Alphatec Holdings, Inc. (NASDAQ:ATEC) Shares Sold by First Light Asset Management LLC

First Light Asset Management LLC lowered its position in shares of Alphatec Holdings, Inc. (NASDAQ:ATEC) by 1.7% in the second quarter, according to its most recent 13F filing with the SEC. The firm owned 5,327,978 shares of the medical technology company’s stock after selling 90,653 shares during the quarter. Alphatec comprises approximately 4.9% of First Light Asset Management LLC’s holdings, making the stock its 2nd largest holding. First Light Asset Management LLC owned approximately 3.81% of Alphatec worth $55,677,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. Comerica Bank lifted its stake in shares of Alphatec by 64.8% during the first quarter. Comerica Bank now owns 6,443 shares of the medical technology company’s stock worth $89,000 after purchasing an additional 2,534 shares in the last quarter. EntryPoint Capital LLC purchased a new position in Alphatec in the 1st quarter worth approximately $141,000. Clear Rock Advisors LLC purchased a new stake in shares of Alphatec during the fourth quarter valued at approximately $179,000. Van ECK Associates Corp lifted its position 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 in the last quarter. Finally, Cetera Advisors LLC boosted its stake in shares of Alphatec by 15.6% in the first quarter. Cetera Advisors LLC now owns 12,720 shares of the medical technology company’s stock valued at $175,000 after purchasing an additional 1,720 shares during the period. Hedge funds and other institutional investors own 66.35% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have commented on ATEC shares. Canaccord Genuity Group reiterated a “buy” rating and issued a $20.00 price objective on shares of Alphatec in a report on Friday, August 30th. HC Wainwright reissued a “buy” rating and issued a $20.00 price target on shares of Alphatec in a report on Thursday, August 1st. Needham & Company LLC dropped their price objective on Alphatec from $23.00 to $13.00 and set a “buy” rating on the stock in a report on Thursday, August 22nd. Piper Sandler reduced their target price on Alphatec from $17.00 to $12.00 and set an “overweight” rating for the company in a research note on Thursday, August 1st. Finally, Lake Street Capital dropped their price target on shares of Alphatec from $32.00 to $18.00 and set a “buy” rating for the company in a research note on Tuesday, September 3rd. 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 stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $17.50.

Insider Activity

In related news, Director David M. Demski acquired 50,000 shares of Alphatec stock in a transaction that occurred on Wednesday, August 21st. The stock was acquired at an average price of $5.67 per share, with a total value 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 approximately $1,635,460.47. 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.

Alphatec Trading Down 7.8 %

Alphatec stock opened at $5.56 on Tuesday. 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 Holdings, Inc. has a 1 year low of $5.28 and a 1 year high of $17.34. The firm’s 50-day moving average is $7.29 and its 200-day moving average is $10.22. The company has a market cap of $777.76 million, a P/E ratio of -3.73 and a beta of 1.40.

Alphatec (NASDAQ:ATEC) last issued its quarterly earnings data on Wednesday, July 31st. The medical technology company reported ($0.29) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.26) by ($0.03). The business had revenue of $145.57 million during 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%. The business’s quarterly revenue was up 24.5% compared to the same quarter last year. During the same period last year, the company earned ($0.43) earnings per share. On average, equities analysts expect that Alphatec Holdings, Inc. will post -1.08 earnings per share 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.