Alphatec (NASDAQ:ATEC) Director Sells $4,915,000.00 in Stock

Alphatec Holdings, Inc. (NASDAQ:ATEC) Director David Pelizzon sold 250,000 shares of the business’s stock in a transaction dated Tuesday, December 16th. The shares were sold at an average price of $19.66, for a total transaction of $4,915,000.00. Following the completion of the sale, the director directly owned 10,395,045 shares of the company’s stock, valued at approximately $204,366,584.70. The trade was a 2.35% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link.

Alphatec Price Performance

NASDAQ:ATEC traded up $0.30 during trading hours on Thursday, reaching $19.87. 1,203,104 shares of the company were exchanged, compared to its average volume of 2,040,826. The business has a 50 day moving average of $18.90 and a 200 day moving average of $15.29. Alphatec Holdings, Inc. has a 1-year low of $8.70 and a 1-year high of $22.66. The company has a debt-to-equity ratio of 43.02, a current ratio of 1.99 and a quick ratio of 1.24. The company has a market capitalization of $2.95 billion, a P/E ratio of -19.11 and a beta of 1.08.

Alphatec (NASDAQ:ATEC) last issued its quarterly earnings results on Thursday, October 30th. The medical technology company reported $0.03 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.06) by $0.09. The firm had revenue of $196.50 million for the quarter, compared to the consensus estimate of $182.78 million. During the same period last year, the company posted ($0.28) EPS. The business’s revenue was up 30.4% on a year-over-year basis. Research analysts forecast that Alphatec Holdings, Inc. will post -1.08 EPS for the current year.

Institutional Investors Weigh In On Alphatec

Several hedge funds have recently added to or reduced their stakes in the company. Vanguard Group Inc. lifted its stake in Alphatec by 0.8% in the first quarter. Vanguard Group Inc. now owns 6,014,772 shares of the medical technology company’s stock worth $60,990,000 after acquiring an additional 45,792 shares during the period. Invesco Ltd. raised its position in Alphatec by 14.6% in the 1st quarter. Invesco Ltd. now owns 50,845 shares of the medical technology company’s stock worth $516,000 after buying an additional 6,467 shares during the last quarter. Russell Investments Group Ltd. boosted its holdings in Alphatec by 68.3% in the first quarter. Russell Investments Group Ltd. now owns 336,463 shares of the medical technology company’s stock worth $3,412,000 after purchasing an additional 136,577 shares during the last quarter. Aberdeen Group plc increased its position in Alphatec by 5.3% during the first quarter. Aberdeen Group plc now owns 1,131,707 shares of the medical technology company’s stock valued at $11,476,000 after acquiring an additional 56,995 shares during the last quarter. Finally, Northern Trust Corp grew its stake in shares of Alphatec by 3.4% during the 1st quarter. Northern Trust Corp now owns 1,049,469 shares of the medical technology company’s stock valued at $10,642,000 after purchasing an additional 34,726 shares during the period. Institutional investors own 66.35% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages recently commented on ATEC. Wells Fargo & Company upped their target price on Alphatec from $14.00 to $16.00 and gave the company an “overweight” rating in a report on Thursday, October 16th. Morgan Stanley set a $23.00 price target on Alphatec in a report on Tuesday, December 2nd. Lake Street Capital set a $25.00 price target on Alphatec and gave the stock a “buy” rating in a report on Friday, October 31st. JPMorgan Chase & Co. began coverage on shares of Alphatec in a research note on Friday, October 24th. They set an “overweight” rating and a $19.00 target price on the stock. Finally, HC Wainwright boosted their target price on Alphatec from $20.00 to $24.00 and gave the company a “buy” rating in a research report on Friday, October 31st. Nine equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $22.45.

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.