Zions Bancorporation National Association UT Makes New Investment in Alphatec Holdings, Inc. (NASDAQ:ATEC)

Key Points

• Zions Bancorporation National Association UT acquired 220,941 shares of Alphatec Holdings, valued at approximately $2.24 million, representing about 0.15% ownership in the company.
• Several analysts rated Alphatec with a consensus of "buy," with target prices ranging from $18.00 to $22.00, indicating strong confidence in the company's prospects.
• Alphatec reported a positive earnings surprise with earnings per share of $0.02, beating estimates, and a year-over-year revenue increase of 27.5%, reaching $185.54 million.

Zions Bancorporation National Association UT bought a new position in Alphatec Holdings, Inc. (NASDAQ:ATEC - Free Report) in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The firm bought 220,941 shares of the medical technology company's stock, valued at approximately $2,240,000. Zions Bancorporation National Association UT owned 0.15% of Alphatec as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. Royal Bank of Canada raised its holdings in shares of Alphatec by 171.2% in the 4th quarter. Royal Bank of Canada now owns 3,185,283 shares of the medical technology company's stock valued at $29,240,000 after acquiring an additional 2,010,806 shares in the last quarter. Nuveen Asset Management LLC raised its holdings in shares of Alphatec by 78.4% in the 4th quarter. Nuveen Asset Management LLC now owns 2,584,996 shares of the medical technology company's stock valued at $23,730,000 after acquiring an additional 1,136,330 shares in the last quarter. Marshall Wace LLP raised its holdings in shares of Alphatec by 139.2% in the 4th quarter. Marshall Wace LLP now owns 1,773,246 shares of the medical technology company's stock valued at $16,278,000 after acquiring an additional 1,032,070 shares in the last quarter. Western Standard LLC purchased a new stake in shares of Alphatec in the 4th quarter valued at about $6,668,000. Finally, Tudor Investment Corp ET AL raised its holdings in shares of Alphatec by 295.4% in the 4th quarter. Tudor Investment Corp ET AL now owns 585,865 shares of the medical technology company's stock valued at $5,378,000 after acquiring an additional 437,690 shares in the last quarter. Institutional investors own 66.35% of the company's stock.

Alphatec Trading Up 0.6%

Alphatec stock traded up $0.10 during trading hours on Wednesday, reaching $15.82. The company had a trading volume of 900,934 shares, compared to its average volume of 2,071,106. The company has a debt-to-equity ratio of 23.22, a current ratio of 2.88 and a quick ratio of 1.77. The company has a 50-day moving average price of $11.75 and a 200 day moving average price of $11.34. The firm has a market cap of $2.34 billion, a price-to-earnings ratio of -14.01 and a beta of 1.05. Alphatec Holdings, Inc. has a 12-month low of $4.88 and a 12-month high of $16.02.

Alphatec (NASDAQ:ATEC - Get Free Report) last issued its quarterly earnings data on Thursday, July 31st. The medical technology company reported $0.02 earnings per share for the quarter, topping analysts' consensus estimates of ($0.06) by $0.08. The firm had revenue of $185.54 million for the quarter, compared to analyst estimates of $178.85 million. Alphatec had a negative return on equity of 1,657.19% and a negative net margin of 24.33%. The business's quarterly revenue was up 27.5% compared to the same quarter last year. During the same period last year, the company earned ($0.29) EPS. Equities analysts forecast that Alphatec Holdings, Inc. will post -1.08 earnings per share for the current year.

Insiders Place Their Bets

In other news, EVP Craig E. Hunsaker sold 10,876 shares of Alphatec stock in a transaction that occurred on Wednesday, August 6th. The stock was sold at an average price of $15.33, for a total value of $166,729.08. Following the sale, the executive vice president directly owned 1,389,142 shares in the company, valued at approximately $21,295,546.86. This trade represents a 0.78% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Karen K. Mcginnis sold 3,963 shares of Alphatec stock in a transaction that occurred on Wednesday, June 11th. The shares were sold at an average price of $12.11, for a total value of $47,991.93. Following the sale, the director owned 68,709 shares in the company, valued at $832,065.99. This represents a 5.45% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 449,997 shares of company stock valued at $5,846,616 in the last 90 days. 22.80% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several analysts have weighed in on the company. Piper Sandler reaffirmed an "overweight" rating and issued a $15.00 price target (up previously from $13.00) on shares of Alphatec in a report on Friday, May 2nd. Barclays reaffirmed an "overweight" rating and issued a $22.00 price target (up previously from $21.00) on shares of Alphatec in a report on Monday, August 4th. Lake Street Capital raised Alphatec to a "buy" rating and set a $18.00 price target on the stock in a report on Monday, June 16th. Needham & Company LLC reaffirmed a "buy" rating and issued a $16.00 price target on shares of Alphatec in a report on Friday, May 2nd. Finally, Canaccord Genuity Group reissued a "buy" rating and set a $20.00 price objective on shares of Alphatec in a report on Friday, August 1st. Seven equities research analysts have rated the stock with a buy rating, According to MarketBeat, Alphatec has a consensus rating of "Buy" and a consensus price target of $18.50.

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.