First Eagle Investment Management LLC Buys 176,402 Shares of Alphatec Holdings, Inc. (NASDAQ:ATEC)

First Eagle Investment Management LLC grew its stake in shares of Alphatec Holdings, Inc. (NASDAQ:ATEC) by 36.6% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 658,437 shares of the medical technology company’s stock after buying an additional 176,402 shares during the period. First Eagle Investment Management LLC owned approximately 0.46% of Alphatec worth $6,044,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. State Street Corp raised its position in shares of Alphatec by 10.1% during the third quarter. State Street Corp now owns 3,138,960 shares of the medical technology company’s stock worth $17,453,000 after purchasing an additional 287,350 shares during the period. BNP PARIBAS ASSET MANAGEMENT Holding S.A. raised its position in shares of Alphatec by 11.3% during the third quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 2,928,094 shares of the medical technology company’s stock worth $16,280,000 after purchasing an additional 297,850 shares during the period. Royce & Associates LP raised its position in shares of Alphatec by 15.9% during the third quarter. Royce & Associates LP now owns 1,212,286 shares of the medical technology company’s stock worth $6,740,000 after purchasing an additional 165,954 shares during the period. New York State Common Retirement Fund raised its position in shares of Alphatec by 21.2% during the fourth quarter. New York State Common Retirement Fund now owns 1,202,334 shares of the medical technology company’s stock worth $11,037,000 after purchasing an additional 210,519 shares during the period. Finally, Walleye Capital LLC raised its position in Alphatec by 3.2% in the 3rd quarter. Walleye Capital LLC now owns 1,061,462 shares of the medical technology company’s stock valued at $5,902,000 after buying an additional 32,529 shares during the last quarter. Institutional investors own 66.35% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on ATEC. Piper Sandler lifted their target price on Alphatec from $12.00 to $13.00 and gave the company an “overweight” rating in a research report on Thursday, February 27th. StockNews.com raised Alphatec from a “sell” rating to a “hold” rating in a research report on Friday, February 28th. Needham & Company LLC reissued a “buy” rating and issued a $16.00 target price on shares of Alphatec in a research report on Thursday, February 27th. HC Wainwright reissued a “buy” rating and issued a $20.00 target price on shares of Alphatec in a research report on Tuesday, January 14th. Finally, Barclays lifted their target price on Alphatec from $20.00 to $21.00 and gave the company an “overweight” rating in a research report on Wednesday, January 22nd. Two equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $17.67.

Insider Transactions at Alphatec

In other news, CEO Patrick Miles sold 12,691 shares of Alphatec stock in a transaction that occurred on Friday, March 7th. The stock was sold at an average price of $10.64, for a total transaction of $135,032.24. Following the completion of the transaction, the chief executive officer now directly owns 5,857,603 shares in the company, valued at approximately $62,324,895.92. The trade was a 0.22 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP David Sponsel sold 58,283 shares of Alphatec stock in a transaction that occurred on Monday, January 13th. The stock was sold at an average price of $10.71, for a total value of $624,210.93. Following the transaction, the executive vice president now owns 502,311 shares of the company’s stock, valued at $5,379,750.81. This represents a 10.40 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 337,321 shares of company stock worth $3,828,060. 22.80% of the stock is owned by company insiders.

Alphatec Stock Up 0.2 %

ATEC stock opened at $9.29 on Friday. The company has a quick ratio of 1.15, a current ratio of 2.32 and a debt-to-equity ratio of 30.21. Alphatec Holdings, Inc. has a twelve month low of $4.88 and a twelve month high of $14.88. The business has a 50 day moving average price of $10.95 and a two-hundred day moving average price of $8.74. The company has a market cap of $1.34 billion, a price-to-earnings ratio of -7.26 and a beta of 1.39.

Alphatec (NASDAQ:ATEC) last issued its earnings results on Wednesday, February 26th. The medical technology company reported ($0.23) EPS for the quarter, missing the consensus estimate of ($0.19) by ($0.04). Alphatec had a negative return on equity of 541.39% and a negative net margin of 31.06%. The business had revenue of $176.79 million for the quarter, compared to the consensus estimate of $172.74 million. Analysts anticipate that Alphatec Holdings, Inc. will post -1.08 EPS for the current fiscal year.

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.