Connor Clark & Lunn Investment Management Ltd. Takes Position in Alphatec Holdings, Inc. $ATEC

Connor Clark & Lunn Investment Management Ltd. acquired a new stake in Alphatec Holdings, Inc. (NASDAQ:ATEC - Free Report) in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund acquired 95,998 shares of the medical technology company's stock, valued at approximately $973,000. Connor Clark & Lunn Investment Management Ltd. owned about 0.07% of Alphatec at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in ATEC. Royal Bank of Canada lifted its stake in Alphatec by 171.2% in the fourth quarter. Royal Bank of Canada now owns 3,185,283 shares of the medical technology company's stock valued at $29,240,000 after buying an additional 2,010,806 shares during the last quarter. Nuveen Asset Management LLC lifted its stake in Alphatec by 78.4% in the fourth quarter. Nuveen Asset Management LLC now owns 2,584,996 shares of the medical technology company's stock valued at $23,730,000 after buying an additional 1,136,330 shares during the last quarter. Marshall Wace LLP lifted its stake in Alphatec by 139.2% in the fourth quarter. Marshall Wace LLP now owns 1,773,246 shares of the medical technology company's stock valued at $16,278,000 after buying an additional 1,032,070 shares during the last quarter. Western Standard LLC purchased a new stake in Alphatec in the fourth quarter valued at approximately $6,668,000. Finally, Tudor Investment Corp ET AL lifted its stake in Alphatec by 295.4% in the fourth quarter. Tudor Investment Corp ET AL now owns 585,865 shares of the medical technology company's stock valued at $5,378,000 after buying an additional 437,690 shares during the last quarter. Hedge funds and other institutional investors own 66.35% of the company's stock.

Alphatec Price Performance

ATEC stock traded up $0.43 on Friday, reaching $16.36. 693,569 shares of the company's stock were exchanged, compared to its average volume of 2,058,987. The stock has a fifty day moving average of $12.27 and a 200-day moving average of $11.54. Alphatec Holdings, Inc. has a twelve month low of $4.88 and a twelve month high of $16.47. The firm has a market cap of $2.42 billion, a PE ratio of -14.43 and a beta of 1.05. The company has a quick ratio of 1.77, a current ratio of 2.88 and a debt-to-equity ratio of 23.22.

Alphatec (NASDAQ:ATEC - Get Free Report) last announced 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. Alphatec had a negative return on equity of 1,657.19% and a negative net margin of 24.33%.The firm had revenue of $185.54 million for the quarter, compared to analyst estimates of $178.85 million. During the same quarter in the prior year, the company posted ($0.29) earnings per share. Alphatec's quarterly revenue was up 27.5% on a year-over-year basis. Alphatec has set its FY 2025 guidance at EPS. As a group, equities analysts predict that Alphatec Holdings, Inc. will post -1.08 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on ATEC shares. Lake Street Capital upgraded Alphatec to a "buy" rating and set a $18.00 price target for the company in a research note on Monday, June 16th. Needham & Company LLC restated a "buy" rating and set a $16.00 price target on shares of Alphatec in a research note on Friday, May 2nd. Barclays restated an "overweight" rating and set a $22.00 price target (up previously from $21.00) on shares of Alphatec in a research note on Monday, August 4th. Piper Sandler restated an "overweight" rating and set a $15.00 price target (up previously from $13.00) on shares of Alphatec in a research note on Friday, May 2nd. Finally, Wall Street Zen upgraded Alphatec from a "hold" rating to a "buy" rating in a research note on Saturday, August 9th. Six research analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, Alphatec has a consensus rating of "Buy" and an average target price of $18.50.

Insider Buying and Selling at Alphatec

In other Alphatec news, COO Scott Lish sold 6,323 shares of the company's stock in a transaction on Thursday, August 21st. The stock was sold at an average price of $16.01, for a total value of $101,231.23. Following the sale, the chief operating officer owned 658,707 shares of the company's stock, valued at approximately $10,545,899.07. This represents a 0.95% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Craig E. Hunsaker sold 10,876 shares of the company's stock in a transaction on Wednesday, August 6th. The shares were sold at an average price of $15.33, for a total value of $166,729.08. Following the completion of the sale, the executive vice president directly owned 1,389,142 shares in the company, valued at $21,295,546.86. This trade represents a 0.78% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 410,247 shares of company stock valued at $5,376,804. Insiders own 20.90% of the company's stock.

About Alphatec

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.