Alphatec (NASDAQ:ATEC) EVP Sells $833,260.75 in Stock

Alphatec Holdings, Inc. (NASDAQ:ATEC) EVP David Sponsel sold 60,425 shares of the stock in a transaction on Thursday, February 5th. The shares were sold at an average price of $13.79, for a total transaction of $833,260.75. Following the completion of the transaction, the executive vice president directly owned 349,500 shares in the company, valued at $4,819,605. This trade represents a 14.74% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink.

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

• On Wednesday, December 10th, David Sponsel sold 21,106 shares of Alphatec stock. The shares were sold at an average price of $20.79, for a total transaction of $438,793.74.
• On Monday, December 8th, David Sponsel sold 988 shares of Alphatec stock. The stock was sold at an average price of $21.45, for a total value of $21,192.60.

Alphatec Stock Up 2.4%

ATEC opened at $13.82 on Monday. Alphatec Holdings, Inc. has a one year low of $8.81 and a one year high of $23.29. The company has a debt-to-equity ratio of 43.02, a quick ratio of 1.24 and a current ratio of 1.99. The stock has a market capitalization of $2.05 billion, a P/E ratio of -13.29 and a beta of 1.01. The business’s 50-day simple moving average is $18.85 and its 200-day simple moving average is $17.09.

Institutional Trading of Alphatec

Hedge funds have recently modified their holdings of the business. Creative Planning grew its holdings in Alphatec by 0.9% during the third quarter. Creative Planning now owns 58,654 shares of the medical technology company’s stock worth $853,000 after acquiring an additional 534 shares during the period. Valeo Financial Advisors LLC boosted its position in shares of Alphatec by 2.1% during the 3rd quarter. Valeo Financial Advisors LLC now owns 41,296 shares of the medical technology company’s stock worth $600,000 after purchasing an additional 846 shares in the last quarter. Norden Group LLC grew its stake in shares of Alphatec by 2.6% during the 3rd quarter. Norden Group LLC now owns 36,676 shares of the medical technology company’s stock worth $533,000 after purchasing an additional 939 shares during the period. Arizona State Retirement System increased its holdings in shares of Alphatec by 2.8% in the 3rd quarter. Arizona State Retirement System now owns 34,603 shares of the medical technology company’s stock valued at $503,000 after purchasing an additional 949 shares in the last quarter. Finally, Ameritas Investment Partners Inc. lifted its stake in shares of Alphatec by 8.8% in the second quarter. Ameritas Investment Partners Inc. now owns 11,845 shares of the medical technology company’s stock valued at $131,000 after purchasing an additional 955 shares during the period. 66.35% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on ATEC. Wall Street Zen raised shares of Alphatec from a “hold” rating to a “buy” rating in a report on Saturday, January 31st. Morgan Stanley set a $23.00 price objective on shares of Alphatec in a research note on Tuesday, December 2nd. TD Cowen reiterated a “buy” rating on shares of Alphatec in a research note on Tuesday, January 27th. 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. Finally, Barclays boosted their target price on Alphatec from $23.00 to $27.00 and gave the company an “overweight” rating in a report on Wednesday, January 7th. Ten analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $22.82.

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.