King Luther Capital Management Corp Grows Stake in Alphatec Holdings, Inc. (NASDAQ:ATEC)

Key Points

• King Luther Capital Management Corp increased its stake in Alphatec Holdings by 19.1%, acquiring an additional 137,901 shares, bringing its total ownership to 859,370 shares valued at approximately $8.7 million.
• Alphatec has recently received multiple buy ratings from analysts, with target prices ranging from $16.00 to $22.00, reflecting strong investor confidence in the company.
• In its latest earnings report, Alphatec posted a revenue of $185.54 million, surpassing estimates and marking a 27.5% increase year-over-year, although it reported negative earnings per share of $0.02.

King Luther Capital Management Corp raised its stake in Alphatec Holdings, Inc. (NASDAQ:ATEC - Free Report) by 19.1% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 859,370 shares of the medical technology company's stock after acquiring an additional 137,901 shares during the quarter. King Luther Capital Management Corp owned approximately 0.59% of Alphatec worth $8,714,000 at the end of the most recent reporting period.

Other large investors have also made changes to their positions in the company. Wealth Enhancement Advisory Services LLC increased its position in shares of Alphatec by 301.0% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 59,987 shares of the medical technology company's stock worth $608,000 after purchasing an additional 45,027 shares in the last quarter. GAMMA Investing LLC increased its position 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 in the last quarter. SG Americas Securities LLC increased its position in shares of Alphatec by 28.3% during the first quarter. SG Americas Securities LLC now owns 56,927 shares of the medical technology company's stock worth $577,000 after purchasing an additional 12,553 shares in the last quarter. Oppenheimer Asset Management Inc. increased its position in shares of Alphatec by 13.4% during the first quarter. Oppenheimer Asset Management Inc. now owns 13,144 shares of the medical technology company's stock worth $133,000 after purchasing an additional 1,552 shares in the last quarter. Finally, Rhumbline Advisers increased its position in shares of Alphatec by 6.9% during the first quarter. Rhumbline Advisers now owns 148,749 shares of the medical technology company's stock worth $1,508,000 after purchasing an additional 9,661 shares in the last quarter. 66.35% of the stock is owned by institutional investors and hedge funds.

Alphatec Trading Up 0.5%

Shares of Alphatec stock traded up $0.08 during trading hours on Wednesday, hitting $15.80. The company's stock had a trading volume of 2,391,483 shares, compared to its average volume of 2,979,297. The firm has a fifty day moving average of $11.82 and a 200-day moving average of $11.37. Alphatec Holdings, Inc. has a twelve month low of $4.88 and a twelve month high of $16.02. The company has a debt-to-equity ratio of 23.22, a quick ratio of 1.77 and a current ratio of 2.88. The stock has a market cap of $2.34 billion, a price-to-earnings ratio of -13.98 and a beta of 1.05.

Alphatec (NASDAQ:ATEC - Get Free Report) last posted its earnings results on Thursday, July 31st. The medical technology company reported $0.02 earnings per share (EPS) for the quarter, topping the consensus estimate 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 earned ($0.29) EPS. Alphatec's revenue was up 27.5% on a year-over-year basis. Research analysts forecast that Alphatec Holdings, Inc. will post -1.08 EPS for the current year.

Analyst Ratings Changes

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

Insider Buying and Selling

In other Alphatec news, COO Scott Lish sold 16,666 shares of the stock in a transaction dated Tuesday, August 5th. The stock was sold at an average price of $15.00, for a total value of $249,990.00. Following the sale, the chief operating officer owned 674,332 shares of the company's stock, valued at $10,114,980. This trade represents a 2.41% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, General Counsel Tyson Eliot Marshall sold 18,092 shares of the stock in a transaction dated Tuesday, August 5th. The shares were sold at an average price of $14.91, for a total value of $269,751.72. Following the completion of the sale, 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 disclosure for this sale can be found here. Insiders sold 449,997 shares of company stock worth $5,846,616 over the last 90 days. 20.90% of the stock is currently owned by company insiders.

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.