125,921 Alphatec Holdings, Inc. $ATEC Shares Sold by Apollon Wealth Management LLC

Key Points

• Apollon Wealth Management cut its Alphatec Holdings stake by 38.9% in the third quarter, selling 125,921 shares and retaining 197,465 shares valued at approximately $2.04 million. Institutional investors and hedge funds collectively own 66.35% of ATEC.
• Alphatec’s latest quarterly results slightly missed expectations, with adjusted EPS of $0.09 versus the $0.10 consensus and revenue of $221.17 million versus $225.16 million expected. Revenue nevertheless increased 12.6% year over year, while analysts expect a full-year loss of $0.45 per share.
• Analyst sentiment remains broadly positive, with a consensus “Moderate Buy” rating and a $17.40 average price target compared with the stock’s reported $11.37 price. CEO Patrick Miles also purchased 115,000 shares, while insiders own 13.48% of the company.

Apollon Wealth Management LLC decreased its holdings in Alphatec Holdings, Inc. (NASDAQ:ATEC - Free Report) by 38.9% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 197,465 shares of the medical technology company's stock after selling 125,921 shares during the quarter. Apollon Wealth Management LLC owned approximately 0.13% of Alphatec worth $2,038,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Kopp Family Office LLC lifted its holdings in Alphatec by 0.4% during the 3rd quarter. Kopp Family Office LLC now owns 330,266 shares of the medical technology company's stock worth $3,408,000 after buying an additional 1,303 shares in the last quarter. SG Americas Securities LLC increased its stake in shares of Alphatec by 4.2% in the 1st quarter. SG Americas Securities LLC now owns 67,065 shares of the medical technology company's stock valued at $730,000 after buying an additional 2,675 shares during the period. Summit Securities Group LLC acquired a new stake in shares of Alphatec in the 1st quarter valued at $29,000. Valeo Financial Advisors LLC increased its stake in shares of Alphatec by 7.2% in the 2nd quarter. Valeo Financial Advisors LLC now owns 44,363 shares of the medical technology company's stock valued at $384,000 after buying an additional 2,967 shares during the period. Finally, Allworth Financial LP raised its position in shares of Alphatec by 82.6% during the second quarter. Allworth Financial LP now owns 6,666 shares of the medical technology company's stock worth $58,000 after acquiring an additional 3,015 shares during the last quarter. Institutional investors and hedge funds own 66.35% of the company's stock.

Alphatec Stock Down 0.7%

Shares of ATEC stock opened at $11.37 on Friday. The firm has a fifty day moving average of $10.18 and a 200-day moving average of $10.67. Alphatec Holdings, Inc. has a 12-month low of $6.82 and a 12-month high of $23.29. The company has a market capitalization of $1.76 billion, a price-to-earnings ratio of -16.01 and a beta of 0.78.

Alphatec (NASDAQ:ATEC - Get Free Report) last issued its quarterly earnings data on Thursday, October 29th. The medical technology company reported $0.09 EPS for the quarter, missing analysts' consensus estimates of $0.10 by ($0.01). The company had revenue of $221.17 million for the quarter, compared to analyst estimates of $225.16 million. Alphatec had a negative return on equity of 6,752.24% and a negative net margin of 13.49%. The company's revenue was up 12.6% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.03 earnings per share. On average, equities analysts expect that Alphatec Holdings, Inc. will post -0.45 EPS for the current year.

Analyst Ratings Changes

A number of research firms have issued reports on ATEC. Stephens began coverage on shares of Alphatec in a research report on Thursday, July 23rd. They set an "overweight" rating and a $15.00 target price on the stock. Wall Street Zen cut shares of Alphatec from a "buy" rating to a "hold" rating in a research report on Sunday, October 11th. UBS Group lifted their price target on shares of Alphatec from $15.00 to $16.00 and gave the stock a "buy" rating in a research report on Wednesday, August 5th. Stifel Nicolaus dropped their price target on shares of Alphatec from $16.00 to $13.00 and set a "buy" rating for the company in a research note on Wednesday, July 8th. Finally, BMO Capital Markets increased their price objective on shares of Alphatec from $11.00 to $12.00 and gave the company an "outperform" rating in a report on Wednesday, August 5th. Thirteen equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $17.40.

Insider Transactions at Alphatec

In related news, CEO Patrick Miles acquired 115,000 shares of the business's stock in a transaction dated Thursday, September 10th. The stock was bought at an average price of $8.81 per share, with a total value of $1,013,150.00. Following the acquisition, the chief executive officer owned 5,893,551 shares in the company, valued at $51,922,184.31. This represents a 1.99% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, General Counsel Tyson Marshall sold 8,168 shares of the firm's stock in a transaction on Wednesday, August 5th. The shares were sold at an average price of $9.65, for a total transaction of $78,821.20. Following the completion of the transaction, the general counsel directly owned 630,398 shares of the company's stock, valued at $6,083,340.70. This represents a 1.28% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 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. 13.48% of the stock is currently owned by insiders.

Alphatec Company 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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