Alphatec Holdings, Inc. (NASDAQ:ATEC) Shares Bought by King Luther Capital Management Corp

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 position 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 SEC. The institutional investor owned 859,370 shares of the medical technology company's stock after buying an additional 137,901 shares during the period. King Luther Capital Management Corp owned about 0.59% of Alphatec worth $8,714,000 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. Lido Advisors LLC increased its stake in shares of Alphatec by 8.4% during the fourth quarter. Lido Advisors LLC now owns 12,247 shares of the medical technology company's stock worth $112,000 after purchasing an additional 953 shares in the last quarter. Comerica Bank increased 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 in the last quarter. Summit Investment Advisors Inc. increased its stake in shares of Alphatec by 14.1% during the fourth quarter. Summit Investment Advisors Inc. now owns 10,890 shares of the medical technology company's stock worth $100,000 after purchasing an additional 1,342 shares in the last quarter. Oppenheimer Asset Management Inc. increased its stake 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, Mercer Global Advisors Inc. ADV boosted its position in Alphatec by 0.6% during the fourth quarter. Mercer Global Advisors Inc. ADV now owns 288,967 shares of the medical technology company's stock worth $2,653,000 after acquiring an additional 1,784 shares during the last quarter. Hedge funds and other institutional investors own 66.35% of the company's stock.

Analysts Set New Price Targets

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

Insider Transactions at Alphatec

In other news, General Counsel Tyson Eliot Marshall sold 18,092 shares of the company's stock in a transaction that occurred on Tuesday, August 5th. The shares were sold at an average price of $14.91, for a total value of $269,751.72. Following the transaction, the general counsel directly owned 438,331 shares in the company, valued at approximately $6,535,515.21. This represents a 3.96% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, COO Scott Lish sold 55,375 shares of the company's stock in a transaction that occurred on Monday, May 19th. The stock was sold at an average price of $13.00, for a total transaction of $719,875.00. Following the completion of the transaction, the chief operating officer owned 771,645 shares in the company, valued at approximately $10,031,385. This represents a 6.70% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 449,997 shares of company stock worth $5,846,616. 20.90% of the stock is currently owned by insiders.

Alphatec Trading Up 0.4%

NASDAQ:ATEC traded up $0.06 on Friday, hitting $15.63. The stock had a trading volume of 543,053 shares, compared to its average volume of 2,068,354. The company has a quick ratio of 1.77, a current ratio of 2.88 and a debt-to-equity ratio of 23.22. The stock has a market cap of $2.31 billion, a price-to-earnings ratio of -13.77 and a beta of 1.05. The company has a fifty day moving average price of $11.88 and a two-hundred day moving average price of $11.40. Alphatec Holdings, Inc. has a 1-year low of $4.88 and a 1-year high of $16.01.

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 for the quarter, beating the consensus estimate 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 net margin of 24.33% and a negative return on equity of 1,657.19%. Alphatec's revenue was up 27.5% on a year-over-year basis. During the same period in the previous year, the business posted ($0.29) EPS. Equities research analysts expect that Alphatec Holdings, Inc. will post -1.08 earnings per share for the current fiscal year.

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.