Raymond James Financial Inc. Makes New Investment in Alphatec Holdings, Inc. (NASDAQ:ATEC)

Raymond James Financial Inc. purchased a new position in shares of Alphatec Holdings, Inc. (NASDAQ:ATEC - Free Report) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 39,028 shares of the medical technology company's stock, valued at approximately $358,000.

A number of other large investors have also added to or reduced their stakes in ATEC. Renaissance Technologies LLC grew its holdings in Alphatec by 106.3% during the 4th quarter. Renaissance Technologies LLC now owns 292,100 shares of the medical technology company's stock worth $2,681,000 after acquiring an additional 150,500 shares during the last quarter. Legal & General Group Plc grew its stake in shares of Alphatec by 3.2% in the fourth quarter. Legal & General Group Plc now owns 113,417 shares of the medical technology company's stock worth $1,041,000 after purchasing an additional 3,529 shares during the last quarter. Russell Investments Group Ltd. increased its holdings in Alphatec by 20.0% in the fourth quarter. Russell Investments Group Ltd. now owns 199,886 shares of the medical technology company's stock valued at $1,835,000 after purchasing an additional 33,362 shares during the period. Geode Capital Management LLC increased its holdings in Alphatec by 1.0% in the fourth quarter. Geode Capital Management LLC now owns 2,387,162 shares of the medical technology company's stock valued at $21,919,000 after purchasing an additional 24,283 shares during the period. Finally, CIBC Private Wealth Group LLC raised its position in Alphatec by 19.1% during the 4th quarter. CIBC Private Wealth Group LLC now owns 17,154 shares of the medical technology company's stock worth $166,000 after purchasing an additional 2,750 shares during the last quarter. Institutional investors own 66.35% of the company's stock.

Insider Activity

In other Alphatec news, CEO Patrick Miles sold 32,393 shares of the company's stock in a transaction on Wednesday, February 26th. The shares were sold at an average price of $10.89, for a total transaction of $352,759.77. Following the transaction, the chief executive officer now owns 5,940,391 shares in the company, valued at approximately $64,690,857.99. This represents a 0.54% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, EVP David Sponsel sold 33,732 shares of Alphatec stock in a transaction dated Thursday, March 6th. The shares were 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 of the company's stock, valued at $7,245,020.91. This represents a 4.80% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 126,945 shares of company stock worth $1,416,352 over the last quarter. 20.90% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

ATEC has been the topic of a number of recent analyst reports. Needham & Company LLC restated a "buy" rating and issued a $16.00 price target on shares of Alphatec in a research report on Friday, May 2nd. Piper Sandler reissued an "overweight" rating and set a $15.00 target price (up previously from $13.00) on shares of Alphatec in a research note 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. Barclays increased their price target on Alphatec from $20.00 to $21.00 and gave the stock an "overweight" rating in a report on Wednesday, January 22nd. Finally, StockNews.com raised Alphatec from a "sell" rating to a "hold" rating in a research note on Friday, February 28th. Two analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company's stock. Based on data from MarketBeat, Alphatec presently has a consensus rating of "Moderate Buy" and an average price target of $17.89.

Alphatec Stock Up 1.5%

ATEC traded up $0.19 during midday trading on Thursday, hitting $12.93. The company had a trading volume of 387,481 shares, compared to its average volume of 2,032,150. The stock's 50 day moving average price is $10.61 and its 200 day moving average price is $10.25. Alphatec Holdings, Inc. has a 52 week low of $4.88 and a 52 week high of $12.94. The company has a market capitalization of $1.89 billion, a price-to-earnings ratio of -10.09 and a beta of 1.06. The company has a quick ratio of 1.15, a current ratio of 2.32 and a debt-to-equity ratio of 30.21.

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