Raymond James Financial Services Advisors Inc. Purchases New Position in Alphatec Holdings, Inc. (NASDAQ:ATEC)

Raymond James Financial Services Advisors Inc. purchased a new stake in Alphatec Holdings, Inc. (NASDAQ:ATEC) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 13,374 shares of the medical technology company’s stock, valued at approximately $202,000.

A number of other large investors have also recently modified their holdings of the company. abrdn plc lifted its holdings in Alphatec by 276.7% during the third quarter. abrdn plc now owns 1,382,770 shares of the medical technology company’s stock worth $17,935,000 after buying an additional 1,015,668 shares during the period. Fred Alger Management LLC lifted its holdings in Alphatec by 48.9% during the third quarter. Fred Alger Management LLC now owns 2,336,718 shares of the medical technology company’s stock worth $30,307,000 after buying an additional 767,280 shares during the period. American Century Companies Inc. lifted its holdings in Alphatec by 24.5% during the third quarter. American Century Companies Inc. now owns 2,655,328 shares of the medical technology company’s stock worth $34,440,000 after buying an additional 523,323 shares during the period. Charles Schwab Investment Management Inc. lifted its holdings in Alphatec by 193.6% during the third quarter. Charles Schwab Investment Management Inc. now owns 621,293 shares of the medical technology company’s stock worth $8,058,000 after buying an additional 409,701 shares during the period. Finally, Sectoral Asset Management Inc. purchased a new stake in Alphatec during the third quarter worth $3,195,000. Hedge funds and other institutional investors own 66.35% of the company’s stock.

Insider Activity at Alphatec

In related news, EVP David Sponsel sold 2,500 shares of the company’s stock in a transaction on Wednesday, February 14th. The stock was sold at an average price of $16.16, for a total value of $40,400.00. Following the transaction, the executive vice president now directly owns 637,418 shares of the company’s stock, valued at approximately $10,300,674.88. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other Alphatec news, EVP David Sponsel sold 2,500 shares of the company’s stock in a transaction on Wednesday, February 14th. The shares were sold at an average price of $16.16, for a total value of $40,400.00. Following the sale, the executive vice president now directly owns 637,418 shares of the company’s stock, valued at $10,300,674.88. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Craig E. Hunsaker sold 41,560 shares of the company’s stock in a transaction on Monday, February 26th. The shares were sold at an average price of $15.05, for a total transaction of $625,478.00. Following the completion of the sale, the executive vice president now directly owns 1,188,444 shares in the company, valued at $17,886,082.20. The disclosure for this sale can be found here. Insiders have sold a total of 247,569 shares of company stock valued at $3,490,745 in the last ninety days. Company insiders own 29.12% of the company’s stock.

Alphatec Price Performance

NASDAQ ATEC opened at $12.74 on Thursday. The company has a debt-to-equity ratio of 6.54, a current ratio of 2.86 and a quick ratio of 1.99. The stock’s fifty day moving average price is $13.82 and its 200 day moving average price is $13.47. Alphatec Holdings, Inc. has a 1 year low of $8.66 and a 1 year high of $19.14. The company has a market cap of $1.76 billion, a price-to-earnings ratio of -8.22 and a beta of 1.55.

Alphatec (NASDAQ:ATEC) last released its earnings results on Tuesday, February 27th. The medical technology company reported ($0.37) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.28) by ($0.09). The company had revenue of $138.00 million during the quarter, compared to analysts’ expectations of $131.90 million. During the same quarter last year, the firm posted ($0.33) earnings per share. Alphatec’s revenue for the quarter was up 30.3% compared to the same quarter last year. As a group, equities research analysts forecast that Alphatec Holdings, Inc. will post -1.1 earnings per share for the current year.

Analysts Set New Price Targets

A number of analysts have weighed in on ATEC shares. HC Wainwright restated a “buy” rating and set a $20.00 target price on shares of Alphatec in a report on Monday, March 4th. Canaccord Genuity Group restated a “buy” rating and set a $25.00 target price on shares of Alphatec in a report on Wednesday, March 20th. Wells Fargo & Company assumed coverage on Alphatec in a research report on Friday, February 9th. They set an “overweight” rating and a $26.00 price target on the stock. Finally, Needham & Company LLC upped their price target on Alphatec from $22.00 to $23.00 and gave the stock a “buy” rating in a research report on Thursday, March 28th. One investment analyst has rated the stock with a sell rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $23.63.

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.