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

Alphatec Holdings, Inc. (NASDAQ:ATEC) CEO Patrick Miles sold 100,000 shares of the business’s stock in a transaction on Monday, December 1st. The shares were sold at an average price of $22.11, for a total transaction of $2,211,000.00. Following the transaction, the chief executive officer owned 5,264,078 shares in the company, valued at approximately $116,388,764.58. This represents a 1.86% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink.

Patrick Miles also recently made the following trade(s):

• On Monday, November 3rd, Patrick Miles sold 100,000 shares of Alphatec stock. The stock was sold at an average price of $18.96, for a total value of $1,896,000.00.
• On Wednesday, October 1st, Patrick Miles sold 100,000 shares of Alphatec stock. The stock was sold at an average price of $13.96, for a total value of $1,396,000.00.

Alphatec Stock Up 0.3%

Shares of ATEC stock traded up $0.06 on Wednesday, hitting $21.23. The company’s stock had a trading volume of 2,097,824 shares, compared to its average volume of 2,127,780. The stock has a market capitalization of $3.15 billion, a price-to-earnings ratio of -20.41 and a beta of 1.08. Alphatec Holdings, Inc. has a fifty-two week low of $8.69 and a fifty-two week high of $22.66. The firm’s fifty day moving average price is $17.54 and its 200-day moving average price is $14.70. The company has a debt-to-equity ratio of 43.02, a current ratio of 1.99 and a quick ratio of 1.24.

Alphatec (NASDAQ:ATEC) last announced its quarterly earnings data on Thursday, October 30th. The medical technology company reported $0.03 earnings per share for the quarter, topping the consensus estimate of ($0.06) by $0.09. The firm had revenue of $196.50 million for the quarter, compared to analyst estimates of $182.78 million. Alphatec’s revenue for the quarter was up 30.4% compared to the same quarter last year. During the same period in the previous year, the business posted ($0.28) EPS. Research analysts anticipate that Alphatec Holdings, Inc. will post -1.08 EPS for the current year.

Institutional Trading of Alphatec

Hedge funds and other institutional investors have recently made changes to their positions in the company. Aster Capital Management DIFC Ltd acquired a new stake in shares of Alphatec in the third quarter valued at about $34,000. Osterweis Capital Management Inc. bought a new stake in Alphatec in the second quarter valued at approximately $37,000. Nisa Investment Advisors LLC increased 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 valued at $63,000 after purchasing an additional 1,045 shares during the period. China Universal Asset Management Co. Ltd. bought a new position in Alphatec during the 3rd quarter worth approximately $73,000. Finally, FORA Capital LLC acquired a new position in shares of Alphatec in the 1st quarter worth approximately $102,000. 66.35% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

ATEC has been the subject of a number of recent analyst reports. Wells Fargo & Company upped their price objective on shares of Alphatec from $14.00 to $16.00 and gave the company an “overweight” rating in a research report on Thursday, October 16th. HC Wainwright increased their price objective on Alphatec from $20.00 to $24.00 and gave the company a “buy” rating in a report on Friday, October 31st. Morgan Stanley set a $23.00 price objective on Alphatec in a research note on Tuesday. Canaccord Genuity Group lifted their target price on shares of Alphatec from $20.00 to $25.00 and gave the stock a “buy” rating in a report on Friday, October 31st. Finally, Weiss Ratings restated a “sell (e+)” rating on shares of Alphatec in a research note on Monday. Nine investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, Alphatec currently has an average rating of “Moderate Buy” and an average target price of $22.20.

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.