Royal Bank of Canada Grows Position in Alphatec Holdings, Inc. (NASDAQ:ATEC)

Royal Bank of Canada lifted its position in Alphatec Holdings, Inc. (NASDAQ:ATEC - Free Report) by 171.2% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 3,185,283 shares of the medical technology company's stock after purchasing an additional 2,010,806 shares during the quarter. Royal Bank of Canada owned approximately 2.25% of Alphatec worth $29,240,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in ATEC. Ballentine Partners LLC acquired a new position in Alphatec during the fourth quarter worth approximately $120,000. Nisa Investment Advisors LLC increased its position in Alphatec by 973.3% during the fourth quarter. Nisa Investment Advisors LLC now owns 4,669 shares of the medical technology company's stock worth $43,000 after buying an additional 4,234 shares during the period. Mount Yale Investment Advisors LLC acquired a new position in Alphatec during the fourth quarter worth approximately $152,000. R Squared Ltd acquired a new position in Alphatec during the fourth quarter worth approximately $29,000. Finally, Newton One Investments LLC acquired a new position in Alphatec during the fourth quarter worth approximately $50,000. Hedge funds and other institutional investors own 66.35% of the company's stock.

Insider Activity at Alphatec

In related news, EVP David Sponsel sold 33,732 shares of the firm's stock in a transaction that occurred on Thursday, March 6th. The stock was sold at an average price of $10.83, for a total value of $365,317.56. Following the completion of the transaction, the executive vice president now directly owns 668,977 shares of the company's stock, valued at $7,245,020.91. This trade represents a 4.80% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Patrick Miles sold 32,393 shares of the firm's stock in a transaction that occurred on Wednesday, February 26th. The shares were sold at an average price of $10.89, for a total value of $352,759.77. Following the completion of the transaction, the chief executive officer now directly owns 5,940,391 shares of the company's stock, valued at $64,690,857.99. The trade was a 0.54% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 169,374 shares of company stock valued at $1,997,316 in the last ninety days. Corporate insiders own 20.90% of the company's stock.

Analyst Upgrades and Downgrades

Several research analysts have commented on ATEC shares. Needham & Company LLC reaffirmed a "buy" rating and set a $16.00 price target on shares of Alphatec in a research report on Friday, May 2nd. HC Wainwright reaffirmed a "buy" rating and set a $20.00 price target on shares of Alphatec in a research report on Monday, April 14th. Wall Street Zen raised Alphatec from a "sell" rating to a "hold" rating in a research report on Friday, February 28th. Finally, Piper Sandler reaffirmed 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. Two research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company's stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $17.89.

Alphatec Price Performance

Shares of ATEC traded down $0.13 during mid-day trading on Tuesday, hitting $12.32. The company's stock had a trading volume of 1,661,643 shares, compared to its average volume of 2,040,500. The company has a current ratio of 2.32, a quick ratio of 1.15 and a debt-to-equity ratio of 30.21. The firm has a 50-day simple moving average of $11.11 and a 200 day simple moving average of $10.57. The firm has a market capitalization of $1.80 billion, a P/E ratio of -9.63 and a beta of 1.06. Alphatec Holdings, Inc. has a 1-year low of $4.88 and a 1-year high of $13.14.

Alphatec (NASDAQ:ATEC - Get Free Report) last posted its quarterly 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). The business had revenue of $169.18 million during the quarter, compared to analyst estimates of $167.57 million. Alphatec had a negative net margin of 31.06% and a negative return on equity of 541.39%. The firm's quarterly revenue was up 22.2% compared to the same quarter last year. During the same period in the prior year, the business earned ($0.34) earnings per share. Analysts predict that Alphatec Holdings, Inc. will post -1.08 EPS 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.