Insider Selling: Alphatec (NASDAQ:ATEC) EVP Sells $2,046,419.04 in Stock

Alphatec Holdings, Inc. (NASDAQ:ATEC) EVP David Sponsel sold 163,452 shares of Alphatec stock in a transaction on Wednesday, March 11th. The shares were sold at an average price of $12.52, for a total transaction of $2,046,419.04. Following the completion of the transaction, the executive vice president owned 504,932 shares in the company, valued at approximately $6,321,748.64. This represents a 24.45% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this link.

David Sponsel also recently made the following trade(s):

• On Thursday, February 5th, David Sponsel sold 60,425 shares of Alphatec stock. The shares were sold at an average price of $13.79, for a total transaction of $833,260.75.

Alphatec Stock Performance

NASDAQ ATEC opened at $12.28 on Monday. The company has a quick ratio of 1.28, a current ratio of 2.06 and a debt-to-equity ratio of 40.35. Alphatec Holdings, Inc. has a 52-week low of $8.81 and a 52-week high of $23.29. The business’s 50-day moving average price is $15.11 and its 200 day moving average price is $16.89. The firm has a market cap of $1.86 billion, a P/E ratio of -12.93 and a beta of 1.02.

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

Institutional Investors Weigh In On Alphatec

Several institutional investors have recently made changes to their positions in ATEC. Vanguard Group Inc. grew its stake in shares of Alphatec by 1.0% during the 4th quarter. Vanguard Group Inc. now owns 6,883,626 shares of the medical technology company’s stock worth $144,831,000 after purchasing an additional 68,568 shares during the period. American Century Companies Inc. lifted its stake in shares of Alphatec by 2.6% in the third quarter. American Century Companies Inc. now owns 6,336,491 shares of the medical technology company’s stock valued at $92,133,000 after purchasing an additional 159,330 shares during the period. Morgan Stanley boosted its holdings in Alphatec by 22.0% during the fourth quarter. Morgan Stanley now owns 4,340,936 shares of the medical technology company’s stock worth $91,333,000 after buying an additional 784,191 shares in the last quarter. State Street Corp boosted its holdings in Alphatec by 6.4% during the fourth quarter. State Street Corp now owns 2,889,240 shares of the medical technology company’s stock worth $60,790,000 after buying an additional 174,287 shares in the last quarter. Finally, Geode Capital Management LLC grew its position in Alphatec by 1.2% during the fourth quarter. Geode Capital Management LLC now owns 2,828,026 shares of the medical technology company’s stock worth $59,511,000 after buying an additional 32,465 shares during the period. 66.35% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

ATEC has been the topic of a number of analyst reports. Piper Sandler reissued an “overweight” rating on shares of Alphatec in a research note on Wednesday, February 25th. TD Cowen restated a “buy” rating on shares of Alphatec in a research note on Tuesday, January 27th. Lake Street Capital reaffirmed a “buy” rating on shares of Alphatec in a report on Wednesday, February 25th. Weiss Ratings reiterated a “sell (e+)” rating on shares of Alphatec in a research note on Monday, December 29th. Finally, Needham & Company LLC reissued a “buy” rating and set a $22.00 price target on shares of Alphatec in a report on Monday, January 12th. Ten analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, Alphatec has an average rating of “Moderate Buy” and an average price target of $22.82.

About Alphatec

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.