Raymond James Financial Inc. Purchases Shares of 39,028 Alphatec Holdings, Inc. (NASDAQ:ATEC)

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

A number of other institutional investors and hedge funds have also recently bought and sold shares of ATEC. R Squared Ltd bought a new stake in shares of Alphatec during the fourth quarter valued at approximately $29,000. Nisa Investment Advisors LLC lifted its stake 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 purchasing an additional 4,234 shares during the period. Newton One Investments LLC acquired a new stake in Alphatec during the fourth quarter valued at approximately $50,000. AlphaQuest LLC acquired a new position in shares of Alphatec in the 4th quarter worth approximately $80,000. Finally, Oppenheimer Asset Management Inc. bought a new position in shares of Alphatec during the 4th quarter worth approximately $106,000. Institutional investors and hedge funds own 66.35% of the company’s stock.

Insider Buying and Selling at Alphatec

In other news, EVP David Sponsel sold 33,732 shares of the company’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 represents a 4.80 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO Patrick Miles sold 12,691 shares of Alphatec stock in a transaction on Friday, March 7th. The stock was sold at an average price of $10.64, for a total value of $135,032.24. Following the sale, the chief executive officer now owns 5,857,603 shares in the company, valued at $62,324,895.92. This trade represents a 0.22 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 126,945 shares of company stock worth $1,416,352. Insiders own 20.90% of the company’s stock.

Alphatec Stock Performance

Shares of ATEC opened at $12.22 on Friday. Alphatec Holdings, Inc. has a 52 week low of $4.88 and a 52 week high of $12.82. The company has a debt-to-equity ratio of 30.21, a quick ratio of 1.15 and a current ratio of 2.32. The stock has a 50 day moving average price of $10.50 and a two-hundred day moving average price of $10.13. The firm has a market capitalization of $1.79 billion, a P/E ratio of -9.55 and a beta of 1.06.

Alphatec (NASDAQ:ATEC) last released its quarterly 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). Alphatec had a negative net margin of 31.06% and a negative return on equity of 541.39%. The company had revenue of $169.18 million during the quarter, compared to analysts’ expectations of $167.57 million. During the same period in the previous year, the company posted ($0.34) earnings per share. The company’s quarterly revenue was up 22.2% compared to the same quarter last year. Equities analysts forecast that Alphatec Holdings, Inc. will post -1.08 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

ATEC has been the subject of a number of recent analyst reports. Needham & Company LLC reiterated a “buy” rating and set a $16.00 target price on shares of Alphatec in a research report on Friday, May 2nd. HC Wainwright reiterated a “buy” rating and issued a $20.00 target price on shares of Alphatec in a research note on Monday, April 14th. StockNews.com upgraded shares of Alphatec from a “sell” rating to a “hold” rating in a research report on Friday, February 28th. Barclays lifted their target price on shares of Alphatec from $20.00 to $21.00 and gave the stock an “overweight” rating in a report on Wednesday, January 22nd. Finally, Piper Sandler reaffirmed an “overweight” rating and set a $15.00 price objective (up previously from $13.00) on shares of Alphatec in a research note on Friday, May 2nd. Two equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $17.89.

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.