Alphatec (NASDAQ:ATEC) CEO Sells $2,101,000.00 in Stock

Alphatec Holdings, Inc. (NASDAQ:ATEC) CEO Patrick Miles sold 100,000 shares of the stock in a transaction dated Monday, January 5th. The stock was sold at an average price of $21.01, for a total transaction of $2,101,000.00. Following the completion of the transaction, the chief executive officer directly owned 5,135,398 shares of the company’s stock, valued at $107,894,711.98. This trade represents a 1.91% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website.

Patrick Miles also recently made the following trade(s):

• On Monday, December 1st, Patrick Miles sold 100,000 shares of Alphatec stock. The stock was sold at an average price of $22.11, for a total transaction of $2,211,000.00.
• On Monday, November 3rd, Patrick Miles sold 100,000 shares of Alphatec stock. The shares were sold at an average price of $18.96, for a total transaction of $1,896,000.00.

Alphatec Stock Performance

NASDAQ ATEC opened at $22.68 on Friday. The firm’s fifty day moving average price is $20.67 and its two-hundred day moving average price is $16.26. The stock has a market cap of $3.37 billion, a PE ratio of -21.81 and a beta of 1.01. The company has a debt-to-equity ratio of 43.02, a quick ratio of 1.24 and a current ratio of 1.99. Alphatec Holdings, Inc. has a fifty-two week low of $8.81 and a fifty-two week high of $23.29.

Alphatec (NASDAQ:ATEC) last released its quarterly earnings data on Thursday, October 30th. The medical technology company reported $0.03 earnings per share for the quarter, beating the consensus estimate of ($0.06) by $0.09. The firm had revenue of $196.50 million for the quarter, compared to analyst estimates of $182.78 million. During the same period last year, the business earned ($0.28) EPS. The company’s revenue was up 30.4% compared to the same quarter last year. On average, equities analysts expect that Alphatec Holdings, Inc. will post -1.08 EPS for the current fiscal year.

Analysts Set New Price Targets

Several equities research analysts recently commented on ATEC shares. Morgan Stanley set a $23.00 target price on shares of Alphatec in a research report on Tuesday, December 2nd. Piper Sandler reaffirmed an “overweight” rating and set a $25.00 price target (up previously from $20.00) on shares of Alphatec in a research note on Friday, October 31st. Lake Street Capital set a $25.00 price target on shares of Alphatec and gave the stock a “buy” rating in a report on Friday, October 31st. JPMorgan Chase & Co. started coverage on Alphatec in a report on Friday, October 24th. They issued an “overweight” rating and a $19.00 price objective for the company. Finally, HC Wainwright increased their price target on Alphatec from $20.00 to $24.00 and gave the company a “buy” rating in a research note on Friday, October 31st. Nine investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $22.82.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the business. Creative Planning grew its stake in Alphatec by 0.9% during the third quarter. Creative Planning now owns 58,654 shares of the medical technology company’s stock worth $853,000 after purchasing an additional 534 shares during the period. Valeo Financial Advisors LLC lifted its stake in Alphatec by 2.1% in the third quarter. Valeo Financial Advisors LLC now owns 41,296 shares of the medical technology company’s stock valued at $600,000 after buying an additional 846 shares during the period. Norden Group LLC boosted its holdings in shares of Alphatec by 2.6% during the 3rd quarter. Norden Group LLC now owns 36,676 shares of the medical technology company’s stock worth $533,000 after buying an additional 939 shares in the last quarter. Arizona State Retirement System grew its position in shares of Alphatec by 2.8% during the 3rd quarter. Arizona State Retirement System now owns 34,603 shares of the medical technology company’s stock worth $503,000 after buying an additional 949 shares during the period. Finally, Ameritas Investment Partners Inc. grew its position in shares of Alphatec by 8.8% during the 2nd quarter. Ameritas Investment Partners Inc. now owns 11,845 shares of the medical technology company’s stock worth $131,000 after buying an additional 955 shares during the period. 66.35% of the stock is owned by institutional investors and hedge funds.

About Alphatec

Alphatec Holdings, Inc (NASDAQ: ATEC) is a medical technology company focused on the design, development and commercialization of products for the surgical correction of degenerative spinal conditions. The company’s portfolio centers on interbody implants, biologics, fixation devices and surgical planning tools intended to improve patient outcomes in spinal fusion procedures. Alphatec’s flagship offerings include customizable interbody cages, bone graft materials and specialized instrumentation designed for minimally invasive and open spinal surgeries.

Founded as Alphatec Spine in 1985 and rebranded as Alphatec Holdings in 2018, the company has grown from a single-product organization into a multi-platform innovator in the spine market.