Net Worth Advisory Group Buys New Position in Alphatec Holdings, Inc. (NASDAQ:ATEC)

Net Worth Advisory Group purchased a new position in shares of Alphatec Holdings, Inc. (NASDAQ:ATEC) in the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor purchased 13,660 shares of the medical technology company’s stock, valued at approximately $76,000.

Other hedge funds also recently made changes to their positions in the company. Goldman Sachs Group Inc. boosted its holdings 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 worth $21,932,000 after purchasing an additional 702,950 shares during the last quarter. Nomura Holdings Inc. acquired a new stake in shares of Alphatec in the fourth quarter valued at about $225,000. Norden Group LLC raised its holdings in Alphatec by 1,012.2% during the first quarter. Norden Group LLC now owns 433,764 shares of the medical technology company’s stock worth $5,982,000 after acquiring an additional 394,763 shares in the last quarter. Insight Folios Inc acquired a new position in Alphatec during the first quarter valued at approximately $192,000. Finally, Principal Financial Group Inc. grew its stake in Alphatec by 15.7% in the first quarter. Principal Financial Group Inc. now owns 320,530 shares of the medical technology company’s stock valued at $4,420,000 after purchasing an additional 43,530 shares in the last quarter. 66.35% of the stock is owned by institutional investors.

Analysts Set New Price Targets

ATEC has been the subject of several recent analyst reports. Needham & Company LLC cut their price objective on Alphatec from $23.00 to $13.00 and set a “buy” rating for the company in a report on Thursday, August 22nd. Stifel Nicolaus lowered 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. Barclays assumed coverage on shares of Alphatec in a research note on Monday, July 8th. They issued an “overweight” rating and a $19.00 target price for the company. Morgan Stanley downgraded Alphatec from an “overweight” rating to an “equal weight” rating in a research report on Thursday, August 1st. Finally, Piper Sandler cut their price objective on Alphatec from $17.00 to $12.00 and set an “overweight” rating for the company in a research report on Thursday, August 1st. One analyst has rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $17.00.

Alphatec Stock Down 5.5 %

Shares of ATEC opened at $5.36 on Tuesday. The company has a current ratio of 2.22, a quick ratio of 1.21 and a debt-to-equity ratio of 30.21. Alphatec Holdings, Inc. has a 12 month low of $4.88 and a 12 month high of $17.34. The firm’s 50 day moving average is $5.83 and its 200-day moving average is $9.07. The stock has a market capitalization of $749.78 million, a PE ratio of -3.60 and a beta of 1.39.

Alphatec (NASDAQ:ATEC) last posted 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 company had revenue of $145.57 million for the quarter, compared to the consensus estimate of $144.55 million. Alphatec had a negative return on equity of 816.57% and a negative net margin of 33.48%. Alphatec’s revenue was up 24.5% on a year-over-year basis. During the same quarter last year, the business earned ($0.43) EPS. Equities research analysts forecast that Alphatec Holdings, Inc. will post -1.08 EPS for the current year.

Insider Activity

In other Alphatec news, Director David M. Demski bought 50,000 shares of the firm’s stock in a transaction on Wednesday, August 21st. The shares were purchased at an average price 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 trade was a 0.00 % increase in their position. The transaction was disclosed in a document filed with the SEC, which is available through this link. Corporate insiders own 22.80% of the company’s stock.

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.