Insider Selling: Alphatec (NASDAQ:ATEC) EVP Sells $679,050.56 in Stock

Alphatec Holdings, Inc. (NASDAQ:ATEC) EVP Craig Hunsaker sold 32,584 shares of the firm’s stock in a transaction dated Wednesday, December 10th. The shares were sold at an average price of $20.84, for a total value of $679,050.56. Following the transaction, the executive vice president directly owned 1,256,558 shares in the company, valued at approximately $26,186,668.72. This represents a 2.53% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website.

Alphatec Stock Up 0.3%

Shares of ATEC opened at $19.96 on Monday. Alphatec Holdings, Inc. has a 1 year low of $8.69 and a 1 year high of $22.66. The company has a debt-to-equity ratio of 43.02, a current ratio of 1.99 and a quick ratio of 1.24. The stock has a 50 day simple moving average of $18.42 and a two-hundred day simple moving average of $15.12. The firm has a market cap of $2.97 billion, a P/E ratio of -19.19 and a beta of 1.08.

Alphatec (NASDAQ:ATEC) last posted its quarterly earnings results on Thursday, October 30th. The medical technology company reported $0.03 EPS for the quarter, topping the consensus estimate of ($0.06) by $0.09. The business had revenue of $196.50 million for the quarter, compared to analysts’ expectations of $182.78 million. The company’s revenue was up 30.4% compared to the same quarter last year. During the same period last year, the business posted ($0.28) earnings per share. On average, analysts forecast that Alphatec Holdings, Inc. will post -1.08 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the business. Granite Investment Partners LLC increased its position in Alphatec by 320.6% during the 2nd quarter. Granite Investment Partners LLC now owns 1,720,944 shares of the medical technology company’s stock valued at $19,102,000 after purchasing an additional 1,311,748 shares during the period. MetLife Investment Management LLC boosted its stake in shares of Alphatec by 1,818.5% during the 1st quarter. MetLife Investment Management LLC now owns 1,213,943 shares of the medical technology company’s stock valued at $12,309,000 after purchasing an additional 1,150,669 shares in the last quarter. Driehaus Capital Management LLC bought a new stake in shares of Alphatec during the 1st quarter valued at about $10,398,000. American Century Companies Inc. increased its position in shares of Alphatec by 16.9% during the first quarter. American Century Companies Inc. now owns 5,830,031 shares of the medical technology company’s stock valued at $59,117,000 after buying an additional 840,974 shares during the period. Finally, Tudor Investment Corp ET AL raised its stake in Alphatec by 608.4% in the third quarter. Tudor Investment Corp ET AL now owns 900,491 shares of the medical technology company’s stock worth $13,093,000 after buying an additional 773,367 shares in the last quarter. Institutional investors own 66.35% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have weighed in on the stock. Weiss Ratings reissued a “sell (e+)” rating on shares of Alphatec in a research note on Monday, December 8th. Canaccord Genuity Group lifted their price objective on Alphatec from $20.00 to $25.00 and gave the stock a “buy” rating in a report on Friday, October 31st. 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. Needham & Company LLC lifted their price target on Alphatec from $16.00 to $22.00 and gave the stock a “buy” rating in a research note on Friday, October 31st. Finally, Piper Sandler reissued an “overweight” rating and set a $25.00 price objective (up previously from $20.00) on shares of Alphatec in a research note on Friday, October 31st. Nine research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $22.45.

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.