Royce & Associates LP Buys 143,478 Shares of Alphatec Holdings, Inc. (NASDAQ:ATEC)

Key Points

• Royce & Associates LP increased its stake in Alphatec Holdings, Inc. by 14.3% during the 1st quarter, now owning over 1.1 million shares valued at approximately $11.6 million.
• Alphatec reported a loss of $0.35 earnings per share in its latest quarterly earnings, missing expectations by $0.23, although revenue rose by 22.2% compared to the previous year.
• Multiple research firms have upgraded Alphatec's rating, with price targets ranging from $15.00 to $20.00, reflecting positive analyst sentiment towards the company's future performance.

Royce & Associates LP lifted its holdings in shares of Alphatec Holdings, Inc. (NASDAQ:ATEC - Free Report) by 14.3% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 1,147,979 shares of the medical technology company's stock after purchasing an additional 143,478 shares during the period. Royce & Associates LP owned 0.79% of Alphatec worth $11,641,000 as of its most recent filing with the SEC.

A number of other hedge funds also recently modified their holdings of the business. Lido Advisors LLC increased its stake in Alphatec by 8.4% in the fourth quarter. Lido Advisors LLC now owns 12,247 shares of the medical technology company's stock valued at $112,000 after purchasing an additional 953 shares in the last quarter. Comerica Bank increased its stake in Alphatec by 66.8% in the fourth quarter. Comerica Bank now owns 3,116 shares of the medical technology company's stock valued at $29,000 after purchasing an additional 1,248 shares in the last quarter. Summit Investment Advisors Inc. increased its stake in Alphatec by 14.1% in the fourth quarter. Summit Investment Advisors Inc. now owns 10,890 shares of the medical technology company's stock valued at $100,000 after purchasing an additional 1,342 shares in the last quarter. Oppenheimer Asset Management Inc. increased its stake in Alphatec by 13.4% in the first quarter. Oppenheimer Asset Management Inc. now owns 13,144 shares of the medical technology company's stock valued at $133,000 after purchasing an additional 1,552 shares in the last quarter. Finally, Mercer Global Advisors Inc. ADV increased its position in shares of Alphatec by 0.6% during the fourth quarter. Mercer Global Advisors Inc. ADV now owns 288,967 shares of the medical technology company's stock worth $2,653,000 after acquiring an additional 1,784 shares in the last quarter. Institutional investors and hedge funds own 66.35% of the company's stock.

Alphatec Stock Performance

ATEC traded up $0.11 during midday trading on Friday, reaching $10.82. The company had a trading volume of 857,795 shares, compared to its average volume of 1,440,822. The stock has a market cap of $1.58 billion, a PE ratio of -9.41 and a beta of 1.05. Alphatec Holdings, Inc. has a 12-month low of $4.88 and a 12-month high of $13.14. The business has a 50-day moving average price of $11.49 and a two-hundred day moving average price of $11.11.

Alphatec (NASDAQ:ATEC - Get Free Report) last posted its quarterly earnings results on Thursday, May 1st. The medical technology company reported ($0.35) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.12) by ($0.23). Alphatec had a negative net margin of 25.77% and a negative return on equity of 1,657.19%. The business had revenue of $169.18 million during the quarter, compared to the consensus estimate of $167.57 million. During the same period last year, the firm earned ($0.34) EPS. The business's revenue for the quarter was up 22.2% on a year-over-year basis. On average, research analysts anticipate that Alphatec Holdings, Inc. will post -1.08 earnings per share for the current year.

Analyst Ratings Changes

Several equities research analysts have recently commented on the stock. HC Wainwright reissued a "buy" rating and set a $20.00 target price on shares of Alphatec in a research report on Monday, April 14th. Piper Sandler reissued an "overweight" rating and set a $15.00 target price (up from $13.00) on shares of Alphatec in a research report on Friday, May 2nd. Needham & Company LLC reissued a "buy" rating and set a $16.00 target price on shares of Alphatec in a research report on Friday, May 2nd. Finally, Lake Street Capital raised shares of Alphatec to a "buy" rating and set a $18.00 target price for the company in a research report on Monday, June 16th. Two investment 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 currently has an average rating of "Moderate Buy" and a consensus target price of $18.13.

Insider Activity

In related news, COO Scott Lish sold 3,982 shares of the company's stock in a transaction that occurred on Thursday, July 10th. The shares were sold at an average price of $12.00, for a total transaction of $47,784.00. Following the sale, the chief operating officer owned 744,936 shares of the company's stock, valued at approximately $8,939,232. This represents a 0.53% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP Craig E. Hunsaker sold 13,878 shares of the company's stock in a transaction that occurred on Thursday, June 5th. The stock was sold at an average price of $12.36, for a total transaction of $171,532.08. Following the sale, the executive vice president directly owned 1,450,018 shares in the company, valued at $17,922,222.48. This trade represents a 0.95% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 299,547 shares of company stock valued at $3,698,956 over the last quarter. Company insiders own 20.90% of the company's stock.

About Alphatec

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.