Tyson Eliot Marshall Sells 8,168 Shares of Alphatec (NASDAQ:ATEC) Stock

Alphatec Holdings, Inc. (NASDAQ:ATEC) General Counsel Tyson Eliot Marshall sold 8,168 shares of the business’s stock in a transaction dated Wednesday, August 5th. The stock was sold at an average price of $9.65, for a total value of $78,821.20. Following the sale, the general counsel directly owned 630,398 shares of the company’s stock, valued at $6,083,340.70. This represents a 1.28% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at 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 Stock Performance

Alphatec stock opened at $9.31 on Friday. The company has a market cap of $1.44 billion, a PE ratio of -13.11 and a beta of 0.85. The company has a current ratio of 1.89, a quick ratio of 1.12 and a debt-to-equity ratio of 40.35. Alphatec Holdings, Inc. has a 1 year low of $6.82 and a 1 year high of $23.29. The company’s 50-day moving average is $8.79 and its two-hundred day moving average is $10.70.

Alphatec (NASDAQ:ATEC) last issued its quarterly earnings results on Tuesday, August 4th. The medical technology company reported $0.07 EPS for the quarter, hitting the consensus estimate of $0.07. Alphatec had a negative net margin of 13.49% and a negative return on equity of 6,752.24%. The company had revenue of $213.51 million during the quarter, compared to analysts’ expectations of $211.26 million. During the same quarter in the previous year, the company earned $0.02 EPS. Alphatec’s revenue was up 15.1% on a year-over-year basis. Equities analysts anticipate that Alphatec Holdings, Inc. will post -0.44 earnings per share for the current year.

Hedge Funds Weigh In On Alphatec

Institutional investors and hedge funds have recently made changes to their positions in the company. Millennium Management LLC raised its position in shares of Alphatec by 292.2% during the fourth quarter. Millennium Management LLC now owns 2,225,927 shares of the medical technology company’s stock worth $46,834,000 after purchasing an additional 1,658,349 shares during the period. Iron Triangle Partners LP bought a new position in shares of Alphatec during the 4th quarter valued at about $27,051,000. Morgan Stanley grew its position in shares of Alphatec by 22.0% in the 4th quarter. Morgan Stanley now owns 4,340,936 shares of the medical technology company’s stock valued at $91,333,000 after purchasing an additional 784,191 shares during the period. M&G PLC acquired a new position in shares of Alphatec in the 4th quarter valued at approximately $14,055,000. Finally, Two Sigma Investments LP increased its stake in Alphatec by 59.0% during the 3rd quarter. Two Sigma Investments LP now owns 1,794,324 shares of the medical technology company’s stock worth $26,089,000 after purchasing an additional 665,634 shares in the last quarter. Institutional investors and hedge funds own 66.35% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on ATEC. Wells Fargo & Company reduced their price target on Alphatec from $28.00 to $14.00 and set an “overweight” rating on the stock in a research report on Thursday, May 7th. Barclays dropped their price objective on Alphatec from $27.00 to $24.00 and set an “overweight” rating for the company in a report on Thursday, May 7th. Weiss Ratings reissued a “sell (d-)” rating on shares of Alphatec in a research note on Monday, August 3rd. HC Wainwright restated a “buy” rating and set a $24.00 target price on shares of Alphatec in a report on Thursday, May 7th. Finally, UBS Group boosted their target price on Alphatec from $15.00 to $16.00 and gave the stock a “buy” rating in a research report on Wednesday. Thirteen 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 stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $17.40.

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.