Insider Selling: Alphatec (NASDAQ:ATEC) General Counsel Sells 8,168 Shares

Key Points

• Alphatec’s general counsel sold 8,168 shares at an average price of $9.65, totaling $78,821.20. The transaction occurred under a Rule 10b5-1 plan to cover tax withholding on vested equity awards, reducing the insider’s holdings by 1.28%.
• Alphatec reported quarterly revenue of $213.51 million, up 15.1% year over year and above estimates, while adjusted earnings per share of $0.07 matched consensus. The company remains unprofitable, with analysts projecting a full-year loss of $0.44 per share.
• The stock traded near $9.31, well below its 12-month high of $23.29. Despite reduced analyst price targets, 13 of 15 analysts rate Alphatec a Buy, giving it a “Moderate Buy” consensus and an average target of $17.40.

Alphatec Holdings, Inc. (NASDAQ:ATEC - Get Free Report) General Counsel Tyson Eliot Marshall sold 8,168 shares of the stock in a transaction dated Wednesday, August 5th. The shares were sold at an average price of $9.65, for a total transaction of $78,821.20. Following the completion of the sale, the general counsel owned 630,398 shares of the company's stock, valued at approximately $6,083,340.70. This trade represents a 1.28% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Alphatec Stock Performance

Shares of NASDAQ ATEC traded up $0.10 during midday trading on Friday, reaching $9.31. The company's stock had a trading volume of 2,412,646 shares, compared to its average volume of 2,425,268. Alphatec Holdings, Inc. has a 12-month low of $6.82 and a 12-month high of $23.29. The firm has a 50 day moving average price of $8.79 and a 200-day moving average price of $10.70. The stock has a market capitalization of $1.44 billion, a P/E ratio of -13.11 and a beta of 0.85. The company has a debt-to-equity ratio of 40.35, a current ratio of 1.89 and a quick ratio of 1.12.

Alphatec (NASDAQ:ATEC - Get Free Report) last issued its quarterly earnings results on Tuesday, August 4th. The medical technology company reported $0.07 EPS for the quarter, meeting analysts' consensus estimates of $0.07. The company had revenue of $213.51 million during the quarter, compared to the consensus estimate of $211.26 million. Alphatec had a negative return on equity of 6,752.24% and a negative net margin of 13.49%.Alphatec's revenue was up 15.1% on a year-over-year basis. During the same period last year, the business posted $0.02 earnings per share. As a group, equities analysts predict that Alphatec Holdings, Inc. will post -0.44 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on the company. Needham & Company LLC lowered their target price on Alphatec from $25.00 to $14.00 and set a "buy" rating on the stock in a research note on Wednesday, May 6th. Lake Street Capital restated a "buy" rating and set a $15.00 price target on shares of Alphatec in a research report on Wednesday, May 6th. JPMorgan Chase & Co. decreased their price objective on shares of Alphatec from $24.00 to $16.00 and set an "overweight" rating for the company in a report on Wednesday, May 6th. TD Cowen lifted their price objective on shares of Alphatec from $11.00 to $13.00 and gave the stock a "buy" rating in a research report on Wednesday. Finally, HC Wainwright reissued a "buy" rating and set a $24.00 target price on shares of Alphatec in a research report on Thursday, May 7th. Thirteen equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $17.40.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. Millennium Management LLC lifted its position in shares of Alphatec by 292.2% during the fourth quarter. Millennium Management LLC now owns 2,225,927 shares of the medical technology company's stock worth $46,834,000 after acquiring an additional 1,658,349 shares in the last quarter. Iron Triangle Partners LP bought a new stake in Alphatec during the fourth quarter valued at approximately $27,051,000. Morgan Stanley grew its stake in Alphatec by 22.0% in the 4th 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. M&G PLC purchased a new position in Alphatec in the 4th quarter worth approximately $14,055,000. Finally, Two Sigma Investments LP increased its holdings in shares of Alphatec by 59.0% in the 3rd quarter. Two Sigma Investments LP now owns 1,794,324 shares of the medical technology company's stock worth $26,089,000 after buying an additional 665,634 shares during the last quarter. 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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