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

Cullen Frost Bankers Inc. grew its holdings in shares of Alphatec Holdings, Inc. (NASDAQ:ATEC) by 18.9% during the 4th quarter, Holdings Channel.com reports. The institutional investor owned 42,697 shares of the medical technology company’s stock after acquiring 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 hedge funds and other institutional investors also recently made changes to their positions in the business. Vanguard Group Inc. lifted its stake in shares of Alphatec by 1.8% in the 3rd quarter. Vanguard Group Inc. now owns 4,615,223 shares of the medical technology company’s stock valued at $59,859,000 after purchasing an additional 80,101 shares during the period. American Century Companies Inc. lifted its holdings in shares of Alphatec by 24.5% during the third quarter. American Century Companies Inc. now owns 2,655,328 shares of the medical technology company’s stock valued at $34,440,000 after purchasing an additional 523,323 shares during the last quarter. Fred Alger Management LLC boosted its position in shares of Alphatec by 48.9% in the 3rd quarter. Fred Alger Management LLC now owns 2,336,718 shares of the medical technology company’s stock worth $30,307,000 after purchasing an additional 767,280 shares in the last quarter. Cerity Partners LLC bought a new position in Alphatec during the 4th quarter valued at approximately $28,451,000. Finally, Assenagon Asset Management S.A. boosted its holdings in Alphatec by 10.5% in the third quarter. Assenagon Asset Management S.A. now owns 1,587,516 shares of the medical technology company’s stock worth $20,590,000 after acquiring an additional 151,249 shares in the last quarter. Institutional investors own 66.35% of the company’s stock.

Alphatec Trading Up 7.0 %

Shares of Alphatec stock opened at $11.34 on Friday. Alphatec Holdings, Inc. has a 1-year low of $8.66 and a 1-year high of $19.14. The company’s fifty day simple moving average is $13.21 and its 200-day simple moving average is $13.53. The stock has a market capitalization of $1.59 billion, a PE ratio of -7.32 and a beta of 1.48. The company has a debt-to-equity ratio of 6.54, a current ratio of 2.86 and a quick ratio of 1.99.

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

Insider Buying and Selling at Alphatec

In other news, EVP David Sponsel sold 2,500 shares of the stock in a transaction on Wednesday, February 14th. The shares were sold at an average price of $16.16, for a total value of $40,400.00. Following the completion of the sale, the executive vice president now directly owns 637,418 shares of the company’s stock, valued at $10,300,674.88. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In related news, EVP David Sponsel sold 2,500 shares of the stock in a transaction dated 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 sale, the executive vice president now owns 637,418 shares in the company, valued at $10,300,674.88. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO John Todd Koning sold 121,601 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 $1,617,293.30. Following the sale, the chief financial officer now directly owns 430,856 shares in the company, valued at approximately $5,730,384.80. The disclosure for this sale can be found here. Insiders have sold 285,069 shares of company stock valued at $3,971,495 over the last 90 days. 29.12% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

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

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.