Motley Fool Asset Management LLC Purchases Shares of 625,800 Alphatec Holdings, Inc. (NASDAQ:ATEC)

Key Points

• Motley Fool Asset Management LLC acquired a new stake in Alphatec Holdings, purchasing 625,800 shares valued at approximately $6.3 million, increasing its ownership to about 0.43% as of its latest SEC filing.
• Alphatec reported $0.02 earnings per share for the last quarter, beating analysts’ expectations by $0.08, with revenue reaching $185.54 million—up 27.5% year-over-year.
• Recent upgrades from analysts have given Alphatec a buy rating with average target prices ranging from $15 to $20, indicating a positive outlook for the company's future performance.

Motley Fool Asset Management LLC acquired a new stake in shares of Alphatec Holdings, Inc. (NASDAQ:ATEC - Free Report) in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 625,800 shares of the medical technology company's stock, valued at approximately $6,346,000. Motley Fool Asset Management LLC owned about 0.43% of Alphatec as of its most recent SEC filing.

Other hedge funds have also bought and sold shares of the company. Wealth Enhancement Advisory Services LLC increased its position in Alphatec by 301.0% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 59,987 shares of the medical technology company's stock valued at $608,000 after acquiring an additional 45,027 shares during the last quarter. GAMMA Investing LLC increased its position in Alphatec by 38,433.3% during the first quarter. GAMMA Investing LLC now owns 2,312 shares of the medical technology company's stock valued at $228,000 after acquiring an additional 2,306 shares during the last quarter. SG Americas Securities LLC increased its position in Alphatec by 28.3% during the first quarter. SG Americas Securities LLC now owns 56,927 shares of the medical technology company's stock valued at $577,000 after acquiring an additional 12,553 shares during the last quarter. Oppenheimer Asset Management Inc. increased its position in Alphatec by 13.4% during the first quarter. Oppenheimer Asset Management Inc. now owns 13,144 shares of the medical technology company's stock valued at $133,000 after acquiring an additional 1,552 shares during the last quarter. Finally, Rhumbline Advisers increased its position in Alphatec by 6.9% during the first quarter. Rhumbline Advisers now owns 148,749 shares of the medical technology company's stock valued at $1,508,000 after acquiring an additional 9,661 shares during the last quarter. Institutional investors own 66.35% of the company's stock.

Analyst Ratings Changes

A number of research analysts have weighed in on the stock. Wall Street Zen upgraded shares of Alphatec from a "hold" rating to a "buy" rating in a research report on Saturday, August 9th. Lake Street Capital raised shares of Alphatec to a "buy" rating and set a $18.00 price target on the stock in a research note on Monday, June 16th. Needham & Company LLC reiterated a "buy" rating and set a $16.00 price objective on shares of Alphatec in a report on Friday, May 2nd. Piper Sandler reiterated an "overweight" rating and set a $15.00 price objective (up previously from $13.00) on shares of Alphatec in a report on Friday, May 2nd. Finally, Canaccord Genuity Group reiterated a "buy" rating and set a $20.00 price objective on shares of Alphatec in a report on Friday, August 1st. Seven investment analysts have rated the stock with a buy rating, According to data from MarketBeat.com, Alphatec currently has a consensus rating of "Buy" and a consensus target price of $18.50.

Insiders Place Their Bets

In other Alphatec news, EVP Craig E. Hunsaker sold 186,122 shares of the stock in a transaction dated Wednesday, June 4th. The shares were sold at an average price of $12.34, for a total transaction of $2,296,745.48. Following the completion of the sale, the executive vice president directly owned 1,463,896 shares of the company's stock, valued at approximately $18,064,476.64. This represents a 11.28% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, COO Scott Lish sold 55,375 shares of the stock in a transaction dated Monday, May 19th. The shares were sold at an average price of $13.00, for a total transaction of $719,875.00. Following the sale, the chief operating officer directly owned 771,645 shares of the company's stock, valued at approximately $10,031,385. The trade was a 6.70% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 449,997 shares of company stock worth $5,846,616 in the last three months. Corporate insiders own 20.90% of the company's stock.

Alphatec Stock Up 0.2%

Alphatec stock traded up $0.03 during midday trading on Friday, hitting $15.60. 683,231 shares of the company's stock were exchanged, compared to its average volume of 2,069,140. The company has a debt-to-equity ratio of 23.22, a quick ratio of 1.77 and a current ratio of 2.88. Alphatec Holdings, Inc. has a 12 month low of $4.88 and a 12 month high of $16.01. The firm has a 50-day moving average of $11.88 and a two-hundred day moving average of $11.40. The company has a market cap of $2.31 billion, a PE ratio of -13.81 and a beta of 1.05.

Alphatec (NASDAQ:ATEC - Get Free Report) last issued its earnings results on Thursday, July 31st. The medical technology company reported $0.02 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.06) by $0.08. Alphatec had a negative net margin of 24.33% and a negative return on equity of 1,657.19%. The company had revenue of $185.54 million for the quarter, compared to analysts' expectations of $178.85 million. During the same period in the prior year, the business earned ($0.29) EPS. The firm's quarterly revenue was up 27.5% on a year-over-year basis. As a group, analysts expect that Alphatec Holdings, Inc. will post -1.08 earnings per share for the current fiscal year.

About Alphatec

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.