Jennifer Pritzker Sells 221,166 Shares of Alphatec (NASDAQ:ATEC) Stock

Alphatec Holdings, Inc. (NASDAQ:ATEC) major shareholder Jennifer Pritzker sold 221,166 shares of the stock in a transaction on Monday, December 8th. The shares were sold at an average price of $21.20, for a total value of $4,688,719.20. Following the completion of the transaction, the insider directly owned 10,673,879 shares in the company, valued at $226,286,234.80. This trade represents a 2.03% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Large shareholders that own 10% or more of a company’s shares are required to disclose their sales and purchases with the SEC.

Alphatec Stock Up 1.1%

NASDAQ ATEC traded up $0.23 during trading on Wednesday, reaching $20.90. 3,368,927 shares of the company’s stock were exchanged, compared to its average volume of 2,125,982. The company has a 50 day moving average price of $18.04 and a two-hundred day moving average price of $14.95. The stock has a market cap of $3.10 billion, a P/E ratio of -20.10 and a beta of 1.08. Alphatec Holdings, Inc. has a 1 year low of $8.69 and a 1 year high of $22.66. The company has a debt-to-equity ratio of 43.02, a quick ratio of 1.24 and a current ratio of 1.99.

Alphatec (NASDAQ:ATEC) last released its quarterly earnings data on Thursday, October 30th. The medical technology company reported $0.03 EPS for the quarter, beating analysts’ consensus estimates of ($0.06) by $0.09. The business had revenue of $196.50 million during the quarter, compared to analysts’ expectations of $182.78 million. The company’s revenue was up 30.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted ($0.28) EPS. On average, equities research analysts anticipate that Alphatec Holdings, Inc. will post -1.08 EPS for the current fiscal year.

Institutional Trading of Alphatec

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Emerald Advisers LLC increased its holdings in shares of Alphatec by 3.8% in the second quarter. Emerald Advisers LLC now owns 1,684,334 shares of the medical technology company’s stock valued at $18,696,000 after purchasing an additional 60,885 shares during the period. AQR Capital Management LLC grew its position in Alphatec by 7.6% in the 1st quarter. AQR Capital Management LLC now owns 676,897 shares of the medical technology company’s stock valued at $6,864,000 after buying an additional 47,939 shares during the last quarter. American Century Companies Inc. grew its position in Alphatec by 6.0% in the 2nd quarter. American Century Companies Inc. now owns 6,177,161 shares of the medical technology company’s stock valued at $68,567,000 after buying an additional 347,130 shares during the last quarter. Northern Trust Corp increased its stake in Alphatec by 3.4% in the 1st quarter. Northern Trust Corp now owns 1,049,469 shares of the medical technology company’s stock valued at $10,642,000 after buying an additional 34,726 shares during the period. Finally, Voya Investment Management LLC raised its position in Alphatec by 60.1% during the 1st quarter. Voya Investment Management LLC now owns 49,561 shares of the medical technology company’s stock worth $503,000 after buying an additional 18,605 shares during the last quarter. 66.35% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

ATEC has been the topic of a number of research analyst reports. Wells Fargo & Company raised their price objective on shares of Alphatec from $14.00 to $16.00 and gave the stock an “overweight” rating in a report on Thursday, October 16th. Morgan Stanley set a $23.00 price target on shares of Alphatec in a research note on Tuesday, December 2nd. JPMorgan Chase & Co. began coverage on shares of Alphatec in a research report on Friday, October 24th. They issued an “overweight” rating and a $19.00 price target for the company. Piper Sandler reaffirmed an “overweight” rating and set a $25.00 price objective (up previously from $20.00) on shares of Alphatec in a report on Friday, October 31st. Finally, Canaccord Genuity Group lifted their target price on Alphatec from $20.00 to $25.00 and gave the stock a “buy” rating in a research report on Friday, October 31st. Nine research 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 presently has a consensus rating of “Moderate Buy” and a consensus target price of $22.45.

About Alphatec

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.