Insider Selling: Alphatec (NASDAQ:ATEC) COO Sells 260,535 Shares of Stock

Alphatec Holdings, Inc. (NASDAQ:ATEC) COO Scott Lish sold 260,535 shares of the business’s stock in a transaction that occurred on Friday, March 13th. The stock was sold at an average price of $12.30, for a total transaction of $3,204,580.50. Following the completion of the transaction, the chief operating officer directly owned 815,704 shares of the company’s stock, valued at approximately $10,033,159.20. This represents a 24.21% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link.

Alphatec Price Performance

Shares of Alphatec stock traded up $0.45 on Tuesday, hitting $13.05. 2,390,256 shares of the company traded hands, compared to its average volume of 3,247,252. The firm’s 50-day simple moving average is $14.93 and its 200 day simple moving average is $16.86. The company has a current ratio of 2.06, a quick ratio of 1.28 and a debt-to-equity ratio of 40.35. The company has a market cap of $1.98 billion, a P/E ratio of -13.74 and a beta of 1.02. Alphatec Holdings, Inc. has a 12-month low of $8.81 and a 12-month high of $23.29.

Alphatec (NASDAQ:ATEC) last announced its earnings results on Tuesday, February 24th. The medical technology company reported $0.06 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.04 by $0.02. The company had revenue of $212.93 million during the quarter, compared to analysts’ expectations of $212.67 million. The firm’s revenue was up 20.4% on a year-over-year basis. During the same quarter last year, the firm posted ($0.23) earnings per share. Analysts expect that Alphatec Holdings, Inc. will post -1.08 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on ATEC shares. Stifel Nicolaus reduced their price objective on Alphatec from $24.00 to $20.00 and set a “buy” rating on the stock in a research report on Monday, March 9th. Piper Sandler reaffirmed an “overweight” rating on shares of Alphatec in a research note on Wednesday, February 25th. Weiss Ratings reiterated a “sell (e+)” rating on shares of Alphatec in a research report on Monday, December 29th. Lake Street Capital reissued a “buy” rating on shares of Alphatec in a research note on Wednesday, February 25th. Finally, HC Wainwright restated a “buy” rating and issued a $24.00 price objective on shares of Alphatec in a report on Monday, January 12th. Ten investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $22.82.

Institutional Investors Weigh In On Alphatec

Institutional investors have recently bought and sold shares of the stock. Aster Capital Management DIFC Ltd bought a new position in shares of Alphatec in the third quarter worth approximately $34,000. Osterweis Capital Management Inc. purchased a new position in shares of Alphatec in the second quarter valued at about $37,000. Northwestern Mutual Wealth Management Co. increased its position in shares of Alphatec by 157.1% in the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 2,571 shares of the medical technology company’s stock valued at $54,000 after acquiring an additional 1,571 shares during the period. China Universal Asset Management Co. Ltd. bought a new position in shares of Alphatec during the third quarter valued at about $73,000. Finally, FNY Investment Advisers LLC purchased a new stake in shares of Alphatec during the third quarter worth about $74,000. 66.35% of the stock is currently owned by hedge funds and other institutional investors.

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.