Karen Mcginnis Sells 6,050 Shares of Alphatec (NASDAQ:ATEC) Stock

Alphatec Holdings, Inc. (NASDAQ:ATEC) Director Karen Mcginnis sold 6,050 shares of the firm’s stock in a transaction that occurred on Thursday, June 11th. The shares were sold at an average price of $8.01, for a total value of $48,460.50. Following the completion of the transaction, the director directly owned 94,671 shares in the company, valued at $758,314.71. The trade was a 6.01% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed 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 Stock Performance

Shares of ATEC stock traded up $0.15 during trading on Friday, reaching $8.28. The company had a trading volume of 1,766,641 shares, compared to its average volume of 3,228,264. The firm’s 50 day simple moving average is $9.18 and its two-hundred day simple moving average is $13.98. The company has a debt-to-equity ratio of 40.35, a current ratio of 1.90 and a quick ratio of 1.12. Alphatec Holdings, Inc. has a one year low of $6.82 and a one year high of $23.29. The company has a market capitalization of $1.27 billion, a PE ratio of -10.10 and a beta of 0.88.

Institutional Trading of Alphatec

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in ATEC. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in Alphatec by 4.5% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 74,005 shares of the medical technology company’s stock valued at $750,000 after buying an additional 3,196 shares during the last quarter. Dynamic Technology Lab Private Ltd acquired a new stake in Alphatec in the 1st quarter valued at approximately $257,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its holdings in Alphatec by 18.4% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 265,907 shares of the medical technology company’s stock valued at $2,696,000 after buying an additional 41,264 shares during the last quarter. Quantbot Technologies LP acquired a new stake in shares of Alphatec during the 2nd quarter worth approximately $242,000. Finally, Invesco Ltd. grew its holdings in shares of Alphatec by 455.0% during the 2nd quarter. Invesco Ltd. now owns 282,212 shares of the medical technology company’s stock worth $3,133,000 after purchasing an additional 231,367 shares in the last quarter. Institutional investors and hedge funds own 66.35% of the company’s stock.

Wall Street Analysts Forecast Growth

ATEC has been the topic of a number of recent analyst reports. Stifel Nicolaus cut their price objective on Alphatec from $24.00 to $20.00 and set a “buy” rating on the stock in a research note on Monday, March 9th. HC Wainwright reissued a “buy” rating and issued a $24.00 price objective on shares of Alphatec in a research note on Thursday, May 7th. Wells Fargo & Company lowered their target price on Alphatec from $28.00 to $14.00 and set an “overweight” rating on the stock in a report on Thursday, May 7th. TD Cowen lowered their target price on Alphatec from $20.00 to $11.00 and set a “buy” rating on the stock in a report on Wednesday, May 6th. Finally, 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 report on Wednesday, May 6th. Ten research 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. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $18.58.

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.