David Sponsel Sells 163,452 Shares of Alphatec (NASDAQ:ATEC) Stock

Alphatec Holdings, Inc. (NASDAQ:ATEC) EVP David Sponsel sold 163,452 shares of the firm’s stock in a transaction that occurred on Wednesday, March 11th. The shares were sold at an average price of $12.52, for a total value of $2,046,419.04. Following the sale, the executive vice president owned 504,932 shares of the company’s stock, valued at approximately $6,321,748.64. This trade represents a 24.45% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link.

David Sponsel also recently made the following trade(s):

• On Thursday, February 5th, David Sponsel sold 60,425 shares of Alphatec stock. The shares were sold at an average price of $13.79, for a total value of $833,260.75.

Alphatec Stock Down 1.8%

Shares of Alphatec stock traded down $0.22 on Friday, hitting $12.28. 3,172,135 shares of the company’s stock traded hands, compared to its average volume of 2,586,428. Alphatec Holdings, Inc. has a 52-week low of $8.81 and a 52-week high of $23.29. The company has a quick ratio of 1.28, a current ratio of 2.06 and a debt-to-equity ratio of 40.35. The stock has a market cap of $1.86 billion, a P/E ratio of -12.93 and a beta of 1.02. The firm’s 50-day moving average is $15.11 and its 200 day moving average is $16.88.

Alphatec (NASDAQ:ATEC) last issued its quarterly earnings results on Tuesday, February 24th. The medical technology company reported $0.06 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.04 by $0.02. The company had revenue of $212.93 million during the quarter, compared to the consensus estimate of $212.67 million. The firm’s quarterly revenue was up 20.4% on a year-over-year basis. During the same quarter last year, the firm posted ($0.23) EPS. Equities analysts anticipate that Alphatec Holdings, Inc. will post -1.08 earnings per share for the current year.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on the stock. Stifel Nicolaus cut their target price on shares of Alphatec from $24.00 to $20.00 and set a “buy” rating on the stock in a research note on Monday. Wall Street Zen upgraded Alphatec from a “hold” rating to a “buy” rating in a research note on Saturday, January 31st. TD Cowen restated a “buy” rating on shares of Alphatec in a research note on Tuesday, January 27th. HC Wainwright reaffirmed a “buy” rating and set a $24.00 target price on shares of Alphatec in a report on Monday, January 12th. Finally, Barclays lifted their target price on Alphatec from $23.00 to $27.00 and gave the stock an “overweight” rating in a research report on Wednesday, January 7th. Ten investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $22.82.

Hedge Funds Weigh In On Alphatec

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Voloridge Investment Management LLC acquired a new position in Alphatec during the 4th quarter valued at about $321,000. Susquehanna Portfolio Strategies LLC bought a new position in Alphatec during the 4th quarter valued at $681,000. Numerai GP LLC acquired a new position in shares of Alphatec during the 4th quarter valued at $757,000. Occudo Quantitative Strategies LP raised its stake in shares of Alphatec by 235.4% in the 4th quarter. Occudo Quantitative Strategies LP now owns 269,798 shares of the medical technology company’s stock worth $5,677,000 after buying an additional 189,348 shares in the last quarter. Finally, Millennium Management LLC raised its stake in shares of Alphatec by 292.2% in the 4th quarter. Millennium Management LLC now owns 2,225,927 shares of the medical technology company’s stock worth $46,834,000 after buying an additional 1,658,349 shares in the last quarter. 66.35% of the stock is 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.