Hsbc Holdings PLC Grows Stake in Alphatec Holdings, Inc. (NASDAQ:ATEC)

Hsbc Holdings PLC grew its holdings in Alphatec Holdings, Inc. (NASDAQ:ATEC) by 130.1% during the second quarter, HoldingsChannel reports. The fund owned 33,403 shares of the medical technology company’s stock after purchasing an additional 18,888 shares during the period. Hsbc Holdings PLC’s holdings in Alphatec were worth $347,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in the business. First Light Asset Management LLC grew its stake in 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 during the last quarter. Vanguard Group Inc. lifted its position in Alphatec by 1.2% during the 1st quarter. Vanguard Group Inc. now owns 5,458,847 shares of the medical technology company’s stock worth $75,278,000 after acquiring an additional 64,648 shares during the period. BNP PARIBAS ASSET MANAGEMENT Holding S.A. lifted its position in Alphatec by 23.8% during the 2nd 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 acquiring an additional 505,202 shares during the period. Intrinsic Edge Capital Management LLC lifted its position in Alphatec by 72.2% during the 4th quarter. Intrinsic Edge Capital Management LLC now owns 1,599,849 shares of the medical technology company’s stock worth $24,174,000 after acquiring an additional 670,788 shares during the period. Finally, Goldman Sachs Group Inc. lifted its position in Alphatec by 93.9% during the 4th quarter. Goldman Sachs Group Inc. now owns 1,451,499 shares of the medical technology company’s stock worth $21,932,000 after acquiring an additional 702,950 shares during the period. Hedge funds and other institutional investors own 66.35% of the company’s stock.

Insider Activity

In other Alphatec news, Director David M. Demski acquired 50,000 shares of the stock in a transaction dated Wednesday, August 21st. The stock was acquired at an average price of $5.67 per share, with a total value of $283,500.00. Following the completion of the transaction, the director now directly owns 288,441 shares in the company, valued at $1,635,460.47. The purchase was disclosed in a document filed with the SEC, which is accessible through the SEC website. Company insiders own 22.80% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on ATEC. Barclays began coverage on Alphatec in a research report on Monday, July 8th. They set an “overweight” rating and a $19.00 price objective for the company. Morgan Stanley cut Alphatec from an “overweight” rating to an “equal weight” rating in a research report on Thursday, August 1st. Stifel Nicolaus decreased their price objective on Alphatec from $19.00 to $16.00 and set a “buy” rating for the company in a research report on Thursday, August 1st. Lake Street Capital decreased their price objective on Alphatec from $32.00 to $18.00 and set a “buy” rating for the company in a research report on Tuesday, September 3rd. Finally, Piper Sandler reduced their price target on Alphatec from $17.00 to $12.00 and set an “overweight” rating for the company in a report on Thursday, August 1st. One research analyst has rated the stock with a sell rating, one has issued a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat, Alphatec currently has a consensus rating of “Moderate Buy” and an average target price of $17.50.

Alphatec Stock Performance

Alphatec stock opened at $5.25 on Thursday. The company has a market capitalization of $734.39 million, a price-to-earnings ratio of -3.52 and a beta of 1.40. The company has a debt-to-equity ratio of 30.21, a quick ratio of 1.21 and a current ratio of 2.22. Alphatec Holdings, Inc. has a fifty-two week low of $5.07 and a fifty-two week high of $17.34. The stock has a fifty day moving average of $6.59 and a two-hundred day moving average of $9.89.

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

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.