First Eagle Investment Management LLC Takes $1.07 Million Position in Alphatec Holdings, Inc. (NASDAQ:ATEC)

First Eagle Investment Management LLC bought a new position in Alphatec Holdings, Inc. (NASDAQ:ATEC - Free Report) in the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor bought 102,500 shares of the medical technology company's stock, valued at approximately $1,071,000. First Eagle Investment Management LLC owned approximately 0.07% of Alphatec as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of the company. Hsbc Holdings PLC boosted its stake in shares of Alphatec by 130.1% during the second quarter. Hsbc Holdings PLC now owns 33,403 shares of the medical technology company's stock valued at $347,000 after purchasing an additional 18,888 shares in the last quarter. Envestnet Asset Management Inc. boosted its stake in shares of Alphatec by 5.8% during the second quarter. Envestnet Asset Management Inc. now owns 404,866 shares of the medical technology company's stock valued at $4,231,000 after purchasing an additional 22,047 shares in the last quarter. Wrapmanager Inc. lifted its stake in shares of Alphatec by 104.5% in the second quarter. Wrapmanager Inc. now owns 35,074 shares of the medical technology company's stock worth $367,000 after acquiring an additional 17,920 shares during the period. HBK Sorce Advisory LLC lifted its stake in shares of Alphatec by 370.4% in the second quarter. HBK Sorce Advisory LLC now owns 63,498 shares of the medical technology company's stock worth $664,000 after acquiring an additional 50,000 shares during the period. Finally, First Turn Management LLC lifted its stake in shares of Alphatec by 37.3% in the second quarter. First Turn Management LLC now owns 1,360,410 shares of the medical technology company's stock worth $14,216,000 after acquiring an additional 369,792 shares during the period. 66.35% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on the company. Canaccord Genuity Group reaffirmed a "buy" rating and issued a $20.00 price objective on shares of Alphatec in a research note on Friday, August 30th. Piper Sandler dropped their price target on Alphatec from $17.00 to $12.00 and set an "overweight" rating on the stock in a research note on Thursday, August 1st. Morgan Stanley lowered Alphatec from an "overweight" rating to an "equal weight" rating in a research note on Thursday, August 1st. HC Wainwright reissued a "buy" rating and issued a $20.00 price target on shares of Alphatec in a research note on Thursday, August 1st. Finally, Stifel Nicolaus dropped their price target on Alphatec from $19.00 to $16.00 and set a "buy" rating on the stock in a research note on Thursday, August 1st. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and nine have issued a buy rating to the company's stock. Based on data from MarketBeat, Alphatec has a consensus rating of "Moderate Buy" and a consensus price target of $17.50.

Alphatec Stock Down 2.9 %

Shares of NASDAQ ATEC traded down $0.18 during midday trading on Friday, hitting $6.03. 2,314,178 shares of the stock traded hands, compared to its average volume of 1,869,990. The company has a market cap of $843.50 million, a PE ratio of -4.05 and a beta of 1.40. Alphatec Holdings, Inc. has a one year low of $5.28 and a one year high of $17.34. The business has a 50 day moving average price of $7.40 and a two-hundred day moving average price of $10.29. 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 (NASDAQ:ATEC - Get Free Report) last announced its quarterly earnings results on Wednesday, July 31st. The medical technology company reported ($0.29) earnings per share (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 company had revenue of $145.57 million for the quarter, compared to the consensus estimate of $144.55 million. During the same quarter last year, the company posted ($0.43) EPS. The company's quarterly revenue was up 24.5% compared to the same quarter last year. On average, equities analysts predict that Alphatec Holdings, Inc. will post -1.08 EPS for the current year.

Insider Buying and Selling

In related news, Director David M. Demski purchased 50,000 shares of the firm's stock in a transaction that occurred on Wednesday, August 21st. The stock was acquired at an average price of $5.67 per share, for a total transaction of $283,500.00. Following the completion of the acquisition, the director now owns 288,441 shares of the company's stock, valued at approximately $1,635,460.47. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 22.80% of the stock is currently owned by corporate insiders.

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.