625,800 Shares in Alphatec Holdings, Inc. (NASDAQ:ATEC) Bought by Motley Fool Asset Management LLC

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 first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor 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 filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently bought and sold shares of ATEC. Geode Capital Management LLC boosted its stake in shares of Alphatec by 1.0% in the fourth quarter. Geode Capital Management LLC now owns 2,387,162 shares of the medical technology company's stock worth $21,919,000 after acquiring an additional 24,283 shares during the period. Russell Investments Group Ltd. raised its position in Alphatec by 20.0% during the fourth quarter. Russell Investments Group Ltd. now owns 199,886 shares of the medical technology company's stock valued at $1,835,000 after purchasing an additional 33,362 shares during the period. Legal & General Group Plc raised its position in Alphatec by 3.2% during the fourth quarter. Legal & General Group Plc now owns 113,417 shares of the medical technology company's stock valued at $1,041,000 after purchasing an additional 3,529 shares during the period. Renaissance Technologies LLC raised its position in Alphatec by 106.3% during the fourth quarter. Renaissance Technologies LLC now owns 292,100 shares of the medical technology company's stock valued at $2,681,000 after purchasing an additional 150,500 shares during the period. Finally, Raymond James Financial Inc. purchased a new stake in shares of Alphatec in the fourth quarter worth approximately $358,000. Hedge funds and other institutional investors own 66.35% of the company's stock.

Alphatec Stock Up 0.5%

Shares of NASDAQ ATEC traded up $0.08 during mid-day trading on Wednesday, hitting $15.80. The company had a trading volume of 2,391,483 shares, compared to its average volume of 2,979,297. The company has a market capitalization of $2.34 billion, a PE ratio of -13.98 and a beta of 1.05. The company has a debt-to-equity ratio of 23.22, a current ratio of 2.88 and a quick ratio of 1.77. Alphatec Holdings, Inc. has a 1-year low of $4.88 and a 1-year high of $16.02. The business's 50-day simple moving average is $11.82 and its 200 day simple moving average is $11.37.

Alphatec (NASDAQ:ATEC - Get Free Report) last issued its quarterly earnings data 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 return on equity of 1,657.19% and a negative net margin of 24.33%. The company had revenue of $185.54 million for the quarter, compared to analyst estimates of $178.85 million. During the same quarter last year, the company posted ($0.29) earnings per share. The business's quarterly revenue was up 27.5% compared to the same quarter last year. On average, analysts predict that Alphatec Holdings, Inc. will post -1.08 earnings per share for the current year.

Analysts Set New Price Targets

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

Insiders Place Their Bets

In other news, COO Scott Lish sold 16,666 shares of Alphatec stock in a transaction that occurred on Tuesday, August 5th. The shares were sold at an average price of $15.00, for a total transaction of $249,990.00. Following the completion of the sale, the chief operating officer directly owned 674,332 shares in the company, valued at approximately $10,114,980. This trade represents a 2.41% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Craig E. Hunsaker sold 10,876 shares of Alphatec stock in a transaction that occurred on Wednesday, August 6th. The stock was sold at an average price of $15.33, for a total value of $166,729.08. Following the transaction, the executive vice president owned 1,389,142 shares of the company's stock, valued at $21,295,546.86. This represents a 0.78% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 449,997 shares of company stock worth $5,846,616 over the last quarter. 20.90% of the stock is owned by company insiders.

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.