Alphatec Holdings, Inc. $ATEC Shares Sold by Congress Asset Management Co.

Key Points

• Congress Asset Management Co. reduced its stake in Alphatec Holdings by 10.3%, selling 44,777 shares, leaving it with 388,135 shares valued at approximately $4.31 million.
• Several institutional investors, including Nuveen LLC and American Century Companies Inc., have either increased their positions or made new acquisitions in Alphatec, indicating a growing interest in the company, with institutional ownership now at 66.35%.
• Alphatec's stock price recently opened at $15.02, with a reported $0.02 EPS for the last quarter, outperforming expected losses and reflecting a year-over-year revenue increase of 27.5%.

Congress Asset Management Co. decreased its stake in shares of Alphatec Holdings, Inc. (NASDAQ:ATEC - Free Report) by 10.3% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 388,135 shares of the medical technology company's stock after selling 44,777 shares during the period. Congress Asset Management Co. owned 0.27% of Alphatec worth $4,308,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. Nuveen LLC acquired a new stake in Alphatec during the 1st quarter valued at $135,874,000. Vanguard Group Inc. lifted its position in shares of Alphatec by 0.8% in the 1st quarter. Vanguard Group Inc. now owns 6,014,772 shares of the medical technology company's stock worth $60,990,000 after buying an additional 45,792 shares during the last quarter. American Century Companies Inc. lifted its position in Alphatec by 16.9% in the 1st quarter. American Century Companies Inc. now owns 5,830,031 shares of the medical technology company's stock valued at $59,117,000 after purchasing an additional 840,974 shares during the last quarter. Royal Bank of Canada increased its stake in Alphatec by 10.8% during the 1st quarter. Royal Bank of Canada now owns 3,527,939 shares of the medical technology company's stock valued at $35,773,000 after buying an additional 342,656 shares during the period. Finally, Cerity Partners LLC grew its stake in shares of Alphatec by 1.6% in the 1st quarter. Cerity Partners LLC now owns 1,859,137 shares of the medical technology company's stock worth $18,852,000 after purchasing an additional 30,072 shares during the last quarter. Institutional investors and hedge funds own 66.35% of the company's stock.

Insider Buying and Selling

In related news, COO Scott Lish sold 36,081 shares of the business's stock in a transaction dated Friday, August 1st. The stock was sold at an average price of $12.53, for a total value of $452,094.93. Following the completion of the transaction, the chief operating officer owned 708,855 shares of the company's stock, valued at $8,881,953.15. The trade was a 4.84% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Craig E. Hunsaker sold 50,000 shares of the business's stock in a transaction dated Tuesday, August 5th. The shares were sold at an average price of $15.00, for a total value of $750,000.00. Following the completion of the transaction, the executive vice president directly owned 1,400,018 shares of the company's stock, valued at approximately $21,000,270. This trade represents a 3.45% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 686,057 shares of company stock valued at $10,439,311 in the last ninety days. Insiders own 20.90% of the company's stock.

Alphatec Stock Down 2.4%

ATEC stock opened at $15.02 on Friday. The company has a debt-to-equity ratio of 23.22, a current ratio of 2.88 and a quick ratio of 1.77. The stock has a market capitalization of $2.22 billion, a price-to-earnings ratio of -13.29 and a beta of 1.02. The business's fifty day moving average price is $14.69 and its two-hundred day moving average price is $12.38. Alphatec Holdings, Inc. has a fifty-two week low of $4.88 and a fifty-two week high of $16.70.

Alphatec (NASDAQ:ATEC - Get Free Report) last posted its quarterly earnings data on Thursday, July 31st. The medical technology company reported $0.02 earnings per share for the quarter, topping the consensus estimate of ($0.06) by $0.08. The firm had revenue of $185.54 million for the quarter, compared to analysts' expectations of $178.85 million. Alphatec had a negative return on equity of 1,657.19% and a negative net margin of 24.33%.The company's quarterly revenue was up 27.5% compared to the same quarter last year. During the same quarter last year, the business earned ($0.29) EPS. Alphatec has set its FY 2025 guidance at EPS. On average, equities analysts anticipate that Alphatec Holdings, Inc. will post -1.08 earnings per share for the current year.

Wall Street Analyst Weigh In

ATEC has been the subject of several research reports. Canaccord Genuity Group restated a "buy" rating and set a $20.00 price target on shares of Alphatec in a report on Friday, August 1st. Barclays restated an "overweight" rating and issued a $22.00 target price (up previously from $21.00) on shares of Alphatec in a research note on Monday, August 4th. Wall Street Zen cut Alphatec from a "buy" rating to a "hold" rating in a research note on Friday. Finally, Lake Street Capital raised Alphatec to a "buy" rating and set a $18.00 target price for the company in a research note on Monday, June 16th. Six analysts have rated the stock with a Buy rating, According to data from MarketBeat, the stock presently has an average rating of "Buy" and an average price target of $18.50.

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.

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