Alphatec Holdings, Inc. (NASDAQ:ATEC) Holdings Raised by Deutsche Bank AG

Key Points

• Deutsche Bank AG increased its stake in Alphatec Holdings by 11.8% in Q1, owning approximately 0.81% of the company worth $12 million after acquiring additional shares.
• Alphatec's stock received several positive ratings from analysts, with targets ranging from $15.00 to $22.00, leading to a consensus rating of "Buy".
• Insider activity includes significant share sales, with 449,997 shares sold over the past 90 days, representing 20.90% of the stock currently owned by insiders.

Deutsche Bank AG boosted its stake in Alphatec Holdings, Inc. (NASDAQ:ATEC - Free Report) by 11.8% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,185,235 shares of the medical technology company's stock after buying an additional 124,785 shares during the quarter. Deutsche Bank AG owned approximately 0.81% of Alphatec worth $12,018,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Wealth Enhancement Advisory Services LLC grew its position in Alphatec by 301.0% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 59,987 shares of the medical technology company's stock worth $608,000 after acquiring an additional 45,027 shares in the last quarter. GAMMA Investing LLC grew its position in Alphatec by 38,433.3% in the first quarter. GAMMA Investing LLC now owns 2,312 shares of the medical technology company's stock worth $228,000 after acquiring an additional 2,306 shares in the last quarter. SG Americas Securities LLC grew its position in Alphatec by 28.3% in the first quarter. SG Americas Securities LLC now owns 56,927 shares of the medical technology company's stock worth $577,000 after acquiring an additional 12,553 shares in the last quarter. Oppenheimer Asset Management Inc. grew its position in Alphatec by 13.4% in the first quarter. Oppenheimer Asset Management Inc. now owns 13,144 shares of the medical technology company's stock worth $133,000 after acquiring an additional 1,552 shares in the last quarter. Finally, Rhumbline Advisers grew its position in Alphatec by 6.9% in the first quarter. Rhumbline Advisers now owns 148,749 shares of the medical technology company's stock worth $1,508,000 after acquiring an additional 9,661 shares in the last quarter. Hedge funds and other institutional investors own 66.35% of the company's stock.

Insider Activity at Alphatec

In related news, General Counsel Tyson Eliot Marshall sold 18,092 shares of the company's stock in a transaction on Tuesday, August 5th. The shares were sold at an average price of $14.91, for a total transaction of $269,751.72. Following the completion of the transaction, the general counsel directly owned 438,331 shares in the company, valued at $6,535,515.21. This represents a 3.96% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Craig E. Hunsaker sold 186,122 shares of the stock in a transaction on Wednesday, June 4th. The shares were sold at an average price of $12.34, for a total transaction of $2,296,745.48. Following the completion of the transaction, the executive vice president owned 1,463,896 shares of the company's stock, valued at approximately $18,064,476.64. This represents a 11.28% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 449,997 shares of company stock worth $5,846,616 in the last ninety days. 20.90% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several analysts have commented on the stock. Lake Street Capital raised shares of Alphatec to a "buy" rating and set a $18.00 target price for the company in a research report on Monday, June 16th. Piper Sandler restated an "overweight" rating and issued a $15.00 price objective (up from $13.00) on shares of Alphatec in a research note on Friday, May 2nd. Barclays restated an "overweight" rating and issued a $22.00 price objective (up from $21.00) on shares of Alphatec in a research note on Monday, August 4th. Canaccord Genuity Group restated a "buy" rating and issued a $20.00 price objective on shares of Alphatec in a research note on Friday, August 1st. Finally, Wall Street Zen upgraded shares of Alphatec from a "hold" rating to a "buy" rating in a research note on Saturday, August 9th. Seven equities research analysts have rated the stock with a buy rating, According to data from MarketBeat, Alphatec presently has a consensus rating of "Buy" and an average price target of $18.50.

Alphatec Price Performance

NASDAQ:ATEC opened at $15.57 on Friday. The stock has a market cap of $2.30 billion, a P/E ratio of -13.78 and a beta of 1.05. Alphatec Holdings, Inc. has a one year low of $4.88 and a one year high of $16.01. The company has a fifty day moving average price of $11.88 and a 200 day moving average price of $11.40. The company has a debt-to-equity ratio of 23.22, a current ratio of 2.88 and a quick ratio of 1.77.

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

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