Royal Bank of Canada Has $35.77 Million Stake in Alphatec Holdings, Inc. $ATEC

Key Points

• Royal Bank of Canada increased its stake in Alphatec Holdings by 10.8%, owning approximately 2.41% of the company worth $35.77 million.
• Alphatec reported $0.02 earnings per share for the latest quarter, exceeding analysts' expectations of ($0.06), with revenue up 27.5% year-over-year.
• Equities analysts have positively adjusted price targets for Alphatec, with a consensus target of $18.50, reflecting a general "Buy" rating across multiple reports.

Royal Bank of Canada raised its position in Alphatec Holdings, Inc. (NASDAQ:ATEC - Free Report) by 10.8% during the first quarter, according to its most recent 13F filing with the SEC. The fund owned 3,527,939 shares of the medical technology company's stock after buying an additional 342,656 shares during the period. Royal Bank of Canada owned about 2.41% of Alphatec worth $35,773,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently bought and sold shares of the company. Driehaus Capital Management LLC bought a new position in Alphatec in the 1st quarter valued at $10,398,000. Trexquant Investment LP bought a new position in Alphatec in the 1st quarter valued at $1,313,000. Next Century Growth Investors LLC boosted its position in Alphatec by 70.9% in the 1st quarter. Next Century Growth Investors LLC now owns 1,678,678 shares of the medical technology company's stock valued at $17,022,000 after buying an additional 696,585 shares during the last quarter. Ieq Capital LLC boosted its position in Alphatec by 81.2% in the 1st quarter. Ieq Capital LLC now owns 63,840 shares of the medical technology company's stock valued at $647,000 after buying an additional 28,611 shares during the last quarter. Finally, FORA Capital LLC bought a new position in Alphatec in the 1st quarter valued at $102,000. 66.35% of the stock is currently owned by institutional investors.

Insider Transactions at Alphatec

In other Alphatec news, Director Mortimer Berkowitz III sold 62,500 shares of Alphatec stock in a transaction dated Tuesday, September 9th. The stock was sold at an average price of $15.97, for a total value of $998,125.00. Following the sale, the director owned 618,050 shares of the company's stock, valued at $9,870,258.50. This trade represents a 9.18% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, COO Scott Lish sold 6,323 shares of Alphatec stock in a transaction dated Thursday, August 21st. The shares were sold at an average price of $16.01, for a total value of $101,231.23. Following the completion of the sale, the chief operating officer directly owned 658,707 shares in the company, valued at $10,545,899.07. This represents a 0.95% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 546,057 shares of company stock worth $8,326,072. 20.90% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of research analysts have commented on ATEC shares. Wall Street Zen upgraded Alphatec from a "hold" rating to a "buy" rating in a research report on Sunday, September 7th. Lake Street Capital upgraded Alphatec to a "buy" rating and set a $18.00 price target on the stock in a research report on Monday, June 16th. Canaccord Genuity Group restated a "buy" rating and issued a $20.00 price target on shares of Alphatec in a research report on Friday, August 1st. Finally, Barclays restated an "overweight" rating and issued a $22.00 price target (up from $21.00) on shares of Alphatec in a research report on Monday, August 4th. Six equities research analysts have rated the stock with a Buy rating, According to data from MarketBeat, the company has a consensus rating of "Buy" and an average price target of $18.50.

Alphatec Trading Down 2.4%

Alphatec stock traded down $0.37 during mid-day trading on Friday, hitting $15.26. 1,736,713 shares of the company's stock were exchanged, compared to its average volume of 1,980,824. The firm has a market capitalization of $2.26 billion, a P/E ratio of -13.50 and a beta of 1.02. Alphatec Holdings, Inc. has a fifty-two week low of $4.88 and a fifty-two week high of $16.70. 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 company's 50 day simple moving average is $13.85 and its 200-day simple moving average is $12.08.

Alphatec (NASDAQ:ATEC - Get Free Report) last issued its quarterly earnings data on Thursday, July 31st. The medical technology company reported $0.02 EPS for the quarter, topping the consensus estimate of ($0.06) by $0.08. The business had revenue of $185.54 million for the quarter, compared to the consensus estimate of $178.85 million. Alphatec had a negative return on equity of 1,657.19% and a negative net margin of 24.33%.The firm's revenue was up 27.5% compared to the same quarter last year. During the same quarter last year, the business posted ($0.29) EPS. Alphatec has set its FY 2025 guidance at EPS. On average, equities analysts anticipate that Alphatec Holdings, Inc. will post -1.08 earnings per share for the current year.

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.