Nuveen LLC Acquires Shares of 13,399,811 Alphatec Holdings, Inc. (NASDAQ:ATEC)

Key Points

• Nuveen LLC acquired a new stake in Alphatec Holdings, buying approximately 13.4 million shares valued at around $135.9 million, representing about 9.17% ownership of the company.
• Analysts maintain a generally positive outlook with multiple firms, including Barclays and Piper Sandler, issuing "overweight" ratings and raising their target prices for Alphatec, indicating confidence in its future performance.
• Alphatec reported quarterly earnings of $0.02 EPS, exceeding estimates, with a revenue increase of 27.5% compared to the prior year, suggesting strong performance in its financial results.

Nuveen LLC purchased a new stake in shares of Alphatec Holdings, Inc. (NASDAQ:ATEC - Free Report) during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor purchased 13,399,811 shares of the medical technology company's stock, valued at approximately $135,874,000. Nuveen LLC owned approximately 9.17% of Alphatec at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. King Luther Capital Management Corp raised its holdings in Alphatec by 19.1% in the first quarter. King Luther Capital Management Corp now owns 859,370 shares of the medical technology company's stock worth $8,714,000 after buying an additional 137,901 shares during the last quarter. Invesco Ltd. boosted its position in shares of Alphatec by 14.6% during the first quarter. Invesco Ltd. now owns 50,845 shares of the medical technology company's stock worth $516,000 after acquiring an additional 6,467 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. purchased a new stake in Alphatec during the first quarter valued at $973,000. Zions Bancorporation National Association UT purchased a new stake in shares of Alphatec in the first quarter valued at $2,240,000. Finally, Mitsubishi UFJ Asset Management Co. Ltd. increased its stake in Alphatec by 4.6% in the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 40,734 shares of the medical technology company's stock worth $413,000 after buying an additional 1,792 shares during the period. 66.35% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Alphatec

In other news, COO Scott Lish sold 55,375 shares of the firm's stock in a transaction on Monday, May 19th. The stock was sold at an average price of $13.00, for a total value of $719,875.00. Following the transaction, the chief operating officer directly owned 771,645 shares in the company, valued at $10,031,385. This trade represents a 6.70% 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 firm's stock in a transaction on 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 position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 459,299 shares of company stock worth $5,995,448. Insiders own 20.90% of the company's stock.

Alphatec Stock Up 0.8%

Shares of ATEC traded up $0.13 during trading hours on Friday, hitting $15.70. 1,804,563 shares of the company were exchanged, compared to its average volume of 3,029,615. The firm's 50 day moving average is $11.94 and its 200-day moving average is $11.43. Alphatec Holdings, Inc. has a 52 week low of $4.88 and a 52 week high of $16.01. The company has a market cap of $2.32 billion, a PE ratio of -13.89 and a beta of 1.05. 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 earnings results on Thursday, July 31st. The medical technology company reported $0.02 earnings per share (EPS) 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 business had revenue of $185.54 million during the quarter, compared to analysts' expectations of $178.85 million. During the same period in the prior year, the firm posted ($0.29) EPS. Alphatec's quarterly revenue was up 27.5% compared to the same quarter last year. On average, equities research analysts forecast that Alphatec Holdings, Inc. will post -1.08 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

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

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.