Insider Selling: Alphatec (NASDAQ:ATEC) EVP Sells $1,030,424.25 in Stock

Alphatec Holdings, Inc. (NASDAQ:ATEC) EVP Craig Hunsaker sold 82,765 shares of Alphatec stock in a transaction that occurred on Monday, March 9th. The shares were sold at an average price of $12.45, for a total transaction of $1,030,424.25. Following the sale, the executive vice president directly owned 1,726,209 shares in the company, valued at $21,491,302.05. This trade represents a 4.58% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.

Alphatec Price Performance

ATEC stock opened at $12.50 on Friday. The stock has a market cap of $1.89 billion, a price-to-earnings ratio of -13.16 and a beta of 1.02. The company has a debt-to-equity ratio of 40.35, a current ratio of 2.06 and a quick ratio of 1.28. The company has a 50 day simple moving average of $15.28 and a 200 day simple moving average of $16.90. Alphatec Holdings, Inc. has a 1 year low of $8.81 and a 1 year high of $23.29.

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

Hedge Funds Weigh In On Alphatec

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in Alphatec by 4.5% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 74,005 shares of the medical technology company’s stock valued at $750,000 after purchasing an additional 3,196 shares during the period. Dynamic Technology Lab Private Ltd acquired a new position in shares of Alphatec in the 1st quarter worth approximately $257,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its stake in shares of Alphatec by 18.4% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 265,907 shares of the medical technology company’s stock valued at $2,696,000 after purchasing an additional 41,264 shares during the last quarter. Teacher Retirement System of Texas boosted its stake in shares of Alphatec by 12.3% in the 2nd quarter. Teacher Retirement System of Texas now owns 17,447 shares of the medical technology company’s stock valued at $194,000 after purchasing an additional 1,912 shares during the last quarter. Finally, Bank of Montreal Can increased its position in shares of Alphatec by 545.7% during the second quarter. Bank of Montreal Can now owns 743,041 shares of the medical technology company’s stock worth $8,248,000 after buying an additional 627,973 shares during the period. 66.35% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on the company. TD Cowen restated a “buy” rating on shares of Alphatec in a research report on Tuesday, January 27th. Barclays lifted their price target on Alphatec from $23.00 to $27.00 and gave the company an “overweight” rating in a research note on Wednesday, January 7th. Morgan Stanley set a $23.00 price objective on Alphatec in a research note on Tuesday, December 2nd. Piper Sandler reiterated an “overweight” rating on shares of Alphatec in a report on Wednesday, February 25th. Finally, Wall Street Zen upgraded shares of Alphatec from a “hold” rating to a “buy” rating in a research report on Saturday, January 31st. Ten research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $22.82.

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.