The Manufacturers Life Insurance Company Acquires 4,755 Shares of Alphatec Holdings, Inc. (NASDAQ:ATEC)

The Manufacturers Life Insurance Company raised its holdings in shares of Alphatec Holdings, Inc. (NASDAQ:ATEC) by 8.9% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 58,257 shares of the medical technology company’s stock after acquiring an additional 4,755 shares during the period. The Manufacturers Life Insurance Company’s holdings in Alphatec were worth $609,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of ATEC. Goldman Sachs Group Inc. grew its position 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 valued at $21,932,000 after acquiring an additional 702,950 shares during the last quarter. Nomura Holdings Inc. bought a new position in Alphatec during the fourth quarter valued at approximately $225,000. Congress Asset Management Co. MA bought a new position in Alphatec during the first quarter valued at approximately $1,829,000. Norden Group LLC boosted its stake in shares of Alphatec by 1,012.2% during the first quarter. Norden Group LLC now owns 433,764 shares of the medical technology company’s stock valued at $5,982,000 after purchasing an additional 394,763 shares during the period. Finally, Insight Folios Inc purchased a new stake in shares of Alphatec during the first quarter valued at approximately $192,000. 66.35% of the stock is currently owned by institutional investors.

Insider Activity

In related news, Director David M. Demski purchased 50,000 shares of Alphatec stock in a transaction dated Wednesday, August 21st. The stock was purchased at an average cost of $5.67 per share, for a total transaction of $283,500.00. Following the completion of the acquisition, the director now directly owns 288,441 shares of the company’s stock, valued at $1,635,460.47. The trade was a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Corporate insiders own 22.80% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on the company. Morgan Stanley lowered Alphatec from an “overweight” rating to an “equal weight” rating in a research note on Thursday, August 1st. Canaccord Genuity Group reissued a “buy” rating and set a $20.00 price objective on shares of Alphatec in a research note on Friday, August 30th. HC Wainwright reaffirmed a “buy” rating and issued a $20.00 price target on shares of Alphatec in a research note on Thursday, August 1st. Stifel Nicolaus dropped their price target on Alphatec from $19.00 to $16.00 and set a “buy” rating for the company in a research note on Thursday, August 1st. Finally, Lake Street Capital dropped 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. One investment analyst has rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $17.50.

Alphatec Stock Performance

Shares of Alphatec stock opened at $5.30 on Wednesday. The company has a current ratio of 2.22, a quick ratio of 1.21 and a debt-to-equity ratio of 30.21. The firm has a market capitalization of $741.39 million, a P/E ratio of -3.56 and a beta of 1.39. The business has a fifty day simple moving average of $5.90 and a two-hundred day simple moving average of $9.36. Alphatec Holdings, Inc. has a 12 month low of $4.88 and a 12 month high of $17.34.

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

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.