107,776 Alphatec Holdings, Inc. $ATEC Shares Sold by Motley Fool Asset Management LLC

Key Points

• Motley Fool Asset Management reduced its Alphatec stake by 15.9%, selling 107,776 shares in the third quarter and retaining 569,046 shares valued at approximately $5.9 million.
• Institutional ownership remains significant at 66.35%, with several major investors initiating or expanding positions, including Bank of America and Arrowstreet Capital.
• Alphatec reported quarterly revenue of $213.5 million, up 15.1% year over year, while analysts maintain a “Moderate Buy” consensus and an average price target of $17.40 versus the recent $11.45 share price.

Motley Fool Asset Management LLC lessened its position in Alphatec Holdings, Inc. (NASDAQ:ATEC - Free Report) by 15.9% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 569,046 shares of the medical technology company's stock after selling 107,776 shares during the quarter. Motley Fool Asset Management LLC's holdings in Alphatec were worth $5,873,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors also recently bought and sold shares of the company. Paradigm Capital Management Inc. NY bought a new stake in Alphatec in the second quarter worth $9,413,000. Bank of America Corp DE grew its stake in shares of Alphatec by 26.9% during the 1st quarter. Bank of America Corp DE now owns 2,560,971 shares of the medical technology company's stock valued at $27,863,000 after purchasing an additional 543,059 shares during the period. Bank of New York Mellon Corp bought a new stake in Alphatec during the second quarter valued at approximately $3,092,000. Great Lakes Advisors LLC bought a new stake in shares of Alphatec during the 2nd quarter valued at $2,423,000. Finally, Arrowstreet Capital Limited Partnership increased its stake in shares of Alphatec by 102.3% in the 1st quarter. Arrowstreet Capital Limited Partnership now owns 507,017 shares of the medical technology company's stock worth $5,516,000 after purchasing an additional 256,342 shares in the last quarter. 66.35% of the stock is owned by hedge funds and other institutional investors.

Alphatec Price Performance

Shares of NASDAQ:ATEC opened at $11.45 on Thursday. The company has a market capitalization of $1.77 billion, a P/E ratio of -16.13 and a beta of 0.78. Alphatec Holdings, Inc. has a 1-year low of $6.82 and a 1-year high of $23.29. The firm's 50 day simple moving average is $10.15 and its two-hundred day simple moving average is $10.73.

Alphatec (NASDAQ:ATEC - Get Free Report) last announced its quarterly earnings data on Tuesday, August 4th. The medical technology company reported $0.07 earnings per share (EPS) for the quarter, hitting analysts' consensus estimates of $0.07. The firm had revenue of $213.51 million during the quarter, compared to analysts' expectations of $211.26 million. Alphatec had a negative net margin of 13.49% and a negative return on equity of 6,752.24%. The company's revenue for the quarter was up 15.1% compared to the same quarter last year. During the same period in the prior year, the company posted $0.02 earnings per share. On average, sell-side analysts anticipate that Alphatec Holdings, Inc. will post -0.45 earnings per share for the current fiscal year.

Insider Buying and Selling at Alphatec

In other Alphatec news, CEO Patrick Miles purchased 115,000 shares of the firm's stock in a transaction on Thursday, September 10th. The shares were acquired at an average cost of $8.81 per share, with a total value of $1,013,150.00. Following the completion of the acquisition, the chief executive officer directly owned 5,893,551 shares in the company, valued at $51,922,184.31. The trade was a 1.99% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, General Counsel Tyson Marshall sold 8,168 shares of the business's stock in a transaction dated Wednesday, August 5th. The shares were sold at an average price of $9.65, for a total value of $78,821.20. Following the completion of the transaction, the general counsel owned 630,398 shares in the company, valued at $6,083,340.70. The trade was a 1.28% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Corporate insiders own 13.48% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on ATEC shares. Stifel Nicolaus decreased their target price on Alphatec from $16.00 to $13.00 and set a "buy" rating on the stock in a report on Wednesday, July 8th. BMO Capital Markets boosted their price target on Alphatec from $11.00 to $12.00 and gave the company an "outperform" rating in a report on Wednesday, August 5th. UBS Group boosted their price target on Alphatec from $15.00 to $16.00 and gave the company a "buy" rating in a report on Wednesday, August 5th. Wall Street Zen cut Alphatec from a "buy" rating to a "hold" rating in a research report on Sunday, October 11th. Finally, Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Alphatec in a research note on Monday, August 3rd. Thirteen equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $17.40.

Alphatec Profile

Alphatec Holdings, Inc is a medical technology company focused on the design, development and commercialization of products and procedural solutions for spine surgery. The company aims to improve the treatment of spinal disorders through technologies that support spinal fusion, deformity correction, reconstruction and minimally invasive procedures.

Its portfolio includes spinal implants, surgical instruments, navigation and imaging technologies, and intraoperative monitoring solutions.

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