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

Raymond James Financial Services Advisors Inc. purchased a new position in shares of Alphatec Holdings, Inc. (NASDAQ:ATEC) during the fourth quarter, HoldingsChannel.com reports. The fund purchased 13,374 shares of the medical technology company’s stock, valued at approximately $202,000.

A number of other large investors also recently bought and sold shares of ATEC. abrdn plc raised its stake in Alphatec by 276.7% during the third quarter. abrdn plc now owns 1,382,770 shares of the medical technology company’s stock worth $17,935,000 after purchasing an additional 1,015,668 shares during the period. Fred Alger Management LLC raised its stake in Alphatec by 48.9% during the third quarter. Fred Alger Management LLC now owns 2,336,718 shares of the medical technology company’s stock worth $30,307,000 after purchasing an additional 767,280 shares during the period. American Century Companies Inc. raised its stake in Alphatec by 24.5% during the third quarter. American Century Companies Inc. now owns 2,655,328 shares of the medical technology company’s stock worth $34,440,000 after purchasing an additional 523,323 shares during the period. Charles Schwab Investment Management Inc. raised its stake in shares of Alphatec by 193.6% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 621,293 shares of the medical technology company’s stock valued at $8,058,000 after acquiring an additional 409,701 shares during the period. Finally, Sectoral Asset Management Inc. purchased a new position in shares of Alphatec in the 3rd quarter valued at $3,195,000. Hedge funds and other institutional investors own 66.35% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have recently commented on the stock. HC Wainwright reissued a “buy” rating and issued a $20.00 target price on shares of Alphatec in a research note on Monday, March 4th. Wells Fargo & Company assumed coverage on shares of Alphatec in a research note on Friday, February 9th. They issued an “overweight” rating and a $26.00 target price on the stock. Needham & Company LLC raised their target price on shares of Alphatec from $22.00 to $23.00 and gave the company a “buy” rating in a research note on Thursday, March 28th. Finally, Canaccord Genuity Group reissued a “buy” rating and issued a $25.00 target price on shares of Alphatec in a research note on Wednesday, March 20th. One equities research analyst has rated the stock with a sell rating and seven have given a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $23.63.

Insiders Place Their Bets

In other news, CFO John Todd Koning sold 121,601 shares of Alphatec stock in a transaction dated Friday, March 1st. The shares were sold at an average price of $13.30, for a total value of $1,617,293.30. Following the completion of the transaction, the chief financial officer now directly owns 430,856 shares of the company’s stock, valued at approximately $5,730,384.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other news, CFO John Todd Koning sold 121,601 shares of Alphatec stock in a transaction dated Friday, March 1st. The shares were sold at an average price of $13.30, for a total value of $1,617,293.30. Following the completion of the transaction, the chief financial officer now directly owns 430,856 shares of the company’s stock, valued at approximately $5,730,384.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, COO Scott Lish sold 11,963 shares of Alphatec stock in a transaction dated Wednesday, February 21st. The shares were sold at an average price of $15.34, for a total transaction of $183,512.42. Following the completion of the transaction, the chief operating officer now directly owns 538,240 shares of the company’s stock, valued at $8,256,601.60. The disclosure for this sale can be found here. Insiders sold a total of 247,569 shares of company stock valued at $3,490,745 in the last ninety days. Corporate insiders own 29.12% of the company’s stock.

Alphatec Stock Performance

Alphatec stock opened at $12.74 on Thursday. Alphatec Holdings, Inc. has a 12-month low of $8.66 and a 12-month high of $19.14. The company has a market capitalization of $1.76 billion, a price-to-earnings ratio of -8.22 and a beta of 1.55. The company has a debt-to-equity ratio of 6.54, a current ratio of 2.86 and a quick ratio of 1.99. The firm’s fifty day moving average price is $13.82 and its 200 day moving average price is $13.47.

Alphatec (NASDAQ:ATEC) last announced its quarterly earnings data on Tuesday, February 27th. The medical technology company reported ($0.37) earnings per share for the quarter, missing the consensus estimate of ($0.28) by ($0.09). The business had revenue of $138.00 million for the quarter, compared to the consensus estimate of $131.90 million. Alphatec’s quarterly revenue was up 30.3% compared to the same quarter last year. During the same period in the prior year, the company posted ($0.33) earnings per share. On average, research analysts forecast that Alphatec Holdings, Inc. will post -1.1 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.