Insider Selling: Alphatec (NASDAQ:ATEC) Major Shareholder Sells 221,166 Shares of Stock

Alphatec Holdings, Inc. (NASDAQ:ATEC) major shareholder Squadron Capital Llc sold 221,166 shares of the firm’s stock in a transaction that occurred on Monday, December 8th. The shares were sold at an average price of $21.20, for a total transaction of $4,688,719.20. Following the completion of the sale, the insider directly owned 10,673,879 shares in the company, valued at $226,286,234.80. This represents a 2.03% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Major shareholders that own more than 10% of a company’s shares are required to disclose their transactions with the SEC.

Squadron Capital Llc also recently made the following trade(s):

• On Tuesday, December 9th, Squadron Capital Llc sold 28,834 shares of Alphatec stock. The stock was sold at an average price of $21.03, for a total transaction of $606,379.02.
• On Monday, November 24th, Squadron Capital Llc sold 250,000 shares of Alphatec stock. The shares were sold at an average price of $20.62, for a total transaction of $5,155,000.00.
• On Wednesday, November 12th, Squadron Capital Llc sold 250,000 shares of Alphatec stock. The stock was sold at an average price of $20.80, for a total transaction of $5,200,000.00.

Alphatec Price Performance

NASDAQ:ATEC traded up $0.23 during midday trading on Wednesday, hitting $20.90. The company had a trading volume of 3,368,927 shares, compared to its average volume of 2,125,982. The company has a market capitalization of $3.10 billion, a PE ratio of -20.10 and a beta of 1.08. The company has a quick ratio of 1.24, a current ratio of 1.99 and a debt-to-equity ratio of 43.02. Alphatec Holdings, Inc. has a 52-week low of $8.69 and a 52-week high of $22.66. The stock’s fifty day moving average price is $18.04 and its 200-day moving average price is $14.95.

Alphatec (NASDAQ:ATEC) last issued its quarterly earnings results on Thursday, October 30th. The medical technology company reported $0.03 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.06) by $0.09. The firm had revenue of $196.50 million for the quarter, compared to the consensus estimate of $182.78 million. During the same period last year, the firm earned ($0.28) EPS. The company’s revenue for the quarter was up 30.4% on a year-over-year basis. As a group, research analysts expect that Alphatec Holdings, Inc. will post -1.08 earnings per share for the current year.

Institutional Investors Weigh In On Alphatec

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Nuveen LLC purchased a new stake in Alphatec during the 1st quarter valued at $135,874,000. Granite Investment Partners LLC boosted its holdings in shares of Alphatec by 320.6% during the second quarter. Granite Investment Partners LLC now owns 1,720,944 shares of the medical technology company’s stock worth $19,102,000 after purchasing an additional 1,311,748 shares during the period. MetLife Investment Management LLC grew its stake in shares of Alphatec by 1,818.5% in the first quarter. MetLife Investment Management LLC now owns 1,213,943 shares of the medical technology company’s stock worth $12,309,000 after purchasing an additional 1,150,669 shares during the last quarter. Driehaus Capital Management LLC purchased a new position in Alphatec during the 1st quarter valued at about $10,398,000. Finally, American Century Companies Inc. raised its position in Alphatec by 16.9% during the 1st quarter. American Century Companies Inc. now owns 5,830,031 shares of the medical technology company’s stock valued at $59,117,000 after purchasing an additional 840,974 shares during the last quarter. 66.35% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several brokerages have issued reports on ATEC. Stifel Nicolaus initiated coverage on Alphatec in a research note on Tuesday, October 28th. They issued a “buy” rating and a $20.00 target price for the company. Loop Capital set a $25.00 price objective on shares of Alphatec in a report on Wednesday. Canaccord Genuity Group upped their price objective on shares of Alphatec from $20.00 to $25.00 and gave the company a “buy” rating in a research note on Friday, October 31st. Needham & Company LLC lifted their target price on shares of Alphatec from $16.00 to $22.00 and gave the stock a “buy” rating in a research report on Friday, October 31st. Finally, Wells Fargo & Company boosted their price target on shares of Alphatec from $14.00 to $16.00 and gave the stock an “overweight” rating in a research note on Thursday, October 16th. Nine equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $22.45.

Alphatec Company Profile

Alphatec Holdings, Inc, a medical technology company, designs, develops, and advances technologies for the surgical treatment of spinal disorders in the United States and internationally. It manufactures and sells implants and instruments through third-party suppliers. The company offers Alpha InformatiX product platform, including EOS imaging system that provides full-body imaging; VEA alignment mobile application, which leverages EOS technology to more quickly quantify alignment parameters on a mobile device; SafeOp Neural InformatiX System that automates electromyographic and somatosensory evoked potential monitoring; and Valence, an intra-operative system that integrates navigation and robotics into spine procedures, as well as Sigma Prone TransPsoas (PTP) Access and PTP Patient Positioning Systems.