Principal Financial Group Inc. Has $195,000 Stock Position in Alphatec Holdings, Inc. (NASDAQ:ATEC)

Principal Financial Group Inc. reduced its holdings in shares of Alphatec Holdings, Inc. (NASDAQ:ATEC) by 94.2% in the second quarter, Holdings Channel reports. The institutional investor owned 18,694 shares of the medical technology company’s stock after selling 301,836 shares during the period. Principal Financial Group Inc.’s holdings in Alphatec were worth $195,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in ATEC. First Light Asset Management LLC grew its holdings in shares of Alphatec by 97.0% during the fourth 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 during the last quarter. Artisan Partners Limited Partnership purchased a new position in Alphatec during the fourth quarter worth about $19,050,000. Goldman Sachs Group Inc. boosted its holdings in Alphatec by 93.9% during the fourth quarter. Goldman Sachs Group Inc. now owns 1,451,499 shares of the medical technology company’s stock worth $21,932,000 after purchasing an additional 702,950 shares during the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. boosted its holdings in Alphatec by 48.1% during the first quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 2,125,042 shares of the medical technology company’s stock worth $29,305,000 after purchasing an additional 690,022 shares during the last quarter. Finally, Intrinsic Edge Capital Management LLC boosted its holdings in Alphatec by 72.2% during the fourth quarter. Intrinsic Edge Capital Management LLC now owns 1,599,849 shares of the medical technology company’s stock worth $24,174,000 after purchasing an additional 670,788 shares during the last quarter. 66.35% of the stock is currently owned by institutional investors and hedge funds.

Alphatec Stock Performance

NASDAQ ATEC opened at $5.59 on Monday. The company’s 50 day moving average is $7.89 and its 200-day moving average is $10.55. The company has a quick ratio of 1.21, a current ratio of 2.22 and a debt-to-equity ratio of 30.21. The firm has a market cap of $781.95 million, a P/E ratio of -3.75 and a beta of 1.40. Alphatec Holdings, Inc. has a 12-month low of $5.28 and a 12-month high of $17.34.

Alphatec (NASDAQ:ATEC) last posted its earnings results on Wednesday, July 31st. The medical technology company reported ($0.29) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.26) by ($0.03). The firm had revenue of $145.57 million for the quarter, compared to the consensus estimate of $144.55 million. Alphatec had a negative return on equity of 816.57% and a negative net margin of 33.48%. The business’s revenue was up 24.5% on a year-over-year basis. During the same period last year, the company posted ($0.43) EPS. Sell-side analysts predict that Alphatec Holdings, Inc. will post -1.08 earnings per share for the current year.

Insider Buying and Selling

In other news, Director David M. Demski bought 50,000 shares of the firm’s stock in a transaction that occurred on Wednesday, August 21st. The shares were acquired at an average price of $5.67 per share, with a total value of $283,500.00. Following the acquisition, the director now owns 288,441 shares of the company’s stock, valued at approximately $1,635,460.47. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 22.80% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on ATEC. Wells Fargo & Company cut their price target on shares of Alphatec from $26.00 to $19.00 and set an “overweight” rating on the stock in a report on Thursday, August 1st. HC Wainwright restated a “buy” rating and set a $20.00 price target on shares of Alphatec in a report on Thursday, August 1st. Lake Street Capital cut their price target on shares of Alphatec from $32.00 to $18.00 and set a “buy” rating on the stock in a report on Tuesday, September 3rd. Barclays initiated coverage on shares of Alphatec in a research note on Monday, July 8th. They issued an “overweight” rating and a $19.00 target price on the stock. Finally, Needham & Company LLC dropped their target price on shares of Alphatec from $23.00 to $13.00 and set a “buy” rating on the stock in a research note on Thursday, August 22nd. One analyst has rated the stock with a sell rating, one has issued a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $17.50.

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.