King Luther Capital Management Corp Acquires 136,492 Shares of Alphatec Holdings, Inc. (NASDAQ:ATEC)

King Luther Capital Management Corp boosted its holdings in shares of Alphatec Holdings, Inc. (NASDAQ:ATEC) by 14.7% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,062,720 shares of the medical technology company’s stock after acquiring an additional 136,492 shares during the quarter. King Luther Capital Management Corp owned 0.76% of Alphatec worth $11,105,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in ATEC. First Light Asset Management LLC raised its position in shares of Alphatec by 97.0% during the fourth quarter. First Light Asset Management LLC now owns 5,976,851 shares of the medical technology company’s stock worth $90,310,000 after acquiring an additional 2,943,310 shares during the last quarter. Artisan Partners Limited Partnership bought a new position in Alphatec during the 4th quarter worth approximately $19,050,000. Goldman Sachs Group Inc. lifted its position in shares of Alphatec by 93.9% in the 4th 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 period. BNP PARIBAS ASSET MANAGEMENT Holding S.A. boosted its stake in shares of Alphatec by 48.1% in the 1st 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 during the last quarter. Finally, Intrinsic Edge Capital Management LLC increased its position in shares of Alphatec by 72.2% during the fourth quarter. Intrinsic Edge Capital Management LLC now owns 1,599,849 shares of the medical technology company’s stock worth $24,174,000 after buying an additional 670,788 shares during the period. 66.35% of the stock is currently owned by institutional investors and hedge funds.

Alphatec Price Performance

Shares of ATEC opened at $6.03 on Friday. The stock has a market cap of $843.50 million, a P/E ratio of -4.05 and a beta of 1.40. The business’s fifty day moving average is $7.40 and its 200 day moving average is $10.31. The company has a quick ratio of 1.21, a current ratio of 2.22 and a debt-to-equity ratio of 30.21. Alphatec Holdings, Inc. has a 12-month low of $5.28 and a 12-month high of $17.34.

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). Alphatec had a negative net margin of 33.48% and a negative return on equity of 816.57%. The business had revenue of $145.57 million for the quarter, compared to analyst estimates of $144.55 million. During the same quarter in the prior year, the business earned ($0.43) earnings per share. The firm’s quarterly revenue was up 24.5% compared to the same quarter last year. Sell-side analysts anticipate that Alphatec Holdings, Inc. will post -1.08 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, Director David M. Demski bought 50,000 shares of the business’s stock in a transaction that occurred on Wednesday, August 21st. The shares were bought at an average price of $5.67 per share, with a total value of $283,500.00. Following the completion of the transaction, the director now directly owns 288,441 shares in the company, valued at $1,635,460.47. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 22.80% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have commented on the stock. HC Wainwright reaffirmed a “buy” rating and set a $20.00 price target on shares of Alphatec in a research report on Thursday, August 1st. Lake Street Capital cut their target price on Alphatec from $32.00 to $18.00 and set a “buy” rating on the stock in a research report on Tuesday, September 3rd. Morgan Stanley downgraded Alphatec from an “overweight” rating to an “equal weight” rating in a report on Thursday, August 1st. Canaccord Genuity Group restated a “buy” rating and set a $20.00 price target on shares of Alphatec in a report on Friday, August 30th. Finally, Needham & Company LLC lowered their price objective on shares of Alphatec from $23.00 to $13.00 and set a “buy” rating for the company in a research note on Thursday, August 22nd. One investment analyst has rated the stock with a sell rating, one has given a hold rating and nine have assigned a buy rating to the company’s stock. According to data from MarketBeat, Alphatec has an average rating of “Moderate Buy” and a consensus target price of $17.50.

Alphatec Company 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.