American Century Companies Inc. Buys 840,974 Shares of Alphatec Holdings, Inc. $ATEC

Key Points

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American Century Companies Inc. lifted its position in shares of Alphatec Holdings, Inc. (NASDAQ:ATEC - Free Report) by 16.9% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 5,830,031 shares of the medical technology company's stock after acquiring an additional 840,974 shares during the quarter. American Century Companies Inc. owned approximately 3.99% of Alphatec worth $59,117,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in ATEC. GAMMA Investing LLC grew its stake in shares of Alphatec by 38,433.3% during the first quarter. GAMMA Investing LLC now owns 2,312 shares of the medical technology company's stock worth $228,000 after purchasing an additional 2,306 shares during the period. Comerica Bank grew its stake in shares of Alphatec by 66.8% during the fourth quarter. Comerica Bank now owns 3,116 shares of the medical technology company's stock worth $29,000 after purchasing an additional 1,248 shares during the period. Larson Financial Group LLC acquired a new stake in shares of Alphatec during the first quarter worth $54,000. Quarry LP grew its stake in shares of Alphatec by 79.2% during the fourth quarter. Quarry LP now owns 5,374 shares of the medical technology company's stock worth $49,000 after purchasing an additional 2,375 shares during the period. Finally, Lazard Asset Management LLC acquired a new stake in shares of Alphatec during the fourth quarter worth $76,000. Institutional investors own 66.35% of the company's stock.

Insider Activity

In other news, General Counsel Tyson Eliot Marshall sold 18,092 shares of the business's stock in a transaction dated Tuesday, August 5th. The stock was sold at an average price of $14.91, for a total value of $269,751.72. Following the sale, the general counsel directly owned 438,331 shares in the company, valued at $6,535,515.21. The trade was a 3.96% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, COO Scott Lish sold 6,323 shares of the business's stock in a transaction dated Thursday, August 21st. The shares were sold at an average price of $16.01, for a total value of $101,231.23. Following the completion of the sale, the chief operating officer owned 658,707 shares in the company, valued at approximately $10,545,899.07. This trade represents a 0.95% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 410,247 shares of company stock worth $5,376,804 over the last three months. Corporate insiders own 22.80% of the company's stock.

Analyst Upgrades and Downgrades

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

Alphatec Trading Up 1.3%

NASDAQ:ATEC traded up $0.21 on Friday, reaching $16.14. The company's stock had a trading volume of 2,490,745 shares, compared to its average volume of 3,222,100. The firm has a market cap of $2.39 billion, a PE ratio of -14.28 and a beta of 1.05. The business's 50-day moving average price is $12.37 and its two-hundred day moving average price is $11.57. Alphatec Holdings, Inc. has a 1-year low of $4.88 and a 1-year high of $16.47. The company has a debt-to-equity ratio of 23.22, a quick ratio of 1.77 and a current ratio of 2.88.

Alphatec (NASDAQ:ATEC - Get Free Report) last issued its quarterly earnings results on Thursday, July 31st. The medical technology company reported $0.02 EPS for the quarter, beating analysts' consensus estimates of ($0.06) by $0.08. The company 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 company's quarterly revenue was up 27.5% compared to the same quarter last year. During the same period in the previous year, the company posted ($0.29) earnings per share. Alphatec has set its FY 2025 guidance at EPS. Equities research analysts anticipate 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.