Alphatec (NASDAQ:ATEC) General Counsel Sells 8,168 Shares of Stock

Alphatec Holdings, Inc. (NASDAQ:ATEC) General Counsel Tyson Eliot Marshall sold 8,168 shares of the stock in a transaction on Wednesday, August 5th. The shares were sold at an average price of $9.65, for a total value of $78,821.20. Following the completion of the transaction, the general counsel directly owned 630,398 shares in the company, valued at approximately $6,083,340.70. This represents a 1.28% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Alphatec Price Performance

ATEC stock traded up $0.10 during mid-day trading on Friday, hitting $9.31. 2,412,646 shares of the stock were exchanged, compared to its average volume of 2,425,268. The company has a debt-to-equity ratio of 40.35, a current ratio of 1.89 and a quick ratio of 1.12. The business has a fifty day moving average price of $8.79 and a 200 day moving average price of $10.70. Alphatec Holdings, Inc. has a 12 month low of $6.82 and a 12 month high of $23.29. The stock has a market capitalization of $1.44 billion, a price-to-earnings ratio of -13.11 and a beta of 0.85.

Alphatec (NASDAQ:ATEC) last posted its quarterly earnings data on Tuesday, August 4th. The medical technology company reported $0.07 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.07. The firm had revenue of $213.51 million during the quarter, compared to analysts’ expectations of $211.26 million. Alphatec had a negative return on equity of 6,752.24% and a negative net margin of 13.49%.The company’s revenue for the quarter was up 15.1% compared to the same quarter last year. During the same period in the prior year, the business earned $0.02 EPS. On average, sell-side analysts anticipate that Alphatec Holdings, Inc. will post -0.44 EPS for the current year.

Analyst Ratings Changes

ATEC has been the topic of a number of recent research reports. Canaccord Genuity Group reduced their price target on shares of Alphatec from $25.00 to $23.00 and set a “buy” rating on the stock in a research report on Wednesday, May 6th. Stephens initiated coverage on shares of Alphatec in a report on Thursday, July 23rd. They issued an “overweight” rating and a $15.00 price objective for the company. JPMorgan Chase & Co. cut their price objective on shares of Alphatec from $24.00 to $16.00 and set an “overweight” rating for the company in a research note on Wednesday, May 6th. Needham & Company LLC reduced their target price on shares of Alphatec from $25.00 to $14.00 and set a “buy” rating on the stock in a report on Wednesday, May 6th. Finally, Stifel Nicolaus decreased their target price on shares of Alphatec from $16.00 to $13.00 and set a “buy” rating on the stock in a research report on Wednesday, July 8th. Thirteen analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $17.40.

Hedge Funds Weigh In On Alphatec

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Bank of New York Mellon Corp bought a new position in shares of Alphatec in the second quarter worth approximately $3,092,000. Handelsbanken Fonder AB purchased a new position in shares of Alphatec in the second quarter worth $427,000. Redhawk Wealth Advisors Inc. raised its holdings in Alphatec by 87.8% during the 2nd quarter. Redhawk Wealth Advisors Inc. now owns 19,412 shares of the medical technology company’s stock valued at $168,000 after buying an additional 9,077 shares during the last quarter. Atlas Brown Inc. bought a new stake in Alphatec during the 2nd quarter valued at $111,000. Finally, Valeo Financial Advisors LLC boosted its position in Alphatec by 7.2% during the 2nd quarter. Valeo Financial Advisors LLC now owns 44,363 shares of the medical technology company’s stock valued at $384,000 after buying an additional 2,967 shares during the period. 66.35% of the stock is currently owned by institutional investors.

Alphatec Company Profile

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.