Alphatec (NASDAQ:ATEC) Trading Down 3.7% After Insider Selling

Alphatec Holdings, Inc. (NASDAQ:ATECGet Rating) dropped 3.7% during trading on Friday following insider selling activity. The stock traded as low as $12.93 and last traded at $12.94. Approximately 8,365 shares were traded during trading, a decline of 99% from the average daily volume of 1,170,097 shares. The stock had previously closed at $13.44.

Specifically, CEO Patrick Miles sold 60,000 shares of the business’s stock in a transaction on Thursday, January 19th. The stock was sold at an average price of $13.33, for a total transaction of $799,800.00. Following the transaction, the chief executive officer now owns 5,481,633 shares of the company’s stock, valued at $73,070,167.89. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In related news, CEO Patrick Miles sold 60,000 shares of the firm’s stock in a transaction dated Thursday, January 19th. The stock was sold at an average price of $13.33, for a total transaction of $799,800.00. Following the completion of the sale, the chief executive officer now directly owns 5,481,633 shares of the company’s stock, valued at approximately $73,070,167.89. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP David Sponsel sold 10,000 shares of the firm’s stock in a transaction dated Monday, December 5th. The stock was sold at an average price of $9.88, for a total value of $98,800.00. Following the sale, the executive vice president now directly owns 556,983 shares of the company’s stock, valued at $5,502,992.04. The disclosure for this sale can be found here. Insiders have sold a total of 190,000 shares of company stock worth $2,303,600 over the last quarter. 33.93% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

ATEC has been the subject of a number of analyst reports. Lake Street Capital boosted their price objective on Alphatec from $16.50 to $20.00 and gave the stock a “buy” rating in a research report on Thursday, January 12th. Morgan Stanley boosted their price objective on Alphatec from $15.00 to $17.00 and gave the stock an “overweight” rating in a research report on Friday, January 6th. StockNews.com started coverage on Alphatec in a research report on Wednesday, October 12th. They set a “sell” rating for the company. Needham & Company LLC boosted their target price on Alphatec from $13.00 to $14.00 and gave the stock a “buy” rating in a research note on Friday, November 4th. Finally, Jefferies Financial Group started coverage on Alphatec in a research note on Wednesday, October 12th. They set a “buy” rating and a $12.00 target price for the company. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $15.64.

Alphatec Stock Performance

The company has a debt-to-equity ratio of 29.74, a current ratio of 2.14 and a quick ratio of 1.33. The firm has a 50 day moving average of $11.07 and a two-hundred day moving average of $9.39. The stock has a market cap of $1.41 billion, a PE ratio of -8.73 and a beta of 1.31.

Alphatec (NASDAQ:ATECGet Rating) last issued its quarterly earnings data on Thursday, November 3rd. The medical technology company reported ($0.35) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.32) by ($0.03). Alphatec had a negative net margin of 49.34% and a negative return on equity of 575.45%. The firm had revenue of $89.84 million during the quarter, compared to analysts’ expectations of $87.07 million. Research analysts predict that Alphatec Holdings, Inc. will post -1.44 EPS for the current fiscal year.

Institutional Investors Weigh In On Alphatec

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Great West Life Assurance Co. Can purchased a new stake in Alphatec in the third quarter valued at approximately $28,000. Nisa Investment Advisors LLC purchased a new stake in shares of Alphatec during the second quarter worth approximately $27,000. Quantbot Technologies LP purchased a new stake in shares of Alphatec during the first quarter worth approximately $66,000. Point72 Hong Kong Ltd purchased a new stake in shares of Alphatec during the second quarter worth approximately $46,000. Finally, Tower Research Capital LLC TRC raised its stake in shares of Alphatec by 66.9% during the third quarter. Tower Research Capital LLC TRC now owns 7,621 shares of the medical technology company’s stock worth $67,000 after purchasing an additional 3,055 shares during the last quarter. Hedge funds and other institutional investors own 48.59% of the company’s stock.

Alphatec Company Profile

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Alphatec Holdings, Inc, a medical technology company, designs, develops, and advances technologies for the surgical treatment of spinal disorders. The company offers SafeOp Neural InformatiX System, an Alpha InformatiX product platform designed to reduce the risk of intraoperative nerve injury; Sigma transforaminal lumbar interbody fusion pedicle-based access system that provides direct visualization of anatomical landmarks; Sigma PTP Access and Patient Positioning System; squadron lateral retractor designed to maximize patient outcomes; Invictus Spinal Fixation System, a thoracolumbar fixation system to treat a range of pathologies; and Invictus MIS SingleStep System that provides minimally invasive pedicle screw placement.

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