24th. The medical technology company reported $0.06 earnings per share for the quarter, topping the consensus estimate of $0.04 by $0.02. The business had revenue of $212.93 million for the quarter, compared to analyst estimates of $212.67 million. During the same period in the prior year, the firm posted ($0.23) EPS. Alphatec’s revenue for the quarter was up 20.4% on a year-over-year basis. Equities research analysts predict that Alphatec Holdings, Inc. will post -1.08 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on ATEC. HC Wainwright reaffirmed a “buy” rating and issued a $24.00 price target on shares of Alphatec in a research report on Monday, January 12th. Needham & Company LLC reissued a “buy” rating and set a $22.00 price objective on shares of Alphatec in a report on Monday, January 12th. Morgan Stanley set a $23.00 price objective on Alphatec in a research note on Tuesday, December 2nd. Barclays upped their target price on Alphatec from $23.00 to $27.00 and gave the stock an “overweight” rating in a research report on Wednesday, January 7th. Finally, TD Cowen reiterated a “buy” rating on shares of Alphatec in a report on Tuesday, January 27th. Ten research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, Alphatec currently has a consensus rating of “Moderate Buy” and an average price target of $22.82.

Insider Buying and Selling

In other news, CEO Patrick Miles sold 100,000 shares of the company’s stock in a transaction that occurred on Monday, January 5th. The stock was sold at an average price of $21.01, for a total transaction of $2,101,000.00. Following the completion of the transaction, the chief executive officer directly owned 5,135,398 shares in the company, valued at $107,894,711.98. The trade was a 1.91% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP David Sponsel sold 60,425 shares of the stock in a transaction that occurred on Thursday, February 5th. The shares were sold at an average price of $13.79, for a total value of $833,260.75. Following the completion of the sale, the executive vice president directly owned 349,500 shares of the company’s stock, valued at $4,819,605. This represents a 14.74% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last quarter, insiders sold 672,885 shares of company stock worth $11,340,223. 20.90% of the stock is currently owned by company insiders.

Alphatec Company Profile

Alphatec Holdings, Inc (NASDAQ: ATEC) is a medical technology company focused on the design, development and commercialization of products for the surgical correction of degenerative spinal conditions. The company’s portfolio centers on interbody implants, biologics, fixation devices and surgical planning tools intended to improve patient outcomes in spinal fusion procedures. Alphatec’s flagship offerings include customizable interbody cages, bone graft materials and specialized instrumentation designed for minimally invasive and open spinal surgeries.

Founded as Alphatec Spine in 1985 and rebranded as Alphatec Holdings in 2018, the company has grown from a single-product organization into a multi-platform innovator in the spine market.