Alphatec (NASDAQ:ATEC) General Counsel Tyson Eliot Marshall Sells 8,168 Shares

Alphatec Holdings, Inc. (NASDAQ:ATEC) General Counsel Tyson Eliot Marshall sold 8,168 shares of the company’s 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 transaction, the general counsel owned 630,398 shares in the company, valued at $6,083,340.70. This trade represents a 1.28% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. 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 Price Performance

Shares of Alphatec stock opened at $9.31 on Friday. The company has a 50-day simple moving average of $8.79 and a two-hundred day simple moving average of $10.70. Alphatec Holdings, Inc. has a twelve month low of $6.82 and a twelve month high of $23.29. The stock has a market capitalization of $1.44 billion, a price-to-earnings ratio of -13.11 and a beta of 0.85. The company has a quick ratio of 1.12, a current ratio of 1.89 and a debt-to-equity ratio of 40.35.

Alphatec (NASDAQ:ATEC) last announced its earnings results on Tuesday, August 4th. The medical technology company reported $0.07 EPS for the quarter, hitting the consensus estimate of $0.07. The company 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 business’s revenue for the quarter was up 15.1% on a year-over-year basis. During the same period last year, the firm earned $0.02 earnings per share. Analysts forecast that Alphatec Holdings, Inc. will post -0.44 EPS for the current year.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the business. Vanguard Group Inc. grew its stake in shares of Alphatec by 1.0% during the fourth quarter. Vanguard Group Inc. now owns 6,883,626 shares of the medical technology company’s stock worth $144,831,000 after buying an additional 68,568 shares during the last quarter. Morgan Stanley increased its holdings 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 purchasing an additional 784,191 shares in the last quarter. State Street Corp raised its position in Alphatec by 6.4% in the fourth quarter. State Street Corp now owns 2,889,240 shares of the medical technology company’s stock valued at $60,790,000 after purchasing an additional 174,287 shares during the last quarter. Geode Capital Management LLC raised its position in Alphatec by 1.2% in the fourth quarter. Geode Capital Management LLC now owns 2,828,026 shares of the medical technology company’s stock valued at $59,511,000 after purchasing an additional 32,465 shares during the last quarter. Finally, Bank of America Corp DE boosted its stake in shares of Alphatec by 26.9% during the first quarter. Bank of America Corp DE now owns 2,560,971 shares of the medical technology company’s stock valued at $27,863,000 after purchasing an additional 543,059 shares in the last quarter. Institutional investors and hedge funds own 66.35% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages recently commented on ATEC. Stifel Nicolaus decreased their price target on Alphatec from $16.00 to $13.00 and set a “buy” rating on the stock in a research report on Wednesday, July 8th. UBS Group upped their price objective on shares of Alphatec from $15.00 to $16.00 and gave the stock a “buy” rating in a research report on Wednesday. TD Cowen increased their price objective on shares of Alphatec from $11.00 to $13.00 and gave the stock a “buy” rating in a research note on Wednesday. Barclays decreased their target price on shares of Alphatec from $27.00 to $24.00 and set an “overweight” rating on the stock in a report on Thursday, May 7th. Finally, Lake Street Capital reaffirmed a “buy” rating and set a $15.00 price target on shares of Alphatec in a report on Wednesday, May 6th. Thirteen investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, Alphatec has a consensus rating of “Moderate Buy” and an average price target of $17.40.

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.