Alphatec Holdings, Inc. (NASDAQ:ATEC) CEO Patrick Miles Sells 32,393 Shares

Alphatec Holdings, Inc. (NASDAQ:ATEC) CEO Patrick Miles sold 32,393 shares of the firm’s stock in a transaction dated Wednesday, February 26th. The stock was sold at an average price of $10.89, for a total transaction of $352,759.77. Following the completion of the transaction, the chief executive officer now directly owns 5,940,391 shares in the company, valued at $64,690,857.99. This represents a 0.54 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink.

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

• On Wednesday, February 5th, Patrick Miles sold 43,459 shares of Alphatec stock. The stock was sold at an average price of $11.95, for a total transaction of $519,335.05.
• On Wednesday, January 29th, Patrick Miles sold 50,000 shares of Alphatec stock. The stock was sold at an average price of $12.03, for a total transaction of $601,500.00.
• On Tuesday, January 21st, Patrick Miles sold 6,687 shares of Alphatec stock. The stock was sold at an average price of $12.00, for a total transaction of $80,244.00.

Alphatec Price Performance

Shares of NASDAQ:ATEC opened at $12.53 on Friday. Alphatec Holdings, Inc. has a 12 month low of $4.88 and a 12 month high of $14.88. The stock has a market cap of $1.78 billion, a price-to-earnings ratio of -9.79 and a beta of 1.43. The stock’s 50 day moving average price is $10.63 and its 200 day moving average price is $8.37. The company has a debt-to-equity ratio of 30.21, a current ratio of 2.32 and a quick ratio of 1.15.

Alphatec (NASDAQ:ATEC) last announced its earnings results on Wednesday, February 26th. The medical technology company reported ($0.23) EPS for the quarter, missing the consensus estimate of ($0.19) by ($0.04). Alphatec had a negative return on equity of 541.39% and a negative net margin of 31.06%. The firm had revenue of $176.79 million for the quarter, compared to the consensus estimate of $172.74 million. Equities research analysts anticipate that Alphatec Holdings, Inc. will post -1.08 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

ATEC has been the topic of a number of recent analyst reports. StockNews.com raised Alphatec from a “sell” rating to a “hold” rating in a report on Friday. Piper Sandler lifted their price target on Alphatec from $12.00 to $13.00 and gave the company an “overweight” rating in a report on Thursday. Barclays lifted their price target on Alphatec from $20.00 to $21.00 and gave the company an “overweight” rating in a report on Wednesday, January 22nd. HC Wainwright reaffirmed a “buy” rating and set a $20.00 price target on shares of Alphatec in a report on Tuesday, January 14th. Finally, Needham & Company LLC reaffirmed a “buy” rating and set a $16.00 price target on shares of Alphatec in a report on Thursday. Two analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $17.67.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in ATEC. R Squared Ltd acquired a new position in Alphatec in the fourth quarter worth approximately $29,000. Comerica Bank grew its position in Alphatec by 66.8% in the fourth quarter. Comerica Bank now owns 3,116 shares of the medical technology company’s stock worth $29,000 after buying an additional 1,248 shares during the last quarter. Nisa Investment Advisors LLC grew its position in Alphatec by 973.3% in the fourth quarter. Nisa Investment Advisors LLC now owns 4,669 shares of the medical technology company’s stock worth $43,000 after buying an additional 4,234 shares during the last quarter. Quarry LP grew its position in Alphatec by 79.2% in the fourth quarter. Quarry LP now owns 5,374 shares of the medical technology company’s stock worth $49,000 after buying an additional 2,375 shares during the last quarter. Finally, Newton One Investments LLC acquired a new position in Alphatec in the fourth quarter worth approximately $50,000. Institutional investors and hedge funds own 66.35% of the company’s stock.

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.