David Sponsel Sells 70,000 Shares of Alphatec (NASDAQ:ATEC) Stock

Alphatec Holdings, Inc. (NASDAQ:ATEC) EVP David Sponsel sold 70,000 shares of the firm’s stock in a transaction dated Friday, October 24th. The shares were sold at an average price of $16.18, for a total value of $1,132,600.00. Following the transaction, the executive vice president owned 461,861 shares of the company’s stock, valued at approximately $7,472,910.98. The trade was a 13.16% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link.

David Sponsel also recently made the following trade(s):

• On Friday, September 19th, David Sponsel sold 2,555 shares of Alphatec stock. The stock was sold at an average price of $15.34, for a total value of $39,193.70.
• On Thursday, September 18th, David Sponsel sold 137,445 shares of Alphatec stock. The stock was sold at an average price of $15.09, for a total value of $2,074,045.05.

Alphatec Trading Down 1.0%

ATEC opened at $16.49 on Thursday. The firm has a market cap of $2.44 billion, a P/E ratio of -14.59 and a beta of 1.05. Alphatec Holdings, Inc. has a 12 month low of $5.36 and a 12 month high of $17.15. The company has a current ratio of 2.88, a quick ratio of 1.77 and a debt-to-equity ratio of 23.22. The stock has a 50-day moving average of $15.21 and a 200 day moving average of $13.16.

Alphatec (NASDAQ:ATEC) last released its quarterly earnings results on Thursday, July 31st. The medical technology company reported $0.02 EPS for the quarter, topping the consensus estimate of ($0.06) by $0.08. The company had revenue of $185.54 million during the quarter, compared to analysts’ expectations of $178.85 million. The company’s revenue was up 27.5% on a year-over-year basis. During the same quarter in the prior year, the business posted ($0.29) EPS. As a group, research analysts forecast that Alphatec Holdings, Inc. will post -1.08 EPS for the current year.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on the company. Canaccord Genuity Group reiterated a “buy” rating and issued a $20.00 price target on shares of Alphatec in a research report on Friday, August 1st. Wells Fargo & Company boosted their target price on Alphatec from $14.00 to $16.00 and gave the company an “overweight” rating in a research report on Thursday, October 16th. Barclays restated an “overweight” rating and set a $22.00 target price (up previously from $21.00) on shares of Alphatec in a research report on Monday, August 4th. Wall Street Zen upgraded Alphatec from a “hold” rating to a “buy” rating in a research report on Saturday, October 18th. Finally, JPMorgan Chase & Co. assumed coverage on Alphatec in a research report on Friday, October 24th. They set an “overweight” rating and a $19.00 target price for the company. Nine equities research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company. According to MarketBeat, Alphatec has an average rating of “Moderate Buy” and an average target price of $18.44.

Institutional Trading of Alphatec

A number of large investors have recently modified their holdings of ATEC. Nuveen LLC purchased a new stake in shares of Alphatec in the first quarter valued at approximately $135,874,000. Granite Investment Partners LLC boosted its holdings in shares of Alphatec by 320.6% in the second quarter. Granite Investment Partners LLC now owns 1,720,944 shares of the medical technology company’s stock valued at $19,102,000 after purchasing an additional 1,311,748 shares during the period. MetLife Investment Management LLC boosted its holdings 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 valued at $12,309,000 after purchasing an additional 1,150,669 shares during the period. Driehaus Capital Management LLC purchased a new stake in shares of Alphatec in the first quarter valued at approximately $10,398,000. Finally, Motley Fool Wealth Management LLC purchased a new stake in shares of Alphatec in the first quarter valued at approximately $9,070,000. Hedge funds and other institutional investors own 66.35% of the company’s stock.

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.