Fred Alger Management LLC Purchases 21,078 Shares of Alphatec Holdings, Inc. (NASDAQ:ATEC)

Fred Alger Management LLC lifted its position in shares of Alphatec Holdings, Inc. (NASDAQ:ATEC) by 0.8% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 2,638,303 shares of the medical technology company’s stock after purchasing an additional 21,078 shares during the period. Fred Alger Management LLC owned 1.89% of Alphatec worth $27,570,000 at the end of the most recent quarter.

A number of other large investors also recently made changes to their positions in the company. First Light Asset Management LLC lifted its position in shares of 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 worth $90,310,000 after buying an additional 2,943,310 shares in the last quarter. Vanguard Group Inc. increased its position in shares of Alphatec by 1.2% during the first quarter. Vanguard Group Inc. now owns 5,458,847 shares of the medical technology company’s stock valued at $75,278,000 after acquiring an additional 64,648 shares during the last quarter. Point72 Asset Management L.P. lifted its holdings in Alphatec by 65.2% during the second quarter. Point72 Asset Management L.P. now owns 3,192,789 shares of the medical technology company’s stock worth $33,365,000 after acquiring an additional 1,260,137 shares during the period. BNP PARIBAS ASSET MANAGEMENT Holding S.A. boosted its position in Alphatec by 23.8% in the second quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 2,630,244 shares of the medical technology company’s stock worth $27,486,000 after purchasing an additional 505,202 shares during the last quarter. Finally, Intrinsic Edge Capital Management LLC grew its stake in Alphatec by 72.2% in 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 purchasing an additional 670,788 shares during the period. 66.35% of the stock is owned by institutional investors.

Alphatec Stock Up 0.5 %

Shares of NASDAQ:ATEC opened at $5.59 on Wednesday. The firm has a fifty day moving average price of $7.16 and a two-hundred day moving average price of $10.17. The company has a market cap of $781.95 million, a price-to-earnings ratio of -3.75 and a beta of 1.40. The company has a debt-to-equity ratio of 30.21, a current ratio of 2.22 and a quick ratio of 1.21. Alphatec Holdings, Inc. has a one year low of $5.28 and a one year high of $17.34.

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

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on the company. HC Wainwright reiterated a “buy” rating and set a $20.00 target price on shares of Alphatec in a research note on Thursday, August 1st. Stifel Nicolaus dropped their target price on shares of Alphatec from $19.00 to $16.00 and set a “buy” rating on the stock in a research note on Thursday, August 1st. Barclays began coverage on shares of Alphatec in a research note on Monday, July 8th. They set an “overweight” rating and a $19.00 price target for the company. Lake Street Capital cut their price target on Alphatec from $32.00 to $18.00 and set a “buy” rating for the company in a research note on Tuesday, September 3rd. Finally, Morgan Stanley lowered shares of Alphatec from an “overweight” rating to an “equal weight” rating in a research report on Thursday, August 1st. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and nine have given a buy rating to the company’s stock. According to data from MarketBeat.com, Alphatec has an average rating of “Moderate Buy” and an average target price of $17.50.

Insider Transactions at Alphatec

In related news, Director David M. Demski bought 50,000 shares of the company’s stock in a transaction on Wednesday, August 21st. The stock was acquired at an average cost of $5.67 per share, for a total transaction of $283,500.00. Following the completion of the transaction, the director now directly owns 288,441 shares in the company, valued at approximately $1,635,460.47. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 22.80% of the stock is owned by insiders.

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.