Insider Selling: Alphatec Holdings, Inc. (NASDAQ:ATEC) CEO Sells $135,032.24 in Stock

Alphatec Holdings, Inc. (NASDAQ:ATEC) CEO Patrick Miles sold 12,691 shares of the business’s stock in a transaction that occurred on Friday, March 7th. The stock was sold at an average price of $10.64, for a total transaction of $135,032.24. Following the completion of the transaction, the chief executive officer now owns 5,857,603 shares of the company’s stock, valued at approximately $62,324,895.92. The trade was a 0.22 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

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

• On Wednesday, February 26th, Patrick Miles sold 32,393 shares of Alphatec stock. The stock was sold at an average price of $10.89, for a total transaction of $352,759.77.
• On Wednesday, February 5th, Patrick Miles sold 43,459 shares of Alphatec stock. The stock was sold at an average price of $11.95, for a total transaction of $519,335.05.
• On Wednesday, January 29th, Patrick Miles sold 50,000 shares of Alphatec stock. The stock was sold at an average price of $12.03, for a total transaction of $601,500.00.
• On Tuesday, January 21st, Patrick Miles sold 6,687 shares of Alphatec stock. The stock was sold at an average price of $12.00, for a total transaction of $80,244.00.

Alphatec Stock Performance

Shares of NASDAQ:ATEC opened at $10.46 on Monday. The firm has a market cap of $1.51 billion, a PE ratio of -8.17 and a beta of 1.39. The firm’s 50 day simple moving average is $10.91 and its 200-day simple moving average is $8.64. Alphatec Holdings, Inc. has a one year low of $4.88 and a one year high of $14.88. The company has a debt-to-equity ratio of 30.21, a quick ratio of 1.15 and a current ratio of 2.32.

Alphatec (NASDAQ:ATEC) last issued its earnings results on Wednesday, February 26th. The medical technology company reported ($0.23) EPS for the quarter, missing analysts’ consensus estimates of ($0.19) by ($0.04). The company had revenue of $176.79 million for the quarter, compared to analysts’ expectations of $172.74 million. Alphatec had a negative return on equity of 541.39% and a negative net margin of 31.06%. As a group, equities analysts predict that Alphatec Holdings, Inc. will post -1.08 EPS for the current year.

Wall Street Analysts Forecast Growth

ATEC has been the subject of a number of recent research reports. Barclays boosted their price objective on shares of Alphatec from $20.00 to $21.00 and gave the company an “overweight” rating in a research report on Wednesday, January 22nd. Piper Sandler boosted their price objective on shares of Alphatec from $12.00 to $13.00 and gave the company an “overweight” rating in a research report on Thursday, February 27th. HC Wainwright reissued a “buy” rating and set a $20.00 price objective on shares of Alphatec in a research report on Tuesday, January 14th. Needham & Company LLC reissued a “buy” rating and set a $16.00 price objective on shares of Alphatec in a research report on Thursday, February 27th. Finally, StockNews.com raised shares of Alphatec from a “sell” rating to a “hold” rating in a report on Friday, February 28th. Two research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $17.67.

Hedge Funds Weigh In On Alphatec

Institutional investors have recently bought and sold shares of the business. Comerica Bank increased its holdings in Alphatec by 66.8% during the fourth quarter. Comerica Bank now owns 3,116 shares of the medical technology company’s stock valued at $29,000 after buying an additional 1,248 shares during the period. R Squared Ltd purchased a new position in Alphatec during the fourth quarter valued at approximately $29,000. Nisa Investment Advisors LLC increased its holdings in Alphatec by 973.3% during the fourth quarter. Nisa Investment Advisors LLC now owns 4,669 shares of the medical technology company’s stock valued at $43,000 after buying an additional 4,234 shares during the period. Quarry LP boosted its stake in Alphatec by 79.2% in the fourth quarter. Quarry LP now owns 5,374 shares of the medical technology company’s stock valued at $49,000 after acquiring an additional 2,375 shares in the last quarter. Finally, Newton One Investments LLC acquired a new stake in Alphatec in the fourth quarter valued at approximately $50,000. 66.35% of the stock is owned by hedge funds and other institutional investors.

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.