Seven Eight Capital LP Makes New Investment in Alphatec Holdings, Inc. (NASDAQ:ATEC)

Seven Eight Capital LP purchased a new position in Alphatec Holdings, Inc. (NASDAQ:ATEC) during the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 100,306 shares of the medical technology company’s stock, valued at approximately $1,383,000. Seven Eight Capital LP owned approximately 0.07% of Alphatec at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of ATEC. Vanguard Group Inc. raised its position in Alphatec by 1.8% in the third quarter. Vanguard Group Inc. now owns 4,615,223 shares of the medical technology company’s stock worth $59,859,000 after acquiring an additional 80,101 shares in the last quarter. SG Americas Securities LLC acquired a new stake in Alphatec during the 4th quarter worth about $316,000. Raymond James & Associates raised its holdings in Alphatec by 26.3% during the 4th quarter. Raymond James & Associates now owns 14,287 shares of the medical technology company’s stock worth $216,000 after buying an additional 2,975 shares during the period. Raymond James Financial Services Advisors Inc. acquired a new stake in Alphatec during the 4th quarter worth about $202,000. Finally, Perkins Capital Management Inc. raised its holdings in Alphatec by 7.3% during the 4th quarter. Perkins Capital Management Inc. now owns 184,867 shares of the medical technology company’s stock worth $2,793,000 after buying an additional 12,550 shares during the period. 66.35% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several analysts have issued reports on ATEC shares. Needham & Company LLC restated a “buy” rating and set a $23.00 price objective on shares of Alphatec in a report on Wednesday, May 8th. Stifel Nicolaus cut their price objective on Alphatec from $24.00 to $19.00 and set a “buy” rating on the stock in a report on Thursday, July 11th. Morgan Stanley cut their price objective on Alphatec from $19.00 to $16.00 and set an “overweight” rating on the stock in a report on Monday, July 15th. Piper Sandler cut their price objective on Alphatec from $19.00 to $17.00 and set an “overweight” rating on the stock in a report on Wednesday, May 8th. Finally, Barclays initiated coverage on Alphatec in a report on Monday, July 8th. They issued an “overweight” rating and a $19.00 target price on the stock. One investment analyst has rated the stock with a sell rating and nine have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Alphatec presently has a consensus rating of “Moderate Buy” and a consensus target price of $20.78.

Alphatec Stock Down 1.0 %

Shares of NASDAQ ATEC traded down $0.11 during trading hours on Wednesday, hitting $10.91. The stock had a trading volume of 1,253,773 shares, compared to its average volume of 1,586,834. The company has a market capitalization of $1.53 billion, a P/E ratio of -7.56 and a beta of 1.40. The firm’s 50-day moving average price is $10.52 and its two-hundred day moving average price is $12.89. Alphatec Holdings, Inc. has a 52 week low of $8.66 and a 52 week high of $18.32. The company has a debt-to-equity ratio of 13.63, a quick ratio of 1.49 and a current ratio of 2.39.

Alphatec (NASDAQ:ATEC) last announced its quarterly earnings results on Tuesday, May 7th. The medical technology company reported ($0.34) EPS for the quarter, missing the consensus estimate of ($0.33) by ($0.01). The firm had revenue of $138.48 million during the quarter, compared to the consensus estimate of $134.07 million. Alphatec had a negative net margin of 37.45% and a negative return on equity of 1,767.81%. The company’s quarterly revenue was up 26.9% compared to the same quarter last year. During the same period in the previous year, the firm posted ($0.40) EPS. Analysts anticipate that Alphatec Holdings, Inc. will post -1.04 EPS for the current fiscal year.

Insider Activity at Alphatec

In related news, General Counsel Tyson Eliot Marshall sold 50,232 shares of the business’s stock in a transaction that occurred on Wednesday, June 12th. The stock was sold at an average price of $10.88, for a total value of $546,524.16. Following the completion of the sale, the general counsel now owns 245,638 shares of the company’s stock, valued at approximately $2,672,541.44. The sale was disclosed in a document filed with the SEC, which is available at this link. 22.80% of the stock is currently owned by company insiders.

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.