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

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 stock was sold at an average price of $8.01, for a total value of $48,460.50. Following the transaction, the director owned 94,671 shares in the company, valued at $758,314.71. This represents a 6.01% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 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 Trading Up 1.8%

NASDAQ:ATEC opened at $8.28 on Friday. The stock’s 50 day moving average price is $9.12 and its 200 day moving average price is $13.94. The company has a market capitalization of $1.27 billion, a PE ratio of -10.10 and a beta of 0.88. The company has a quick ratio of 1.12, a current ratio of 1.90 and a debt-to-equity ratio of 40.35. Alphatec Holdings, Inc. has a 52-week low of $6.82 and a 52-week high of $23.29.

Institutional Trading of Alphatec

A number of institutional investors have recently modified their holdings of ATEC. Millennium Management LLC boosted its stake in shares of Alphatec by 292.2% in the fourth quarter. Millennium Management LLC now owns 2,225,927 shares of the medical technology company’s stock valued at $46,834,000 after buying an additional 1,658,349 shares in the last quarter. Iron Triangle Partners LP purchased a new stake in shares of Alphatec in the fourth quarter valued at approximately $27,051,000. Morgan Stanley boosted its stake in shares of Alphatec by 22.0% in the fourth quarter. Morgan Stanley now owns 4,340,936 shares of the medical technology company’s stock valued at $91,333,000 after buying an additional 784,191 shares in the last quarter. Tudor Investment Corp ET AL boosted its stake in shares of Alphatec by 608.4% in the third quarter. Tudor Investment Corp ET AL now owns 900,491 shares of the medical technology company’s stock valued at $13,093,000 after buying an additional 773,367 shares in the last quarter. Finally, M&G PLC purchased a new stake in shares of Alphatec in the fourth quarter valued at approximately $14,055,000. 66.35% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research analysts have recently issued reports on the company. Piper Sandler reissued an “overweight” rating and issued a $14.00 target price (down from $25.00) on shares of Alphatec in a report on Wednesday, May 6th. JPMorgan Chase & Co. dropped their target price on Alphatec from $24.00 to $16.00 and set an “overweight” rating on the stock in a report on Wednesday, May 6th. Stifel Nicolaus dropped their target price on Alphatec from $24.00 to $20.00 and set a “buy” rating on the stock in a report on Monday, March 9th. Wells Fargo & Company dropped 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. Finally, HC Wainwright reissued a “buy” rating and issued a $24.00 target price on shares of Alphatec in a report on Thursday, May 7th. Ten investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $18.58.

Alphatec Company Profile

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.