Driehaus Capital Management LLC Reduces Position in Alphatec Holdings, Inc. (NASDAQ:ATEC)

Driehaus Capital Management LLC decreased its holdings in Alphatec Holdings, Inc. (NASDAQ:ATEC) by 82.7% in the second quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 456,835 shares of the medical technology company’s stock after selling 2,182,315 shares during the quarter. Driehaus Capital Management LLC owned 0.33% of Alphatec worth $4,774,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also bought and sold shares of the stock. Comerica Bank raised its holdings in shares of Alphatec by 64.8% during the first quarter. Comerica Bank now owns 6,443 shares of the medical technology company’s stock valued at $89,000 after purchasing an additional 2,534 shares during the last quarter. EntryPoint Capital LLC purchased a new position in shares of Alphatec in the 1st quarter worth $141,000. Van ECK Associates Corp grew its holdings in shares of Alphatec by 11.8% in the second quarter. Van ECK Associates Corp now owns 12,275 shares of the medical technology company’s stock worth $128,000 after acquiring an additional 1,300 shares during the period. Cetera Advisors LLC increased its position in Alphatec by 15.6% during the first quarter. Cetera Advisors LLC now owns 12,720 shares of the medical technology company’s stock valued at $175,000 after acquiring an additional 1,720 shares during the last quarter. Finally, Focus Financial Network Inc. ADV bought a new position in Alphatec in the fourth quarter valued at about $207,000. Institutional investors own 66.35% of the company’s stock.

Insiders Place Their Bets

In other news, Director David M. Demski bought 50,000 shares of Alphatec stock in a transaction dated Wednesday, August 21st. The shares were acquired at an average price of $5.67 per share, with a total value of $283,500.00. Following the completion of the purchase, the director now owns 288,441 shares in the company, valued at approximately $1,635,460.47. The acquisition was disclosed in a document filed with the SEC, which is available at this hyperlink. 22.80% of the stock is owned by insiders.

Analysts Set New Price Targets

Several research firms have recently commented on ATEC. Wells Fargo & Company reduced their price target on shares of Alphatec from $26.00 to $19.00 and set an “overweight” rating for the company in a research report on Thursday, August 1st. Piper Sandler dropped their target price on shares of Alphatec from $17.00 to $12.00 and set an “overweight” rating for the company in a report on Thursday, August 1st. HC Wainwright reissued a “buy” rating and set a $20.00 price target on shares of Alphatec in a report on Thursday, August 1st. Morgan Stanley lowered Alphatec from an “overweight” rating to an “equal weight” rating in a research note on Thursday, August 1st. Finally, Stifel Nicolaus decreased their target price on Alphatec from $19.00 to $16.00 and set a “buy” rating on the stock in a research note on Thursday, August 1st. One research analyst has rated the stock with a sell rating, one has issued a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat.com, Alphatec has an average rating of “Moderate Buy” and a consensus target price of $17.50.

Alphatec Trading Up 1.3 %

Shares of ATEC opened at $5.56 on Monday. The stock has a market capitalization of $777.76 million, a PE ratio of -3.73 and a beta of 1.40. The company’s fifty day moving average is $6.82 and its 200 day moving average is $10.00. The company has a debt-to-equity ratio of 30.21, a quick ratio of 1.21 and a current ratio of 2.22. Alphatec Holdings, Inc. has a fifty-two week low of $5.28 and a fifty-two week high of $17.34.

Alphatec (NASDAQ:ATEC) last announced its earnings results on Wednesday, July 31st. The medical technology company reported ($0.29) earnings per share (EPS) for the quarter, missing the consensus estimate 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 analysts’ expectations of $144.55 million. During the same quarter in the prior year, the company posted ($0.43) earnings per share. The firm’s quarterly revenue was up 24.5% compared to the same quarter last year. Sell-side analysts expect that Alphatec Holdings, Inc. will post -1.08 earnings per share for the current fiscal 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.