Insider Buying: Alphatec (NASDAQ:ATEC) CEO Acquires $1,013,150.00 in Stock

Alphatec Holdings, Inc. (NASDAQ:ATEC) CEO Patrick Miles acquired 115,000 shares of the firm’s stock in a transaction dated Thursday, September 10th. The stock was bought at an average price of $8.81 per share, with a total value of $1,013,150.00. Following the purchase, the chief executive officer directly owned 5,893,551 shares in the company, valued at approximately $51,922,184.31. This trade represents a 1.99% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

Alphatec Stock Up 19.7%

ATEC stock opened at $10.58 on Friday. The company’s 50 day moving average price is $9.30 and its 200 day moving average price is $9.81. The company has a debt-to-equity ratio of 40.35, a quick ratio of 1.07 and a current ratio of 1.89. Alphatec Holdings, Inc. has a fifty-two week low of $6.82 and a fifty-two week high of $23.29. The firm has a market capitalization of $1.63 billion, a price-to-earnings ratio of -14.90 and a beta of 0.85.

Alphatec (NASDAQ:ATEC) last issued its earnings results on Tuesday, August 4th. The medical technology company reported $0.07 earnings per share for the quarter, meeting the consensus estimate of $0.07. Alphatec had a negative net margin of 13.49% and a negative return on equity of 6,752.24%. The firm had revenue of $213.51 million for the quarter, compared to analysts’ expectations of $211.26 million. During the same quarter last year, the company earned $0.02 earnings per share. The firm’s revenue was up 15.1% compared to the same quarter last year. On average, equities research analysts anticipate that Alphatec Holdings, Inc. will post -0.45 EPS for the current fiscal year.

Institutional Trading of Alphatec

Large investors have recently made changes to their positions in the company. Summit Securities Group LLC acquired a new position in Alphatec during the first quarter worth approximately $29,000. Osterweis Capital Management Inc. purchased a new position in shares of Alphatec during the second quarter worth approximately $37,000. Integrated Wealth Concepts LLC purchased a new position in shares of Alphatec during the second quarter worth approximately $52,000. Northwestern Mutual Wealth Management Co. increased its holdings in shares of Alphatec by 157.1% in the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 2,571 shares of the medical technology company’s stock valued at $54,000 after acquiring an additional 1,571 shares during the period. Finally, Allworth Financial LP increased its holdings in shares of Alphatec by 82.6% in the 2nd quarter. Allworth Financial LP now owns 6,666 shares of the medical technology company’s stock valued at $58,000 after acquiring an additional 3,015 shares during the period. 66.35% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on the stock. UBS Group lifted their price objective on shares of Alphatec from $15.00 to $16.00 and gave the stock a “buy” rating in a research report on Wednesday, August 5th. BMO Capital Markets raised their price target on Alphatec from $11.00 to $12.00 and gave the company an “outperform” rating in a research note on Wednesday, August 5th. TD Cowen lifted their price target on Alphatec from $11.00 to $13.00 and gave the stock a “buy” rating in a report on Wednesday, August 5th. Wall Street Zen cut Alphatec from a “buy” rating to a “hold” rating in a research report on Sunday, July 12th. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Alphatec in a research report on Monday, August 3rd. Thirteen 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, the stock currently has an average rating of “Moderate Buy” and an average price target of $17.40.

Alphatec Company Profile

Alphatec Holdings, Inc (NASDAQ: ATEC) is a medical technology company focused on improving the surgical treatment of spinal disorders. The company develops and commercializes products designed to support spine surgery, including implants, biologics, surgical instruments and related technologies.

Its portfolio is intended for procedures addressing conditions such as spinal deformities, degenerative disc disease and other disorders affecting the spine. Alphatec emphasizes surgeon-focused solutions and integrated technologies that support preoperative planning, intraoperative decision-making and the placement of spinal implants.

Headquartered in Carlsbad, California, Alphatec serves hospitals, surgeons and other healthcare providers in the United States and select international markets.