Cullen Frost Bankers Inc. Purchases 6,785 Shares of Alphatec Holdings, Inc. (NASDAQ:ATEC)

Cullen Frost Bankers Inc. increased its position in Alphatec Holdings, Inc. (NASDAQ:ATEC) by 18.9% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 42,697 shares of the medical technology company’s stock after purchasing an additional 6,785 shares during the quarter. Cullen Frost Bankers Inc.’s holdings in Alphatec were worth $645,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of ATEC. Amalgamated Bank lifted its stake in Alphatec by 7.3% during the fourth quarter. Amalgamated Bank now owns 9,720 shares of the medical technology company’s stock worth $147,000 after purchasing an additional 660 shares during the period. Valeo Financial Advisors LLC grew its position in Alphatec by 5.0% in the fourth quarter. Valeo Financial Advisors LLC now owns 19,025 shares of the medical technology company’s stock valued at $287,000 after acquiring an additional 900 shares during the period. RiverPark Advisors LLC raised its stake in Alphatec by 22.6% during the fourth quarter. RiverPark Advisors LLC now owns 5,033 shares of the medical technology company’s stock worth $76,000 after acquiring an additional 928 shares in the last quarter. Handelsbanken Fonder AB lifted its holdings in shares of Alphatec by 5.0% during the fourth quarter. Handelsbanken Fonder AB now owns 20,900 shares of the medical technology company’s stock valued at $316,000 after acquiring an additional 1,000 shares during the period. Finally, State Board of Administration of Florida Retirement System boosted its stake in shares of Alphatec by 4.7% in the 3rd quarter. State Board of Administration of Florida Retirement System now owns 22,904 shares of the medical technology company’s stock valued at $297,000 after purchasing an additional 1,030 shares in the last quarter. Institutional investors and hedge funds own 66.35% of the company’s stock.

Insider Transactions at Alphatec

In other news, General Counsel Tyson Eliot Marshall sold 11,825 shares of Alphatec stock in a transaction that occurred on Friday, March 1st. The shares were sold at an average price of $13.30, for a total value of $157,272.50. Following the sale, the general counsel now directly owns 305,095 shares in the company, valued at $4,057,763.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, EVP David Sponsel sold 2,500 shares of Alphatec stock in a transaction that occurred on Wednesday, February 14th. The stock was sold at an average price of $16.16, for a total transaction of $40,400.00. Following the completion of the transaction, the executive vice president now directly owns 637,418 shares in the company, valued at approximately $10,300,674.88. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, General Counsel Tyson Eliot Marshall sold 11,825 shares of the company’s stock in a transaction on Friday, March 1st. The shares were sold at an average price of $13.30, for a total transaction of $157,272.50. Following the completion of the transaction, the general counsel now owns 305,095 shares in the company, valued at $4,057,763.50. The disclosure for this sale can be found here. Insiders sold 285,069 shares of company stock valued at $3,971,495 over the last three months. Company insiders own 29.12% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have recently commented on ATEC. Wells Fargo & Company initiated coverage on Alphatec in a report on Friday, February 9th. They set an “overweight” rating and a $26.00 target price on the stock. HC Wainwright reiterated a “buy” rating and set a $20.00 target price on shares of Alphatec in a research report on Monday, March 4th. Needham & Company LLC reissued a “buy” rating and issued a $23.00 price target on shares of Alphatec in a report on Wednesday. Piper Sandler decreased their price objective on Alphatec from $19.00 to $17.00 and set an “overweight” rating on the stock in a research report on Wednesday. Finally, Canaccord Genuity Group restated a “buy” rating and set a $25.00 target price on shares of Alphatec in a research report on Wednesday, March 20th. One equities research analyst has rated the stock with a sell rating and eight have assigned a buy rating to the company. According to data from MarketBeat, Alphatec has a consensus rating of “Moderate Buy” and a consensus target price of $22.89.

Alphatec Stock Up 7.0 %

Shares of NASDAQ ATEC opened at $11.34 on Friday. The company has a debt-to-equity ratio of 6.54, a quick ratio of 1.99 and a current ratio of 2.86. Alphatec Holdings, Inc. has a 52-week low of $8.66 and a 52-week high of $19.14. The firm has a 50 day moving average price of $13.21 and a 200 day moving average price of $13.53. The stock has a market cap of $1.59 billion, a P/E ratio of -7.32 and a beta of 1.48.

Alphatec (NASDAQ:ATEC) last posted its earnings results on Tuesday, May 7th. The medical technology company reported ($0.34) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.33) by ($0.01). The company had revenue of $138.48 million during the quarter, compared to analyst estimates of $134.07 million. The business’s quarterly revenue was up 26.9% compared to the same quarter last year. During the same period last year, the firm posted ($0.40) earnings per share. Analysts expect that Alphatec Holdings, Inc. will post -1.1 EPS for the current year.

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.