Alphatec (NASDAQ:ATEC) EVP Craig Hunsaker Sells 33,602 Shares

Key Points

• Alphatec EVP Craig Hunsaker sold 33,602 shares on March 6 at an average price of $12.22 for $410,616, reducing his ownership by 1.82% to 1,808,974 shares (worth about $22.1M).
• Quarterly results beat expectations: Alphatec reported $0.06 EPS versus $0.04 expected and revenue of $212.93M, up 20.4% year-over-year.
• The stock traded near $12.51 with below-average volume and technicals showing a 50‑day/200‑day moving average of $15.78/$16.99; analysts are mostly positive (10 Buys, average price target $22.82, Barclays raised its target to $27).

Alphatec Holdings, Inc. (NASDAQ:ATEC - Get Free Report) EVP Craig Hunsaker sold 33,602 shares of Alphatec stock in a transaction on Friday, March 6th. The stock was sold at an average price of $12.22, for a total value of $410,616.44. Following the sale, the executive vice president owned 1,808,974 shares in the company, valued at $22,105,662.28. This trade represents a 1.82% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this link.

Alphatec Stock Performance

Shares of NASDAQ:ATEC traded down $0.36 during mid-day trading on Tuesday, reaching $12.51. The company had a trading volume of 2,228,465 shares, compared to its average volume of 3,318,480. Alphatec Holdings, Inc. has a one year low of $8.81 and a one year high of $23.29. The company has a current ratio of 2.06, a quick ratio of 1.28 and a debt-to-equity ratio of 40.35. The company's 50-day moving average price is $15.78 and its 200-day moving average price is $16.99. The firm has a market cap of $1.89 billion, a price-to-earnings ratio of -13.17 and a beta of 1.02.

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

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on ATEC. HC Wainwright reissued a "buy" rating and set a $24.00 price objective on shares of Alphatec in a research note on Monday, January 12th. Barclays raised their price target on Alphatec from $23.00 to $27.00 and gave the company an "overweight" rating in a report on Wednesday, January 7th. Morgan Stanley set a $23.00 price target on Alphatec in a research report on Tuesday, December 2nd. Lake Street Capital restated a "buy" rating on shares of Alphatec in a research report on Wednesday, February 25th. Finally, Loop Capital set a $25.00 target price on shares of Alphatec in a research note on Wednesday, December 10th. Ten investment 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's stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $22.82.

Institutional Investors Weigh In On Alphatec

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Aster Capital Management DIFC Ltd purchased a new stake in shares of Alphatec during the third quarter valued at approximately $34,000. Osterweis Capital Management Inc. purchased a new stake in Alphatec during the 2nd quarter valued at $37,000. Northwestern Mutual Wealth Management Co. grew its holdings in Alphatec by 157.1% in the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 2,571 shares of the medical technology company's stock worth $54,000 after acquiring an additional 1,571 shares during the last quarter. China Universal Asset Management Co. Ltd. purchased a new position in shares of Alphatec in the third quarter valued at about $73,000. Finally, FNY Investment Advisers LLC purchased a new position in shares of Alphatec in the third quarter valued at about $74,000. Institutional investors own 66.35% of the company's stock.

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.

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