Alphatec (NASDAQ:ATEC) CEO Patrick Miles Sells 100,000 Shares

Alphatec Holdings, Inc. (NASDAQ:ATEC) CEO Patrick Miles sold 100,000 shares of Alphatec stock in a transaction dated Monday, January 5th. The shares were sold at an average price of $21.01, for a total value of $2,101,000.00. Following the transaction, the chief executive officer directly owned 5,135,398 shares of the company’s stock, valued at $107,894,711.98. The trade was a 1.91% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.

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 shares were sold at an average price of $18.96, for a total transaction of $1,896,000.00.

Alphatec Price Performance

NASDAQ ATEC traded up $0.59 on Tuesday, hitting $21.79. The stock had a trading volume of 2,402,868 shares, compared to its average volume of 1,915,389. Alphatec Holdings, Inc. has a 52-week low of $8.81 and a 52-week high of $22.66. The company has a debt-to-equity ratio of 43.02, a quick ratio of 1.24 and a current ratio of 1.99. The company has a market capitalization of $3.24 billion, a price-to-earnings ratio of -20.95 and a beta of 1.01. The firm has a 50-day moving average of $20.33 and a 200-day moving average of $16.10.

Alphatec (NASDAQ:ATEC) last released its quarterly earnings results on Thursday, October 30th. The medical technology company reported $0.03 EPS for the quarter, beating 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 firm’s revenue for the quarter was up 30.4% on a year-over-year basis. During the same quarter last year, the firm earned ($0.28) earnings per share. Equities analysts expect that Alphatec Holdings, Inc. will post -1.08 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on ATEC. Wall Street Zen raised shares of Alphatec from a “hold” rating to a “buy” rating in a research note on Saturday. HC Wainwright raised 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. Weiss Ratings reiterated a “sell (e+)” rating on shares of Alphatec in a research report on Monday, December 29th. Morgan Stanley set a $23.00 target price on Alphatec in a research note on Tuesday, December 2nd. Finally, Stifel Nicolaus initiated coverage on Alphatec in a research report on Tuesday, October 28th. They set a “buy” rating and a $20.00 price target on the stock. Nine research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $22.45.

Institutional Trading of Alphatec

Several hedge funds have recently added to or reduced their stakes in ATEC. Aster Capital Management DIFC Ltd purchased a new stake in Alphatec during the third quarter valued at about $34,000. Osterweis Capital Management Inc. bought a new stake in shares of Alphatec in the 2nd quarter valued at about $37,000. China Universal Asset Management Co. Ltd. purchased a new stake in Alphatec during the 3rd quarter valued at about $73,000. FNY Investment Advisers LLC purchased a new stake in Alphatec during the 3rd quarter valued at about $74,000. Finally, Nisa Investment Advisors LLC grew its position in Alphatec by 22.4% during the 2nd quarter. Nisa Investment Advisors LLC now owns 5,714 shares of the medical technology company’s stock worth $63,000 after acquiring an additional 1,045 shares during the last quarter. 66.35% of the stock is owned by institutional investors.

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.