Zions Bancorporation N.A. Acquires 89,992 Shares of Alphatec Holdings, Inc. (NASDAQ:ATEC)

Zions Bancorporation N.A. raised its holdings in shares of Alphatec Holdings, Inc. (NASDAQ:ATEC - Free Report) by 108.2% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 173,180 shares of the medical technology company's stock after purchasing an additional 89,992 shares during the period. Zions Bancorporation N.A. owned approximately 0.12% of Alphatec worth $963,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently modified their holdings of ATEC. Comerica Bank raised its holdings in Alphatec by 64.8% in the 1st quarter. Comerica Bank now owns 6,443 shares of the medical technology company's stock worth $89,000 after purchasing an additional 2,534 shares during the period. EntryPoint Capital LLC bought a new stake in Alphatec during the first quarter valued at about $141,000. Van ECK Associates Corp raised its holdings in Alphatec by 11.8% during the second quarter. Van ECK Associates Corp now owns 12,275 shares of the medical technology company's stock valued at $128,000 after acquiring an additional 1,300 shares during the period. Cetera Advisors LLC raised its holdings in Alphatec by 15.6% during the first quarter. Cetera Advisors LLC now owns 12,720 shares of the medical technology company's stock valued at $175,000 after acquiring an additional 1,720 shares during the period. Finally, Net Worth Advisory Group bought a new stake in Alphatec during the third quarter valued at about $76,000. 66.35% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on the company. HC Wainwright restated a "buy" rating and set a $20.00 price objective on shares of Alphatec in a research report on Thursday, October 31st. Wells Fargo & Company cut their price objective on Alphatec from $26.00 to $19.00 and set an "overweight" rating for the company in a research report on Thursday, August 1st. Stifel Nicolaus cut their price objective on Alphatec from $19.00 to $16.00 and set a "buy" rating for the company in a research report on Thursday, August 1st. Lake Street Capital cut their price objective on Alphatec from $32.00 to $18.00 and set a "buy" rating for the company in a research report on Tuesday, September 3rd. Finally, Needham & Company LLC restated a "buy" rating and set a $13.00 price objective on shares of Alphatec in a research report on Thursday, October 31st. One research analyst has rated the stock with a hold rating and eight have given a buy rating to the company's stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $17.00.

Insiders Place Their Bets

In related news, Director David M. Demski purchased 50,000 shares of the firm's stock in a transaction dated Wednesday, August 21st. The stock was purchased at an average price of $5.67 per share, with a total value of $283,500.00. Following the completion of the purchase, the director now owns 288,441 shares of the company's stock, valued at approximately $1,635,460.47. The trade was a 20.97 % increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at the SEC website. 22.80% of the stock is owned by insiders.

Alphatec Trading Down 5.7 %

NASDAQ ATEC traded down $0.50 during trading on Friday, hitting $8.23. The stock had a trading volume of 2,174,270 shares, compared to its average volume of 1,965,574. 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 market capitalization of $1.17 billion, a price-to-earnings ratio of -6.43 and a beta of 1.31. Alphatec Holdings, Inc. has a one year low of $4.88 and a one year high of $17.34. The stock has a 50 day simple moving average of $6.30 and a 200 day simple moving average of $8.39.

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.