Creative Planning Acquires 14,007 Shares of Alphatec Holdings, Inc. (NASDAQ:ATEC)

Creative Planning increased its stake in Alphatec Holdings, Inc. (NASDAQ:ATEC) by 112.7% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 26,440 shares of the medical technology company’s stock after purchasing an additional 14,007 shares during the period. Creative Planning’s holdings in Alphatec were worth $276,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Point72 Asset Management L.P. grew its stake in Alphatec by 65.2% in the 2nd quarter. Point72 Asset Management L.P. now owns 3,192,789 shares of the medical technology company’s stock worth $33,365,000 after buying an additional 1,260,137 shares in the last quarter. Magnetar Financial LLC purchased a new position in Alphatec in the second quarter worth $10,957,000. Goldman Sachs Group Inc. increased its stake in Alphatec by 93.9% in the fourth quarter. Goldman Sachs Group Inc. now owns 1,451,499 shares of the medical technology company’s stock valued at $21,932,000 after acquiring an additional 702,950 shares during the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. raised its position in Alphatec by 48.1% during the first quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 2,125,042 shares of the medical technology company’s stock valued at $29,305,000 after purchasing an additional 690,022 shares in the last quarter. Finally, Norden Group LLC lifted its stake 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 purchasing an additional 394,763 shares during the last quarter. 66.35% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on the company. Wells Fargo & Company decreased their price objective on Alphatec from $26.00 to $19.00 and set an “overweight” rating on the stock in a report on Thursday, August 1st. Canaccord Genuity Group restated a “buy” rating and issued a $20.00 price objective on shares of Alphatec in a report on Friday, August 30th. Piper Sandler reduced their target price on shares of Alphatec from $17.00 to $12.00 and set an “overweight” rating on the stock in a report 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 reduced their price objective 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 research analyst has rated the stock with a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $17.50.

Alphatec Stock Down 0.7 %

NASDAQ ATEC opened at $5.67 on Friday. The business’s 50-day moving average is $5.85 and its 200 day moving average is $9.19. The stock has a market capitalization of $793.14 million, a PE ratio of -3.81 and a beta of 1.39. The company has a debt-to-equity ratio of 30.21, a current ratio of 2.22 and a quick ratio of 1.21. Alphatec Holdings, Inc. has a 1 year low of $4.88 and a 1 year high of $17.34.

Alphatec (NASDAQ:ATEC) last announced its earnings results 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 business had revenue of $145.57 million for the quarter, compared to the consensus estimate of $144.55 million. Alphatec had a negative net margin of 33.48% and a negative return on equity of 816.57%. Alphatec’s revenue was up 24.5% compared to the same quarter last year. During the same quarter in the prior year, the company earned ($0.43) EPS. Sell-side analysts forecast that Alphatec Holdings, Inc. will post -1.08 earnings per share for the current year.

Insider Activity

In other news, Director David M. Demski bought 50,000 shares of the firm’s stock in a transaction dated 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 of the company’s stock, valued at approximately $1,635,460.47. The trade was a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 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.