Insider Selling: Alphatec (NASDAQ:ATEC) General Counsel Sells $78,821.20 in Stock

Alphatec Holdings, Inc. (NASDAQ:ATEC) General Counsel Tyson Eliot Marshall sold 8,168 shares of the business’s stock in a transaction dated Wednesday, August 5th. The stock was sold at an average price of $9.65, for a total value of $78,821.20. Following the sale, the general counsel owned 630,398 shares in the company, valued at approximately $6,083,340.70. This trade represents a 1.28% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Alphatec Price Performance

Shares of NASDAQ ATEC opened at $9.31 on Monday. The company has a 50 day simple moving average of $8.79 and a 200 day simple moving average of $10.65. The company has a debt-to-equity ratio of 40.35, a current ratio of 1.89 and a quick ratio of 1.07. Alphatec Holdings, Inc. has a 1 year low of $6.82 and a 1 year high of $23.29. The firm has a market cap of $1.44 billion, a PE ratio of -13.11 and a beta of 0.85.

Alphatec (NASDAQ:ATEC) last posted its earnings results on Tuesday, August 4th. The medical technology company reported $0.07 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.07. The firm had revenue of $213.51 million for the quarter, compared to analyst estimates of $211.26 million. Alphatec had a negative net margin of 13.49% and a negative return on equity of 6,752.24%. The company’s revenue for the quarter was up 15.1% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.02 EPS. On average, research analysts forecast that Alphatec Holdings, Inc. will post -0.44 EPS for the current year.

Institutional Investors Weigh In On Alphatec

A number of large investors have recently bought and sold shares of ATEC. Vanguard Group Inc. raised its holdings in shares of Alphatec by 1.0% during the fourth quarter. Vanguard Group Inc. now owns 6,883,626 shares of the medical technology company’s stock valued at $144,831,000 after purchasing an additional 68,568 shares during the period. Morgan Stanley grew its stake in shares of Alphatec by 22.0% in the 4th quarter. Morgan Stanley now owns 4,340,936 shares of the medical technology company’s stock valued at $91,333,000 after buying an additional 784,191 shares during the period. State Street Corp increased its position in Alphatec by 6.4% in the 4th quarter. State Street Corp now owns 2,889,240 shares of the medical technology company’s stock valued at $60,790,000 after buying an additional 174,287 shares in the last quarter. Geode Capital Management LLC increased its position in Alphatec by 1.2% in the 4th quarter. Geode Capital Management LLC now owns 2,828,026 shares of the medical technology company’s stock valued at $59,511,000 after buying an additional 32,465 shares in the last quarter. Finally, Bank of America Corp DE raised its stake in Alphatec by 26.9% during the 1st quarter. Bank of America Corp DE now owns 2,560,971 shares of the medical technology company’s stock worth $27,863,000 after buying an additional 543,059 shares during the period. 66.35% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research analysts have commented on the company. Canaccord Genuity Group cut their target price on Alphatec from $25.00 to $23.00 and set a “buy” rating on the stock in a report on Wednesday, May 6th. Barclays cut their price objective on Alphatec from $27.00 to $24.00 and set an “overweight” rating on the stock in a research note on Thursday, May 7th. Weiss Ratings restated a “sell (d-)” rating on shares of Alphatec in a report on Monday, August 3rd. Lake Street Capital restated a “buy” rating and issued a $15.00 price target on shares of Alphatec in a research report on Wednesday, May 6th. Finally, Wall Street Zen cut shares of Alphatec from a “buy” rating to a “hold” rating in a research report on Sunday, July 12th. Thirteen investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $17.40.

About Alphatec

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.