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

Alphatec Holdings, Inc. (NASDAQ:ATEC) CEO Patrick Miles sold 100,000 shares of the stock in a transaction on Monday, January 5th. The shares were sold at an average price of $21.01, for a total value of $2,101,000.00. Following the sale, the chief executive officer owned 5,135,398 shares in the company, valued at approximately $107,894,711.98. This trade represents a 1.91% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link.

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

• On Monday, December 1st, Patrick Miles sold 100,000 shares of Alphatec stock. The shares were sold at an average price of $22.11, for a total value of $2,211,000.00.
• 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.

Alphatec Trading Up 2.8%

Shares of ATEC stock opened at $21.79 on Wednesday. Alphatec Holdings, Inc. has a twelve month low of $8.81 and a twelve month high of $22.66. The company has a market capitalization of $3.24 billion, a price-to-earnings ratio of -20.95 and a beta of 1.01. The firm has a 50-day moving average price of $20.43 and a 200 day moving average price of $16.18. The company has a current ratio of 1.99, a quick ratio of 1.24 and a debt-to-equity ratio of 43.02.

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

Analysts Set New Price Targets

Several analysts have commented on the company. Stifel Nicolaus initiated coverage on Alphatec in a report on Tuesday, October 28th. They issued a “buy” rating and a $20.00 price target for the company. Morgan Stanley set a $23.00 target price on shares of Alphatec in a report on Tuesday, December 2nd. JPMorgan Chase & Co. assumed coverage on shares of Alphatec in a research note on Friday, October 24th. They set an “overweight” rating and a $19.00 price target on the stock. HC Wainwright increased their target price on Alphatec from $20.00 to $24.00 and gave the stock a “buy” rating in a research report on Friday, October 31st. Finally, Piper Sandler restated an “overweight” rating and issued a $25.00 price objective (up from $20.00) on shares of Alphatec in a report on Friday, October 31st. Nine research 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 data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $22.45.

Institutional Investors Weigh In On Alphatec

Large investors have recently added to or reduced their stakes in the company. Aster Capital Management DIFC Ltd purchased a new stake in shares of Alphatec during the third quarter worth about $34,000. Osterweis Capital Management Inc. bought a new stake in shares of Alphatec in the second quarter worth $37,000. Nisa Investment Advisors LLC raised its holdings in Alphatec by 22.4% in the second quarter. Nisa Investment Advisors LLC now owns 5,714 shares of the medical technology company’s stock valued at $63,000 after acquiring an additional 1,045 shares in the last quarter. China Universal Asset Management Co. Ltd. acquired a new stake in Alphatec in the third quarter valued at $73,000. Finally, FNY Investment Advisers LLC bought a new position in Alphatec during the 3rd quarter valued at $74,000. 66.35% of the stock is owned by institutional investors and hedge funds.

Alphatec Company Profile

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.