Alphatec (NASDAQ:ATEC) Stock Price Down 6.6% After Insider Selling

Alphatec Holdings, Inc. (NASDAQ:ATEC) shares traded down 6.6% on Monday following insider selling activity. The company traded as low as $10.44 and last traded at $10.62. 327,314 shares changed hands during trading, a decline of 81% from the average session volume of 1,717,581 shares. The stock had previously closed at $11.36.

Specifically, COO Scott Lish sold 27,453 shares of the company’s stock in a transaction on Thursday, February 6th. The shares were sold at an average price of $11.49, for a total transaction of $315,434.97. Following the transaction, the chief operating officer now directly owns 867,677 shares of the company’s stock, valued at $9,969,608.73. This represents a 3.07 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Patrick Miles sold 43,459 shares of the company’s stock in a transaction on Wednesday, February 5th. The stock was sold at an average price of $11.95, for a total transaction of $519,335.05. Following the transaction, the chief executive officer now directly owns 6,065,772 shares in the company, valued at approximately $72,485,975.40. This trade represents a 0.71 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In other news, EVP David Sponsel sold 36,256 shares of the company’s stock in a transaction on Monday, February 3rd. The shares were sold at an average price of $11.42, for a total transaction of $414,043.52. Following the transaction, the executive vice president now directly owns 735,074 shares of the company’s stock, valued at $8,394,545.08. This represents a 4.70 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink.

Analyst Ratings Changes

ATEC has been the topic of several recent research reports. HC Wainwright reiterated a “buy” rating and issued a $20.00 price objective on shares of Alphatec in a research report on Tuesday, January 14th. Barclays boosted their price objective on shares of Alphatec from $20.00 to $21.00 and gave the stock an “overweight” rating in a research report on Wednesday, January 22nd. Finally, Needham & Company LLC boosted their price objective on shares of Alphatec from $13.00 to $16.00 and gave the stock a “buy” rating in a research report on Monday, January 13th. One analyst has rated the stock with a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $17.56.

Alphatec Stock Performance

The company has a market capitalization of $1.52 billion, a PE ratio of -8.33 and a beta of 1.43. The company has a debt-to-equity ratio of 30.21, a quick ratio of 1.15 and a current ratio of 2.32. The stock’s fifty day simple moving average is $10.27 and its 200-day simple moving average is $8.10.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in ATEC. BNP PARIBAS ASSET MANAGEMENT Holding S.A. grew its position in shares of Alphatec by 11.3% during the third quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 2,928,094 shares of the medical technology company’s stock worth $16,280,000 after buying an additional 297,850 shares in the last quarter. Barclays PLC grew its position in shares of Alphatec by 362.3% during the third quarter. Barclays PLC now owns 170,546 shares of the medical technology company’s stock worth $948,000 after buying an additional 133,653 shares in the last quarter. Franklin Resources Inc. grew its position in shares of Alphatec by 299.3% during the third quarter. Franklin Resources Inc. now owns 64,450 shares of the medical technology company’s stock worth $343,000 after buying an additional 48,308 shares in the last quarter. AlphaCentric Advisors LLC bought a new position in Alphatec during the third quarter worth $2,057,000. Finally, Royce & Associates LP lifted its stake in Alphatec by 15.9% during the third quarter. Royce & Associates LP now owns 1,212,286 shares of the medical technology company’s stock worth $6,740,000 after purchasing an additional 165,954 shares during the last quarter. 66.35% of the stock is currently owned by hedge funds and other institutional investors.

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.