Insider Selling: Alphatec (NASDAQ:ATEC) EVP Sells 988 Shares of Stock

Alphatec Holdings, Inc. (NASDAQ:ATEC) EVP David Sponsel sold 988 shares of the company’s stock in a transaction dated Monday, December 8th. The shares were sold at an average price of $21.45, for a total value of $21,192.60. Following the completion of the sale, the executive vice president directly owned 460,873 shares of the company’s stock, valued at approximately $9,885,725.85. This trade represents a 0.21% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink.

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

• On Friday, October 24th, David Sponsel sold 70,000 shares of Alphatec stock. The stock was sold at an average price of $16.18, for a total value of $1,132,600.00.
• On Friday, September 19th, David Sponsel sold 2,555 shares of Alphatec stock. The shares were sold at an average price of $15.34, for a total value of $39,193.70.
• On Thursday, September 18th, David Sponsel sold 137,445 shares of Alphatec stock. The stock was sold at an average price of $15.09, for a total transaction of $2,074,045.05.

Alphatec Stock Performance

Shares of Alphatec stock traded up $0.23 during trading on Wednesday, reaching $20.90. The company’s stock had a trading volume of 3,368,927 shares, compared to its average volume of 2,125,982. The company has a 50-day moving average price of $18.04 and a two-hundred day moving average price of $14.95. Alphatec Holdings, Inc. has a fifty-two week low of $8.69 and a fifty-two week high of $22.66. The firm has a market cap of $3.10 billion, a PE ratio of -20.10 and a beta of 1.08. The company has a current ratio of 1.99, a quick ratio of 1.24 and a debt-to-equity ratio of 43.02.

Alphatec (NASDAQ:ATEC) last issued its quarterly earnings results on Thursday, October 30th. The medical technology company reported $0.03 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.06) by $0.09. The business had revenue of $196.50 million for the quarter, compared to analyst estimates of $182.78 million. During the same quarter in the prior year, the company earned ($0.28) EPS. The firm’s revenue for the quarter was up 30.4% on a year-over-year basis. On average, analysts forecast that Alphatec Holdings, Inc. will post -1.08 EPS for the current year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the business. Aster Capital Management DIFC Ltd purchased a new position in Alphatec in the third quarter worth $34,000. Osterweis Capital Management Inc. purchased a new stake in shares of Alphatec during the 2nd quarter worth $37,000. Nisa Investment Advisors LLC grew its stake in shares of 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 purchasing an additional 1,045 shares during the period. China Universal Asset Management Co. Ltd. acquired a new position in shares of Alphatec during the 3rd quarter worth $73,000. Finally, FORA Capital LLC purchased a new position in shares of Alphatec in the 1st quarter valued at about $102,000. Institutional investors and hedge funds own 66.35% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts recently issued reports on ATEC shares. Piper Sandler reissued an “overweight” rating and set a $25.00 price target (up previously from $20.00) on shares of Alphatec in a report on Friday, October 31st. Canaccord Genuity Group increased their price objective on Alphatec from $20.00 to $25.00 and gave the stock a “buy” rating in a research report on Friday, October 31st. HC Wainwright boosted their target price on Alphatec from $20.00 to $24.00 and gave the company a “buy” rating in a report on Friday, October 31st. Wells Fargo & Company upped their price target on Alphatec from $14.00 to $16.00 and gave the stock an “overweight” rating in a research note on Thursday, October 16th. Finally, JPMorgan Chase & Co. assumed coverage on Alphatec in a report on Friday, October 24th. They set an “overweight” rating and a $19.00 price target for the company. Nine research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $22.45.

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.