Wrapmanager Inc. Has $367,000 Stock Position in Alphatec Holdings, Inc. (NASDAQ:ATEC)

Wrapmanager Inc. boosted its holdings in Alphatec Holdings, Inc. (NASDAQ:ATEC) by 104.5% during the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 35,074 shares of the medical technology company’s stock after acquiring an additional 17,920 shares during the quarter. Wrapmanager Inc.’s holdings in Alphatec were worth $367,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in ATEC. Swiss National Bank lifted its stake in Alphatec by 9.7% during the 4th quarter. Swiss National Bank now owns 185,700 shares of the medical technology company’s stock valued at $2,806,000 after acquiring an additional 16,400 shares in the last quarter. Amalgamated Bank grew its position in Alphatec by 7.3% in the 4th quarter. Amalgamated Bank now owns 9,720 shares of the medical technology company’s stock worth $147,000 after purchasing an additional 660 shares in the last quarter. Charles Schwab Investment Management Inc. increased its stake in Alphatec by 20.2% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 746,781 shares of the medical technology company’s stock valued at $11,284,000 after buying an additional 125,488 shares during the last quarter. Principal Financial Group Inc. lifted its position in shares of Alphatec by 87.1% during the 4th quarter. Principal Financial Group Inc. now owns 277,000 shares of the medical technology company’s stock worth $4,185,000 after buying an additional 128,938 shares in the last quarter. Finally, Trexquant Investment LP bought a new position in shares of Alphatec in the fourth quarter valued at approximately $1,142,000. Institutional investors and hedge funds own 66.35% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have weighed in on the company. Morgan Stanley cut Alphatec from an “overweight” rating to an “equal weight” rating in a research report on Thursday, August 1st. Canaccord Genuity Group reiterated a “buy” rating and issued a $20.00 target price on shares of Alphatec in a research note on Friday, August 30th. Stifel Nicolaus lowered their price target on shares of Alphatec from $19.00 to $16.00 and set a “buy” rating on the stock in a report on Thursday, August 1st. Needham & Company LLC decreased their target price on Alphatec from $23.00 to $13.00 and set a “buy” rating for the company in a research report on Thursday, August 22nd. Finally, Wells Fargo & Company dropped their price target on Alphatec from $26.00 to $19.00 and set an “overweight” rating on the stock in a research report on Thursday, August 1st. One analyst has rated the stock with a sell rating, one has issued a hold rating and nine have issued a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $17.50.

Insider Buying and Selling

In other Alphatec news, Director David M. Demski bought 50,000 shares of Alphatec stock in a transaction that occurred on Wednesday, August 21st. The stock was acquired at an average cost 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 $1,635,460.47. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 22.80% of the stock is currently owned by company insiders.

Alphatec Stock Up 2.0 %

ATEC stock opened at $5.59 on Friday. Alphatec Holdings, Inc. has a twelve month low of $5.28 and a twelve month high of $17.34. The firm has a market capitalization of $785.17 million, a PE ratio of -3.75 and a beta of 1.40. The company has a quick ratio of 1.21, a current ratio of 2.22 and a debt-to-equity ratio of 30.21. The stock has a 50-day simple moving average of $7.89 and a two-hundred day simple moving average of $10.58.

Alphatec (NASDAQ:ATEC) last posted its earnings results on Wednesday, July 31st. The medical technology company reported ($0.29) earnings per share for the quarter, missing analysts’ consensus estimates 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 firm had revenue of $145.57 million for the quarter, compared to the consensus estimate of $144.55 million. During the same period last year, the company posted ($0.43) EPS. The business’s revenue was up 24.5% on a year-over-year basis. On average, equities analysts predict that Alphatec Holdings, Inc. will post -1.08 EPS for the current fiscal year.

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.