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 firm’s stock in a transaction that occurred on 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 owned 5,135,398 shares in the company, valued at $107,894,711.98. This represents a 1.91% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink.

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

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

Alphatec Trading Up 2.8%

Shares of ATEC stock traded up $0.59 during mid-day trading on Tuesday, reaching $21.79. The stock had a trading volume of 2,402,868 shares, compared to its average volume of 1,915,389. The firm has a market capitalization of $3.24 billion, a PE ratio of -20.95 and a beta of 1.01. The stock’s 50-day moving average price is $20.33 and its two-hundred day moving average price is $16.10. The company has a current ratio of 1.99, a quick ratio of 1.24 and a debt-to-equity ratio of 43.02. Alphatec Holdings, Inc. has a 52-week low of $8.81 and a 52-week high of $22.66.

Alphatec (NASDAQ:ATEC) last posted its 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 analysts’ expectations of $182.78 million. The business’s revenue for the quarter was up 30.4% on a year-over-year basis. During the same quarter in the prior year, the company posted ($0.28) earnings per share. Equities analysts expect that Alphatec Holdings, Inc. will post -1.08 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Alphatec

Several institutional investors and hedge funds have recently added to or reduced their stakes in ATEC. AQR Capital Management LLC grew its position in shares of Alphatec by 7.6% in the 1st quarter. AQR Capital Management LLC now owns 676,897 shares of the medical technology company’s stock worth $6,864,000 after buying an additional 47,939 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in Alphatec by 4.5% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 74,005 shares of the medical technology company’s stock worth $750,000 after purchasing an additional 3,196 shares during the period. Dynamic Technology Lab Private Ltd purchased a new stake in Alphatec in the first quarter worth about $257,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its stake in shares of Alphatec by 18.4% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 265,907 shares of the medical technology company’s stock valued at $2,696,000 after purchasing an additional 41,264 shares in the last quarter. Finally, Belpointe Asset Management LLC lifted its holdings in shares of Alphatec by 23.3% during the first quarter. Belpointe Asset Management LLC now owns 18,500 shares of the medical technology company’s stock valued at $188,000 after purchasing an additional 3,500 shares during the last quarter. Hedge funds and other institutional investors own 66.35% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on ATEC. Lake Street Capital set a $25.00 target price on Alphatec and gave the company a “buy” rating in a research note on Friday, October 31st. Needham & Company LLC lifted their price target on shares of Alphatec from $16.00 to $22.00 and gave the company a “buy” rating in a report on Friday, October 31st. HC Wainwright boosted their price objective on shares of Alphatec from $20.00 to $24.00 and gave the company a “buy” rating in a research report on Friday, October 31st. Loop Capital set a $25.00 target price on shares of Alphatec in a research report on Wednesday, December 10th. Finally, Canaccord Genuity Group lifted their target price on shares of Alphatec from $20.00 to $25.00 and gave the company a “buy” rating in a research note on Friday, October 31st. Nine equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $22.45.

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.