Insider Buying: Alphatec (NASDAQ:ATEC) CEO Acquires $1,013,150.00 in Stock

Key Points

• Alphatec CEO Patrick Miles bought 115,000 shares at an average price of $8.81, investing $1.01 million and increasing his direct ownership by 1.99% to nearly 5.9 million shares.
• Alphatec reported quarterly revenue of $213.5 million, up 15.1% year over year, while earnings of $0.07 per share matched analyst expectations. However, the company remains unprofitable, with a negative net margin.
• Institutional investors own 66.35% of the stock, and analysts maintain a generally positive outlook: 13 rate it a Buy, with a consensus price target of $17.40 versus a recent share price of $8.84.

Alphatec Holdings, Inc. (NASDAQ:ATEC - Get Free Report) CEO Patrick Miles purchased 115,000 shares of the business's stock in a transaction that occurred on Thursday, September 10th. The stock was bought at an average cost of $8.81 per share, for a total transaction of $1,013,150.00. Following the completion of the acquisition, the chief executive officer directly owned 5,893,551 shares in the company, valued at $51,922,184.31. The trade was a 1.99% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.

Alphatec Stock Performance

NASDAQ ATEC traded down $0.14 during trading hours on Thursday, reaching $8.84. 2,381,423 shares of the company were exchanged, compared to its average volume of 1,495,421. The stock has a market capitalization of $1.37 billion, a P/E ratio of -12.45 and a beta of 0.85. The company has a quick ratio of 1.07, a current ratio of 1.89 and a debt-to-equity ratio of 40.35. Alphatec Holdings, Inc. has a 1 year low of $6.82 and a 1 year high of $23.29. The business's 50 day simple moving average is $9.27 and its 200-day simple moving average is $9.80.

Alphatec (NASDAQ:ATEC - Get Free Report) last released its earnings results on Tuesday, August 4th. The medical technology company reported $0.07 earnings per share for the quarter, meeting analysts' consensus estimates of $0.07. The firm had revenue of $213.51 million for the quarter, compared to analysts' expectations of $211.26 million. Alphatec had a negative net margin of 13.49% and a negative return on equity of 6,752.24%. The company's quarterly revenue was up 15.1% on a year-over-year basis. During the same period in the previous year, the company earned $0.02 earnings per share. On average, equities research analysts expect that Alphatec Holdings, Inc. will post -0.45 earnings per share for the current year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of ATEC. Integrated Wealth Concepts LLC purchased a new stake in Alphatec in the 2nd quarter worth approximately $52,000. Allworth Financial LP lifted its stake in Alphatec by 82.6% in the second quarter. Allworth Financial LP now owns 6,666 shares of the medical technology company's stock worth $58,000 after acquiring an additional 3,015 shares during the period. VIRGINIA RETIREMENT SYSTEMS ET Al bought a new stake in Alphatec in the second quarter valued at $218,000. California State Teachers Retirement System increased its position in Alphatec by 743.5% during the 2nd quarter. California State Teachers Retirement System now owns 1,245,358 shares of the medical technology company's stock valued at $10,772,000 after purchasing an additional 1,097,708 shares during the period. Finally, FirstWave Capital Management LLC bought a new position in Alphatec in the 2nd quarter worth $1,244,000. Institutional investors own 66.35% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on ATEC shares. UBS Group upped their price target on Alphatec from $15.00 to $16.00 and gave the company a "buy" rating in a research report on Wednesday, August 5th. TD Cowen raised their target price on shares of Alphatec from $11.00 to $13.00 and gave the company a "buy" rating in a research note on Wednesday, August 5th. Stifel Nicolaus decreased their price target on shares of Alphatec from $16.00 to $13.00 and set a "buy" rating on the stock in a research note on Wednesday, July 8th. Weiss Ratings restated a "sell (d-)" rating on shares of Alphatec in a research report on Monday, August 3rd. Finally, Stephens began coverage on Alphatec in a research note on Thursday, July 23rd. They set an "overweight" rating and a $15.00 price objective on the stock. Thirteen 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, Alphatec currently has an average rating of "Moderate Buy" and a consensus target price of $17.40.

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.

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