Raymond James Financial Inc. Takes Position 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 fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 39,028 shares of the medical technology company's stock, valued at approximately $358,000.

Several other hedge funds have also recently modified their holdings of ATEC. R Squared Ltd acquired a new stake in Alphatec in the 4th quarter worth approximately $29,000. Nisa Investment Advisors LLC lifted its stake in shares of 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 buying an additional 4,234 shares during the period. Newton One Investments LLC purchased a new stake in shares of Alphatec during the fourth quarter valued at $50,000. Oppenheimer Asset Management Inc. purchased a new stake in shares of Alphatec during the fourth quarter valued at $106,000. Finally, XTX Topco Ltd acquired a new position in shares of Alphatec in the 3rd quarter valued at $69,000. Institutional investors and hedge funds own 66.35% of the company's stock.

Alphatec Price Performance

Shares of Alphatec stock traded down $0.07 during trading hours on Tuesday, reaching $10.11. The stock had a trading volume of 213,229 shares, compared to its average volume of 2,023,896. Alphatec Holdings, Inc. has a twelve month low of $4.88 and a twelve month high of $13.79. The company has a current ratio of 2.32, a quick ratio of 1.15 and a debt-to-equity ratio of 30.21. The firm has a market capitalization of $1.46 billion, a PE ratio of -7.93 and a beta of 1.20. The stock's 50 day moving average is $10.44 and its 200 day moving average is $9.37.

Alphatec (NASDAQ:ATEC - Get Free Report) last issued its quarterly earnings results on Wednesday, February 26th. The medical technology company reported ($0.23) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.19) by ($0.04). The business had revenue of $176.79 million for the quarter, compared to analysts' expectations of $172.74 million. Alphatec had a negative return on equity of 541.39% and a negative net margin of 31.06%. Equities analysts expect that Alphatec Holdings, Inc. will post -1.08 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several research firms have weighed in on ATEC. HC Wainwright reiterated a "buy" rating and set a $20.00 price target on shares of Alphatec in a research note on Monday. Needham & Company LLC reiterated a "buy" rating and issued a $16.00 target price on shares of Alphatec in a research report on Thursday, February 27th. Piper Sandler raised their price target on shares of Alphatec from $12.00 to $13.00 and gave the stock an "overweight" rating in a research report on Thursday, February 27th. StockNews.com upgraded shares of Alphatec from a "sell" rating to a "hold" rating in a research note on Friday, February 28th. Finally, Barclays increased their price objective on shares of Alphatec from $20.00 to $21.00 and gave the stock an "overweight" rating in a research note on Wednesday, January 22nd. Two investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to data from MarketBeat.com, Alphatec has a consensus rating of "Moderate Buy" and an average target price of $17.67.

Insider Buying and Selling

In other Alphatec news, EVP David Sponsel sold 36,256 shares of the stock in a transaction dated Monday, February 3rd. The shares were sold at an average price of $11.42, for a total value of $414,043.52. Following the completion of the sale, the executive vice president now owns 735,074 shares in the company, valued at approximately $8,394,545.08. This represents a 4.70 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Patrick Miles sold 50,000 shares of the stock in a transaction that occurred on Wednesday, January 29th. The shares were sold at an average price of $12.03, for a total value of $601,500.00. Following the completion of the sale, the chief executive officer now directly owns 6,152,544 shares of the company's stock, valued at approximately $74,015,104.32. This represents a 0.81 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 278,800 shares of company stock worth $3,201,469. Insiders own 22.80% 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.