Alphatec Holdings, Inc. (NASDAQ:ATEC) Stake Boosted by Royal Bank of Canada

Royal Bank of Canada raised its stake in Alphatec Holdings, Inc. (NASDAQ:ATEC - Free Report) by 171.2% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 3,185,283 shares of the medical technology company's stock after acquiring an additional 2,010,806 shares during the period. Royal Bank of Canada owned 2.25% of Alphatec worth $29,240,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the stock. ProShare Advisors LLC boosted its stake in Alphatec by 51.1% in the fourth quarter. ProShare Advisors LLC now owns 29,319 shares of the medical technology company's stock valued at $269,000 after acquiring an additional 9,920 shares during the period. Man Group plc raised its holdings in shares of Alphatec by 74.5% during the fourth quarter. Man Group plc now owns 27,330 shares of the medical technology company's stock valued at $251,000 after buying an additional 11,666 shares during the last quarter. Nuveen Asset Management LLC raised its holdings in shares of Alphatec by 78.4% during 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. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in shares of Alphatec by 3.2% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 70,809 shares of the medical technology company's stock valued at $650,000 after buying an additional 2,177 shares during the last quarter. Finally, Lazard Asset Management LLC bought a new stake in shares of Alphatec during the fourth quarter valued at approximately $76,000. 66.35% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Alphatec

In other Alphatec news, COO Scott Lish sold 55,375 shares of the company'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 now owns 771,645 shares of the company's stock, valued at approximately $10,031,385. This represents a 6.70% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP David Sponsel sold 33,732 shares of Alphatec stock in a transaction that occurred on Thursday, March 6th. The stock was sold at an average price of $10.83, for a total transaction of $365,317.56. Following the transaction, the executive vice president now owns 668,977 shares in the company, valued at approximately $7,245,020.91. The trade was a 4.80% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 113,798 shares of company stock valued at $1,365,665. Corporate insiders own 20.90% of the company's stock.

Alphatec Price Performance

NASDAQ:ATEC traded down $0.02 during midday trading on Thursday, hitting $12.42. 196,297 shares of the stock were exchanged, compared to its average volume of 2,036,214. Alphatec Holdings, Inc. has a one year low of $4.88 and a one year high of $13.14. The company has a market capitalization of $1.82 billion, a price-to-earnings ratio of -9.73 and a beta of 1.06. The business has a 50-day moving average price of $11.21 and a two-hundred day moving average price of $10.59. The company has a current ratio of 2.32, a quick ratio of 1.15 and a debt-to-equity ratio of 30.21.

Alphatec (NASDAQ:ATEC - Get Free Report) last announced its earnings results on Thursday, May 1st. The medical technology company reported ($0.35) EPS for the quarter, missing the consensus estimate of ($0.12) by ($0.23). Alphatec had a negative return on equity of 541.39% and a negative net margin of 31.06%. The firm had revenue of $169.18 million for the quarter, compared to the consensus estimate of $167.57 million. During the same period in the previous year, the firm earned ($0.34) EPS. Alphatec's revenue for the quarter was up 22.2% on a year-over-year basis. Sell-side analysts predict that Alphatec Holdings, Inc. will post -1.08 EPS for the current year.

Wall Street Analyst Weigh In

ATEC has been the topic of a number of recent analyst reports. HC Wainwright reaffirmed a "buy" rating and set a $20.00 price target on shares of Alphatec in a report on Monday, April 14th. Needham & Company LLC reaffirmed a "buy" rating and set a $16.00 price target on shares of Alphatec in a report on Friday, May 2nd. Piper Sandler reaffirmed an "overweight" rating and set a $15.00 price target (up previously from $13.00) on shares of Alphatec in a report on Friday, May 2nd. Finally, Wall Street Zen raised Alphatec from a "sell" rating to a "hold" rating in a report on Friday, February 28th. Two investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $17.89.

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.