Seven Eight Capital LP Buys Shares of 100,306 Alphatec Holdings, Inc. (NASDAQ:ATEC)

Seven Eight Capital LP bought a new stake in Alphatec Holdings, Inc. (NASDAQ:ATEC) during the 1st quarter, Holdings Channel.com reports. The firm bought 100,306 shares of the medical technology company’s stock, valued at approximately $1,383,000.

Other institutional investors have also recently bought and sold shares of the company. Tidemark LLC bought a new stake in Alphatec in the 4th quarter valued at approximately $137,000. Amalgamated Bank raised its stake in shares of Alphatec by 7.3% during 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. Clear Rock Advisors LLC bought a new stake in shares of Alphatec during the 4th quarter worth approximately $179,000. Raymond James Financial Services Advisors Inc. bought a new stake in shares of Alphatec during the 4th quarter worth approximately $202,000. Finally, Focus Financial Network Inc. ADV bought a new stake in shares of Alphatec during the 4th quarter worth approximately $207,000. Institutional investors own 66.35% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on ATEC. Needham & Company LLC reiterated a “buy” rating and set a $23.00 price objective on shares of Alphatec in a research note on Wednesday, May 8th. Stifel Nicolaus dropped their price objective on Alphatec from $24.00 to $19.00 and set a “buy” rating on the stock in a research note on Thursday, July 11th. Piper Sandler decreased their target price on Alphatec from $19.00 to $17.00 and set an “overweight” rating on the stock in a report on Wednesday, May 8th. Barclays initiated coverage on Alphatec in a report on Monday, July 8th. They set an “overweight” rating and a $19.00 target price on the stock. Finally, Morgan Stanley decreased their target price on Alphatec from $19.00 to $16.00 and set an “overweight” rating on the stock in a report on Monday, July 15th. One equities research analyst has rated the stock with a sell rating and nine have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $20.78.

Insider Buying and Selling at Alphatec

In other Alphatec news, General Counsel Tyson Eliot Marshall sold 50,232 shares of the company’s stock in a transaction 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 transaction, the general counsel now directly owns 245,638 shares of the company’s stock, valued at approximately $2,672,541.44. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 22.80% of the company’s stock.

Alphatec Stock Performance

NASDAQ ATEC traded down $0.11 on Wednesday, reaching $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 debt-to-equity ratio of 13.63, a current ratio of 2.39 and a quick ratio of 1.49. The firm has a fifty day moving average of $10.52 and a two-hundred day moving average of $12.89. Alphatec Holdings, Inc. has a 1-year low of $8.66 and a 1-year high of $18.32. The company has a market cap of $1.53 billion, a P/E ratio of -7.56 and a beta of 1.40.

Alphatec (NASDAQ:ATEC) last issued its quarterly earnings data on Tuesday, May 7th. The medical technology company reported ($0.34) EPS for the quarter, missing analysts’ consensus estimates of ($0.33) by ($0.01). Alphatec had a negative net margin of 37.45% and a negative return on equity of 1,767.81%. The firm had revenue of $138.48 million during the quarter, compared to analyst estimates of $134.07 million. During the same period in the prior year, the company earned ($0.40) earnings per share. The business’s quarterly revenue was up 26.9% compared to the same quarter last year. On average, equities research analysts anticipate that Alphatec Holdings, Inc. will post -1.04 EPS for the current year.

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.