Envestnet Asset Management Inc. Boosts Stock Position in Alphatec Holdings, Inc. (NASDAQ:ATEC)

Envestnet Asset Management Inc. grew its position in shares of Alphatec Holdings, Inc. (NASDAQ:ATEC) by 5.8% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 404,866 shares of the medical technology company’s stock after purchasing an additional 22,047 shares during the quarter. Envestnet Asset Management Inc. owned approximately 0.29% of Alphatec worth $4,231,000 as of its most recent filing with the SEC.

Several other hedge funds also recently made changes to their positions in the company. Van ECK Associates Corp grew its holdings in shares of 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. ProShare Advisors LLC grew its holdings in shares of Alphatec by 8.5% during the first quarter. ProShare Advisors LLC now owns 16,572 shares of the medical technology company’s stock worth $229,000 after purchasing an additional 1,304 shares during the last quarter. Bayesian Capital Management LP grew its holdings in shares of Alphatec by 5.6% during the first quarter. Bayesian Capital Management LP now owns 27,000 shares of the medical technology company’s stock worth $372,000 after purchasing an additional 1,442 shares during the last quarter. Cetera Advisors LLC grew its holdings in shares of 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. Finally, Bridgefront Capital LLC grew its holdings in shares of Alphatec by 10.3% during the fourth quarter. Bridgefront Capital LLC now owns 22,846 shares of the medical technology company’s stock worth $345,000 after purchasing an additional 2,128 shares during the last quarter. Hedge funds and other institutional investors own 66.35% of the company’s stock.

Insider Activity at Alphatec

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

Wall Street Analyst Weigh In

A number of brokerages recently commented on ATEC. Wells Fargo & Company reduced their price objective on shares of Alphatec from $26.00 to $19.00 and set an “overweight” rating for the company in a research report on Thursday, August 1st. Barclays assumed coverage on shares of Alphatec in a research report on Monday, July 8th. They issued an “overweight” rating and a $19.00 price objective for the company. Piper Sandler reduced their price target on shares of Alphatec from $17.00 to $12.00 and set an “overweight” rating for the company in a research report on Thursday, August 1st. Needham & Company LLC reduced their price target on shares of Alphatec from $23.00 to $13.00 and set a “buy” rating for the company in a research report on Thursday, August 22nd. Finally, Lake Street Capital reduced their price target on shares of Alphatec from $32.00 to $18.00 and set a “buy” rating for the company in a research report on Tuesday, September 3rd. One investment analyst has rated the stock with a sell rating, one has given a hold rating and nine have given a buy rating to the stock. According to MarketBeat.com, Alphatec has an average rating of “Moderate Buy” and an average target price of $17.50.

Alphatec Price Performance

Shares of NASDAQ:ATEC opened at $5.27 on Wednesday. Alphatec Holdings, Inc. has a fifty-two week low of $5.18 and a fifty-two 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 company has a market cap of $737.19 million, a PE ratio of -3.56 and a beta of 1.40. The firm has a 50-day simple moving average of $6.71 and a 200 day simple moving average of $9.94.

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