Rhumbline Advisers Purchases 3,676 Shares of Alphatec Holdings, Inc. (NASDAQ:ATEC)

Rhumbline Advisers increased its position in shares of Alphatec Holdings, Inc. (NASDAQ:ATEC) by 2.6% in the 2nd quarter, HoldingsChannel reports. The fund owned 143,474 shares of the medical technology company’s stock after acquiring an additional 3,676 shares during the period. Rhumbline Advisers’ holdings in Alphatec were worth $1,499,000 as of its most recent SEC filing.

A number of other hedge funds have also bought and sold shares of ATEC. Comerica Bank boosted its holdings in shares of Alphatec by 64.8% in the 1st quarter. Comerica Bank now owns 6,443 shares of the medical technology company’s stock valued at $89,000 after acquiring an additional 2,534 shares during the last quarter. EntryPoint Capital LLC acquired a new stake in shares of Alphatec in the first quarter valued at about $141,000. Clear Rock Advisors LLC acquired a new stake in shares of Alphatec in the fourth quarter valued at about $179,000. Van ECK Associates Corp increased its position in Alphatec by 11.8% during the second quarter. Van ECK Associates Corp now owns 12,275 shares of the medical technology company’s stock worth $128,000 after purchasing an additional 1,300 shares during the last quarter. Finally, Cetera Advisors LLC increased its position in Alphatec by 15.6% during the first quarter. Cetera Advisors LLC now owns 12,720 shares of the medical technology company’s stock worth $175,000 after purchasing an additional 1,720 shares during the last quarter. Institutional investors and hedge funds own 66.35% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have weighed in on ATEC. Piper Sandler lowered their target price on shares of Alphatec from $17.00 to $12.00 and set an “overweight” rating for the company in a research note on Thursday, August 1st. Barclays started coverage on shares of Alphatec in a report on Monday, July 8th. They set an “overweight” rating and a $19.00 price objective on the stock. Needham & Company LLC cut their price objective on shares of Alphatec from $23.00 to $13.00 and set a “buy” rating on the stock in a report on Thursday, August 22nd. Canaccord Genuity Group reaffirmed a “buy” rating and issued a $20.00 target price on shares of Alphatec in a report on Friday, August 30th. Finally, Stifel Nicolaus dropped their price objective 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. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $17.50.

Insider Activity

In other Alphatec news, Director David M. Demski bought 50,000 shares of the company’s stock in a transaction that occurred on Wednesday, August 21st. The stock was purchased at an average price of $5.67 per share, with a total value of $283,500.00. Following the transaction, the director now owns 288,441 shares in the company, valued at $1,635,460.47. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Corporate insiders own 22.80% of the company’s stock.

Alphatec Price Performance

Alphatec stock opened at $6.03 on Friday. Alphatec Holdings, Inc. has a 52 week low of $5.28 and a 52 week high of $17.34. 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’s 50-day simple moving average is $7.40 and its 200 day simple moving average is $10.29. The firm has a market capitalization of $843.50 million, a PE ratio of -4.05 and a beta of 1.40.

Alphatec (NASDAQ:ATEC) last announced its 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 firm had revenue of $145.57 million during the quarter, compared to analyst estimates of $144.55 million. During the same period in the previous year, the firm posted ($0.43) EPS. The company’s revenue for the quarter was up 24.5% compared to the same quarter last year. On average, equities research analysts predict that Alphatec Holdings, Inc. will post -1.08 EPS for the current fiscal year.

About Alphatec

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.