David Pelizzon Sells 250,000 Shares of Alphatec (NASDAQ:ATEC) Stock

Alphatec Holdings, Inc. (NASDAQ:ATEC) Director David Pelizzon sold 250,000 shares of the business’s stock in a transaction dated Tuesday, December 16th. The shares were sold at an average price of $19.66, for a total value of $4,915,000.00. Following the sale, the director directly owned 10,395,045 shares of the company’s stock, valued at approximately $204,366,584.70. This trade represents a 2.35% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link.

Alphatec Stock Performance

NASDAQ ATEC opened at $20.01 on Friday. The company has a debt-to-equity ratio of 43.02, a current ratio of 1.99 and a quick ratio of 1.24. Alphatec Holdings, Inc. has a 1-year low of $8.70 and a 1-year high of $22.66. The firm has a market capitalization of $2.97 billion, a P/E ratio of -19.24 and a beta of 1.08. The business’s 50-day simple moving average is $19.04 and its 200-day simple moving average is $15.34.

Alphatec (NASDAQ:ATEC) last posted its quarterly earnings results on Thursday, October 30th. The medical technology company reported $0.03 EPS for the quarter, beating the consensus estimate of ($0.06) by $0.09. The business had revenue of $196.50 million during the quarter, compared to analysts’ expectations of $182.78 million. The company’s quarterly revenue was up 30.4% on a year-over-year basis. During the same quarter in the previous year, the business posted ($0.28) EPS. Equities analysts predict that Alphatec Holdings, Inc. will post -1.08 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on ATEC shares. Barclays boosted their price objective on Alphatec from $22.00 to $23.00 and gave the stock an “overweight” rating in a research note on Monday, November 3rd. Piper Sandler reissued an “overweight” rating and set a $25.00 price target (up from $20.00) on shares of Alphatec in a research report on Friday, October 31st. Stifel Nicolaus began coverage on shares of Alphatec in a research report on Tuesday, October 28th. They issued a “buy” rating and a $20.00 price objective for the company. Loop Capital set a $25.00 price objective on shares of Alphatec in a research note on Wednesday, December 10th. Finally, Lake Street Capital set a $25.00 target price on shares of Alphatec and gave the company a “buy” rating 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 issued a Sell rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $22.45.

Institutional Investors Weigh In On Alphatec

Several institutional investors and hedge funds have recently bought and sold shares of ATEC. Vanguard Group Inc. boosted its stake in Alphatec by 0.8% in the first quarter. Vanguard Group Inc. now owns 6,014,772 shares of the medical technology company’s stock valued at $60,990,000 after acquiring an additional 45,792 shares during the period. Invesco Ltd. boosted its holdings in shares of Alphatec by 14.6% during the first quarter. Invesco Ltd. now owns 50,845 shares of the medical technology company’s stock valued at $516,000 after acquiring an additional 6,467 shares during the period. Russell Investments Group Ltd. grew its position in shares of Alphatec by 68.3% during the first quarter. Russell Investments Group Ltd. now owns 336,463 shares of the medical technology company’s stock worth $3,412,000 after acquiring an additional 136,577 shares during the last quarter. Aberdeen Group plc increased its holdings in shares of Alphatec by 5.3% in the 1st quarter. Aberdeen Group plc now owns 1,131,707 shares of the medical technology company’s stock worth $11,476,000 after acquiring an additional 56,995 shares during the period. Finally, Northern Trust Corp lifted its position in Alphatec by 3.4% in the 1st quarter. Northern Trust Corp now owns 1,049,469 shares of the medical technology company’s stock valued at $10,642,000 after purchasing an additional 34,726 shares during the last quarter. Institutional investors and hedge funds own 66.35% of the company’s stock.

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.