Alphatec Holdings, Inc. (NASDAQ:ATEC) Shares Purchased by Cullen Frost Bankers Inc.

Cullen Frost Bankers Inc. raised its holdings in Alphatec Holdings, Inc. (NASDAQ:ATEC) by 11.8% during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 47,733 shares of the medical technology company’s stock after purchasing an additional 5,036 shares during the quarter. Cullen Frost Bankers Inc.’s holdings in Alphatec were worth $499,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of ATEC. Rhumbline Advisers lifted its position in shares of Alphatec by 2.6% during the 2nd quarter. Rhumbline Advisers now owns 143,474 shares of the medical technology company’s stock valued at $1,499,000 after buying an additional 3,676 shares in the last quarter. Versor Investments LP purchased a new position in Alphatec in the second quarter worth approximately $220,000. Van ECK Associates Corp increased its position in shares of Alphatec by 11.8% during the 2nd quarter. Van ECK Associates Corp now owns 12,275 shares of the medical technology company’s stock worth $128,000 after purchasing an additional 1,300 shares during the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. raised its stake in shares of Alphatec by 23.8% in the 2nd quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 2,630,244 shares of the medical technology company’s stock valued at $27,486,000 after acquiring an additional 505,202 shares during the period. Finally, HighMark Wealth Management LLC raised its position in Alphatec by 87.1% in the second quarter. HighMark Wealth Management LLC now owns 107,400 shares of the medical technology company’s stock valued at $1,122,000 after purchasing an additional 50,000 shares during the period. Hedge funds and other institutional investors own 66.35% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on ATEC. Morgan Stanley downgraded shares of Alphatec from an “overweight” rating to an “equal weight” rating in a research note on Thursday, August 1st. HC Wainwright reissued a “buy” rating and issued a $20.00 target price on shares of Alphatec in a research report on Thursday, August 1st. Needham & Company LLC reduced their target price on shares of Alphatec from $23.00 to $13.00 and set a “buy” rating for the company in a report on Thursday, August 22nd. Wells Fargo & Company cut their price target on Alphatec from $26.00 to $19.00 and set an “overweight” rating for the company in a research note on Thursday, August 1st. Finally, Lake Street Capital lowered their target price on shares of Alphatec from $32.00 to $18.00 and set a “buy” rating on the stock in a report on Tuesday, September 3rd. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $17.50.

Insider Buying and Selling

In other news, Director David M. Demski purchased 50,000 shares of Alphatec stock in a transaction dated Wednesday, August 21st. The stock was acquired at an average cost of $5.67 per share, for a total transaction of $283,500.00. Following the acquisition, the director now directly owns 288,441 shares in the company, valued at $1,635,460.47. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Alphatec news, Director David M. Demski acquired 50,000 shares of the business’s stock in a transaction that occurred on Wednesday, August 21st. The stock was acquired at an average price of $5.67 per share, with a total value of $283,500.00. Following the transaction, the director now owns 288,441 shares of the company’s stock, valued at $1,635,460.47. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, General Counsel Tyson Eliot Marshall sold 50,232 shares of Alphatec stock in a transaction that occurred on Wednesday, June 12th. The stock was sold at an average price of $10.88, for a total value of $546,524.16. Following the sale, the general counsel now directly owns 245,638 shares in the company, valued at approximately $2,672,541.44. The disclosure for this sale can be found here. Company insiders own 22.80% of the company’s stock.

Alphatec Stock Performance

ATEC stock opened at $5.65 on Tuesday. The stock has a market capitalization of $793.60 million, a price-to-earnings ratio of -3.79 and a beta of 1.40. The stock’s fifty day moving average is $8.25 and its two-hundred day moving average is $10.79. Alphatec Holdings, Inc. has a 1 year low of $5.57 and a 1 year high of $17.34. The company has a debt-to-equity ratio of 30.21, a quick ratio of 1.21 and a current ratio of 2.22.

Alphatec (NASDAQ:ATEC) last announced its earnings results on Wednesday, July 31st. The medical technology company reported ($0.29) earnings per share for the quarter, missing the consensus estimate of ($0.26) by ($0.03). The firm had revenue of $145.57 million for the quarter, compared to the consensus estimate of $144.55 million. Alphatec had a negative net margin of 33.48% and a negative return on equity of 816.57%. The company’s quarterly revenue was up 24.5% compared to the same quarter last year. During the same period in the prior year, the business earned ($0.43) EPS. On average, research analysts predict that Alphatec Holdings, Inc. will post -1.08 EPS for the current 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.