Alphatec Holdings, Inc. $ATEC Shares Bought by Northern Trust Corp

Key Points

• Northern Trust Corp has increased its holdings in Alphatec Holdings, Inc. by 3.4%, owning approximately 1,049,469 shares valued at $10.64 million.
• Alphatec reported $185.54 million in revenue for the last quarter, exceeding analysts' expectations, with a 27.5% year-over-year growth.
• Several analysts have issued ratings upgrades for Alphatec, with target prices ranging from $18.00 to $22.00, reflecting positive market outlook.

Northern Trust Corp grew its holdings in shares of Alphatec Holdings, Inc. (NASDAQ:ATEC - Free Report) by 3.4% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 1,049,469 shares of the medical technology company's stock after purchasing an additional 34,726 shares during the period. Northern Trust Corp owned 0.72% of Alphatec worth $10,642,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently modified their holdings of the business. American Century Companies Inc. raised its holdings in shares of Alphatec by 16.9% during the first quarter. American Century Companies Inc. now owns 5,830,031 shares of the medical technology company's stock worth $59,117,000 after purchasing an additional 840,974 shares during the period. Aberdeen Group plc raised its holdings in shares of Alphatec by 5.3% during the first quarter. Aberdeen Group plc now owns 1,131,707 shares of the medical technology company's stock worth $11,476,000 after purchasing an additional 56,995 shares during the period. Russell Investments Group Ltd. raised its holdings in shares of Alphatec by 68.3% during the first quarter. Russell Investments Group Ltd. now owns 336,463 shares of the medical technology company's stock worth $3,412,000 after purchasing an additional 136,577 shares during the period. Motley Fool Asset Management LLC acquired a new stake in shares of Alphatec during the first quarter worth $6,346,000. Finally, Motley Fool Wealth Management LLC bought a new position in shares of Alphatec during the first quarter worth about $9,070,000. 66.35% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Alphatec

In related news, COO Scott Lish sold 36,081 shares of the stock in a transaction dated Friday, August 1st. The shares were sold at an average price of $12.53, for a total value of $452,094.93. Following the completion of the transaction, the chief operating officer owned 708,855 shares in the company, valued at $8,881,953.15. This represents a 4.84% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, EVP Craig E. Hunsaker sold 50,000 shares of the company's stock in a transaction dated Tuesday, August 5th. The shares were sold at an average price of $15.00, for a total transaction of $750,000.00. Following the completion of the sale, the executive vice president directly owned 1,400,018 shares of the company's stock, valued at $21,000,270. The trade was a 3.45% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 506,284 shares of company stock worth $7,579,535. 20.90% of the stock is currently owned by corporate insiders.

Alphatec Price Performance

ATEC traded down $0.45 on Wednesday, reaching $15.35. The company had a trading volume of 2,030,274 shares, compared to its average volume of 1,961,376. The company has a fifty day moving average of $13.67 and a 200-day moving average of $12.02. The company has a market capitalization of $2.27 billion, a P/E ratio of -13.58 and a beta of 1.02. The company has a current ratio of 2.88, a quick ratio of 1.77 and a debt-to-equity ratio of 23.22. Alphatec Holdings, Inc. has a one year low of $4.88 and a one year high of $16.70.

Alphatec (NASDAQ:ATEC - Get Free Report) last announced its earnings results on Thursday, July 31st. The medical technology company reported $0.02 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.06) by $0.08. The firm had revenue of $185.54 million during 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% compared to the same quarter last year. During the same quarter in the prior year, the firm posted ($0.29) EPS. Alphatec has set its FY 2025 guidance at EPS. As a group, equities research analysts anticipate that Alphatec Holdings, Inc. will post -1.08 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on ATEC shares. Wall Street Zen upgraded shares of Alphatec from a "hold" rating to a "buy" rating in a research report on Sunday. 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. Lake Street Capital upgraded shares of Alphatec to a "buy" rating and set a $18.00 price target for the company in a research report on Monday, June 16th. Finally, Barclays restated an "overweight" rating and set a $22.00 price target (up previously from $21.00) on shares of Alphatec in a research report on Monday, August 4th. Six research analysts have rated the stock with a Buy rating, According to data from MarketBeat, the company presently has a consensus rating of "Buy" and a consensus target price of $18.50.

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.