Alphatec (NASDAQ:ATEC) Director Sells $4,688,719.20 in Stock

Alphatec Holdings, Inc. (NASDAQ:ATEC) Director David Pelizzon sold 221,166 shares of the business’s stock in a transaction dated Monday, December 8th. The shares were sold at an average price of $21.20, for a total value of $4,688,719.20. Following the completion of the sale, the director directly owned 10,673,879 shares of the company’s stock, valued at approximately $226,286,234.80. This represents a 2.03% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.

Alphatec Stock Performance

NASDAQ:ATEC traded up $0.23 during trading hours on Wednesday, reaching $20.90. 3,368,927 shares of the stock were exchanged, compared to its average volume of 2,125,982. The stock has a market capitalization of $3.10 billion, a P/E ratio of -20.10 and a beta of 1.08. The firm has a 50 day simple moving average of $18.04 and a 200-day simple moving average of $14.95. The company has a quick ratio of 1.24, a current ratio of 1.99 and a debt-to-equity ratio of 43.02. Alphatec Holdings, Inc. has a 52 week low of $8.69 and a 52 week high of $22.66.

Alphatec (NASDAQ:ATEC) last posted its quarterly earnings results on Thursday, October 30th. The medical technology company reported $0.03 earnings per share (EPS) for the quarter, beating 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. The business’s revenue was up 30.4% on a year-over-year basis. During the same period in the prior year, the company posted ($0.28) earnings per share. As a group, sell-side analysts forecast that Alphatec Holdings, Inc. will post -1.08 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of ATEC. LPL Financial LLC raised its stake in shares of Alphatec by 1.2% during the first quarter. LPL Financial LLC now owns 418,061 shares of the medical technology company’s stock valued at $4,211,000 after purchasing an additional 4,826 shares in the last quarter. Vanguard Group Inc. raised its position in shares of Alphatec by 0.8% during the 1st quarter. Vanguard Group Inc. now owns 6,014,772 shares of the medical technology company’s stock worth $60,990,000 after buying an additional 45,792 shares in the last quarter. Deutsche Bank AG lifted its stake in shares of Alphatec by 11.8% in the 1st quarter. Deutsche Bank AG now owns 1,185,235 shares of the medical technology company’s stock worth $12,018,000 after acquiring an additional 124,785 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. boosted its holdings in shares of Alphatec by 4.6% in the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 40,734 shares of the medical technology company’s stock valued at $413,000 after acquiring an additional 1,792 shares in the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. acquired a new position in shares of Alphatec during the first quarter valued at approximately $973,000. Institutional investors own 66.35% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on ATEC shares. JPMorgan Chase & Co. started coverage on shares of Alphatec in a report on Friday, October 24th. They issued an “overweight” rating and a $19.00 price target for the company. Barclays raised their target price on shares of Alphatec from $22.00 to $23.00 and gave the stock an “overweight” rating in a report on Monday, November 3rd. Lake Street Capital set a $25.00 target price on Alphatec and gave the company a “buy” rating in a report on Friday, October 31st. Weiss Ratings reiterated a “sell (e+)” rating on shares of Alphatec in a research report on Monday. Finally, HC Wainwright boosted their price objective on Alphatec from $20.00 to $24.00 and gave the company a “buy” rating in a research report on Friday, October 31st. Nine equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $22.45.

Alphatec Company Profile

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.